COVID-19 Government restriction policy, COVID-19 vaccination and stock markets: Evidence from a global perspective

Yu, Xiaoling; Xiao, Kaitian

doi:10.1016/j.frl.2023.103669

Cited by 24 publications

(14 citation statements)

References 39 publications

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“…Further investigation is required to explore the extent to which the rollout of vaccines influences gold prices during the pandemic. In addition, the rollout of vaccines has altered the reaction of the stock market to negative COVID-19 news (Yu and Xiao, 2023). In light of this, we will address whether there are significant changes in gold's asymmetry effect when comparing the prevaccination and postvaccination periods.…”

Section: Discussionmentioning

confidence: 99%

The response of gold to the COVID-19 pandemic

Lu,

Tanizaki

2023

SEF

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Purpose This study aims to investigate how the gold return and its volatility respond to the COVID-19 pandemic. Design/methodology/approach Stochastic volatility (SV) models are conducted to examine the response of gold to the number of new confirmed cases and deaths. Findings The results indicate that an increase in the change rate of the number of COVID-19 infections or fatalities leads to heightened volatility in gold prices. Moreover, the results suggest that gold volatility is more sensitive to the impacts from high-income countries than by those from middle- and low-income countries. In addition, the asymmetric effect is detected in the gold price volatility, which is contrary to the typical asymmetric effect seen in the stock market. Furthermore, the results remain robust after accounting for the US dollar and the volatility index in relation to gold returns. Practical implications This study presents whether and to what extent gold is incorporated in the information related to the number of COVID-19 cases and deaths. Originality/value This study augments the existing literature by exploring how the number of COVID-19 infections and fatalities influences gold prices. In addition, it examines the day-of-the-week and asymmetric effects that may contribute to the volatility of gold prices. To the best of the authors’ knowledge, the evolution of gold has not yet been investigated using SV models.

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Section: Discussionmentioning

confidence: 99%

The response of gold to the COVID-19 pandemic

Lu,

Tanizaki

2023

SEF

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“…Over the last few decades, worldwide financial markets have been subjected to a slew of extreme shocks, including trade wars (Xu and Lien 2020;Chen et al 2023), the COVID-19 pandemic (Zaremba et al 2020;Yu and Xiao 2023), geopolitical conflicts (Saâdaoui et al 2022;Umar et al 2023), economic sanctions (Korotin et al 2019;Meyer et al 2023), and climate change (Bellard et al 2012;Xu et al 2022), all of which have posed significant obstacles and hazards to the growth of global financial markets. With elevated risks, equity investors confront hurdles and typically employ portfolio diversification and hedging strategies to manage these risks.…”

Section: Introductionmentioning

confidence: 99%

Double Asymmetric Impacts, Dynamic Correlations, and Risk Management Amidst Market Risks: A Comparative Study between the US and China

Yu,

Xu,

Chen

2024

JRFM

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Extreme shocks, including climate change, economic sanctions, geopolitical conflicts, etc., are significant and complex issues currently confronting the global world. From the US–China perspective, this paper employs the DCC-DAGM model to investigate how diverse market risks asymmetrically affect return volatility, and extract correlations between stock indices and hedging assets. Then, diversified and hedging portfolios, constructed by optimal weight and hedge ratio, are investigated using multiple risk reduction measures. The empirical results highlight that, first, diverse risks exhibit an asymmetric effect on the return volatility in the long term, while in the short term, the US stock market is more sensitive to negative return shocks than the Chinese market. Second, risks impact correlations differently across time horizons and countries. Short-term correlations are stronger than long-term ones for the US market, with the Chinese stock market displaying more stable correlations. Third, the hedging strategy is more effective in reducing volatility and risk for US stocks, while the diversification strategy proves more effective for Chinese stocks. These findings have implications for market participants striving to make their portfolios robust during turbulent times.

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“…According to the school reopening framework report jointly published by UNESCO, UNICEF, World Bank and WFP in April 2020, the decision to close schools globally was made to address the devastating impact of the pandemic on education, welfare and protection of children. (Yu & Xiao, 2023); (Bergen et al, 2023).…”

Section: Introductionmentioning

confidence: 99%

Blended Learning in an Effort to Overcome Learning Materials in Elementary Schools

Suprapto,

Amriyah,

Prihatmojo

2024

Al-Hayat J. Islamic. E.

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Blended learning is an innovative learning model that integrates relevant technology with learning. This study aims to describe the application of blended learning and its effect on students at the elementary school level as an effort to overcome the risk of falling behind in subject matter after the Covid-19 pandemic. This research uses a case study approach, including qualitative methods. Data collection techniques with interviews, observation and documentation. The analysis technique uses Cresswell analysis. The research results show that the application of blended learning in Sukarno Hatta elementary school is included in several learning models. These models are station rotation models, blog models, online learning, and independent learning. Blended learning can be a valuable alternative for managing student learning at the elementary school level. By utilizing technology and combining various models of approaches, we can overcome the backwardness of learning materials from the effects of changes in the world's education cycle, especially after Covid-19.

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COVID-19 Government restriction policy, COVID-19 vaccination and stock markets: Evidence from a global perspective

Cited by 24 publications

References 39 publications

The response of gold to the COVID-19 pandemic

The response of gold to the COVID-19 pandemic

Double Asymmetric Impacts, Dynamic Correlations, and Risk Management Amidst Market Risks: A Comparative Study between the US and China

Blended Learning in an Effort to Overcome Learning Materials in Elementary Schools

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