會議論文
| 學年 | 111 |
|---|---|
| 學期 | 2 |
| 發表日期 | 2023-06-26 |
| 作品名稱 | Cryptocurrency Return Dependency and Economic Policy Uncertainty |
| 作品名稱（其他語言） | |
| 著者 | Kuang-Chieh Yen; Wei-Ying Nie; Hsuan-Ling Chang; Li-Han Chang |
| 作品所屬單位 | |
| 出版者 | |
| 會議名稱 | Asia Finance Association 2023 |
| 會議地點 | 胡志明市，越南 |
| 摘要 | This study investigated whether economic policy uncertainty (EPU) affects the degree of Bitcoin return dependency in the cryptocurrency (crypto) market by calculating the Pearson correlation between Bitcoin returns and the average returns of 19 cryptocurrencies to determine the return dependency. First, we found that an increase in global EPU strengthens the dependency effect. Among the country-level EPU indexes, we found that the increased EPU of crypto-friendly countries (United States, United Kingdom, Japan, and South Korea) is the main enhancer of dependency. By contrast, the EPU index of crypto-unfriendly countries (China and Russia) exhibits a statistically nonsignificant effect. Finally, the empirical results remain similar if we replace Bitcoin with Ethereum to measure dependency. |
| 關鍵字 | Bitcoin;Cryptocurrencies;Dependency effect;economic policy uncertainty (EPU) |
| 語言 | en_US |
| 收錄於 | |
| 會議性質 | 國際 |
| 校內研討會地點 | 無 |
| 研討會時間 | 20230626~20230627 |
| 通訊作者 | |
| 國別 | VNM |
| 公開徵稿 | |
| 出版型式 | |
| 出處 | |
| 相關連結 |
機構典藏連結 ( http://tkuir.lib.tku.edu.tw:8080/dspace/handle/987654321/124361 ) |