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Gholipour, H., Dunkley, M. Economic Policy Uncertainty and Household Financial Assets. Applied Economics Quarterly, 65(2), 101-114.
Gholipour, Hassan F. and Dunkley, Mary Elizabeth "Economic Policy Uncertainty and Household Financial Assets" Applied Economics Quarterly 65.2, , 101-114.
Gholipour, Hassan F./Dunkley, Mary Elizabeth: Economic Policy Uncertainty and Household Financial Assets, in: Applied Economics Quarterly, vol. 65, iss. 2, 101-114, [online]


Economic Policy Uncertainty and Household Financial Assets

Gholipour, Hassan F. | Dunkley, Mary Elizabeth

Applied Economics Quarterly, Vol. 65 (2019), Iss. 2 : pp. 101–114

1 Citations (CrossRef)

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Article Details


Author Details

Gholipour, Hassan F., School of Business, Western Sydney University, Sydney, Australia.

Dunkley, Mary Elizabeth, Swinburne Business School, Swinburne University of Technology, Hawthorn, VIC 3122 Australia.

Cited By

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    Research in International Business and Finance, Vol. 58 (2021), Iss. P.101457 [Citations: 8]


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We examine the relationship between economic policy uncertainty (EPU) and patterns of two major household financial assets. Using data from a set of OECD countries from 1995 to 2016 and applying cointegrating regressions, we find evidence that escalations in EPU shift households’ portfolios away from shares and towards currency and deposits. Our results have important implications for macroeconomic policymakers and corporate finance managers.

JEL Classifications: G11, D81

Policy Uncertainty; Household Financial Assets; FMOLS

Table of Contents

Section Title Page Action Price
Hassan F. Gholipour / Mary Elizabeth Dunkley: Economic Policy Uncertainty and Household Financial Assets 1
Abstract 1
1. Introduction 1
2. Data 3
3. Empirical Analysis 5
3.1 Unit Root Tests 5
3.2 Panel Cointegration Tests 6
3.3 Long-Run Coefficients 6
3.4 Robustness Check Using Alternative Estimation Method 8
3.5 Short-Run Dynamics 8
4. Conclusion and Implications 1
References 1