Financial uncertainty and macroeconomic uncertainty are commonly proxied separately by the volatility of stock returns or key macroeconomic variables, respectively. We propose a portfolio-based measure (PBMEU) that aims to capture aggregate uncertainty in both financial markets and the...

With the goal of perfecting the national governance system and raising the country’s governance capability, this book systematically analyzes the characteristics and trajectory of China’s economic expansion and structural adjustment, while also assessing a variety of short-term debt and...