Economic Policy Uncertainty Shocks and Chinese Stock Market Volatility: An Empirical Analysis with SVAR

Figure 5

Cumulative impulse response of different stock volatility returns to EPU shocks. Note: the solid black lines denote the median impulse response, the shaded region represents 68% error bands, and each period is a month.

(a)

(b)

(c)

(d)

(e)

(f)