The relationship between global economic policy uncertainty and happiness sentiment

DOI

10.2991/978-94-6463-583-6_20How to use a DOI?

Keywords

Economic policy uncertainty; Happiness sentiment; Covid-19

Abstract

This study investigates the relationship between the global economic policy uncertainty and the happiness sentiment under impacts of the Covid-19 pandemic. In which, we employ the multivariate generalized autoregressive conditional heteroskedasticity framework to examine return series of proxies derived from social media, from 01 June 2011 to 25 May 2021. We aim to explore how the global uncertainty influences economic policy and happiness in terms of return and volatility transmissions. In addition, we assess the connection between economic uncertainty and happiness sentiment before and during the unprecedented Covid-19 outbreak. We find that the relationship remains negative during the occurring outbreak, compared to the preceding period. In other words, the economic policy uncertainty and the happiness sentiment indexes are negatively correlated, regardless of the unprecedented crisis as caused by the Covid-19 pandemic. The findings suggest that policymakers should enhance the well-being of people and keep the economy under stable conditions, contemporaneously. These policies are significantly tremendous in pursuit of multiple economic and social objectives, especially in the context of the Covid-19 crisis.

Copyright

© 2024 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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TY  - CONF
AU  - Van Le
PY  - 2024
DA  - 2024/11/26
TI  - The relationship between global economic policy uncertainty and happiness sentiment
BT  - Proceedings of the 2nd International Conference - Resilience by Technology and Design (RTD 2024)
PB  - Atlantis Press
SP  - 383
EP  - 400
SN  - 1951-6851
UR  - https://doi.org/10.2991/978-94-6463-583-6_20
DO  - 10.2991/978-94-6463-583-6_20
ID  - Le2024
ER  -