RT Journal Article
T1 A crisis like no other?: financial market analogies of the covid-19-cum-Ukraine war crisis
A1 Andrada Félix, Julián
A1 Fernández Rodríguez, Fernando
A1 Sosvilla Rivero, Simón Javier
AB In this paper, we examine the dynamic behaviour of the US stock market due to the subsequent impact of the COVID-19 outbreak and the war in Ukraine. To that end, we analyse daily data of Dow Jones Industrial Average returns from 2 January 1900 to 31 October 2022. Firstly, we identify past crisis episodes similar to the current situation. Then, we compare the volatility dynamics, variation-fluctuation correlation functions, and correlation with uncertainty indicators with those induced by the COVID-19 epidemic and the subsequent Russo-Ukrainian conflict. Our findings suggest that the consecutive occurrence of these unexpected events has had more severe adverse effects on the US stock market than those recorded in similar past episodes. Additionally, we found that the events are highly correlated with indicators of economic policy uncertainty and financial market fear.
PB Elsevier
SN 1062-9408
YR 2024
FD 2024
LK https://hdl.handle.net/20.500.14352/104925
UL https://hdl.handle.net/20.500.14352/104925
LA eng
NO Andrada-Félix, J., Fernández-Rodríguez, F. y Sosvilla-Rivero, S. A crisis like no other? Financial market analogies of the COVID-19-cum-Ukraine war crisis. The North American Journal of Economics and Finance, Volume 74, 2024, 102194.
NO Ministerio de Ciencia e Innovación (España)
NO Generalitat de Catalunya
DS Docta Complutense
RD 26 dic 2025