Uncertainty and asset prices: Evidence at times of COVID-19 and beyond

Closes:
Guest editor(s)

Thomas C. Chiang

,

Yi Tang

,
Submission opens 31st March 2022

Uncertainty affects investors’ decisions, households’ consumption and government policy formation and delivery, typically increasing the public’s fears and pressuring policymakers to intercede in their economies. In the case of COVID-19, which has dragged on for years, daily news revelations have undermined confidence in the future and heightened uncertainty in public and private sectors due to prolonged supply chain interruptions, high inflation rates and the potential emergence of new variants. The prolonged duration of the pandemic has deepened uncertainty regarding its impact. Governments’ stimulus packages have helped to rescue many businesses, but the recovery has been uneven across different sectors. Record government spending has helped many consumers, but it has also created tremendous inflationary pressure. 

This special issue collects papers that capture investor behavior in response to price changes, volatility fluctuations, and COVID-19 uncertainty as well as reactions to government policy changes, especially as they may impact future developments. Topics of special interest include, but not limited to, as follows: 

  • Assessment of conditional volatility models in predicting excess asset returns 
  • Policy uncertainty and asset price instability 
  • Pandemic and equity price volatility 
  • Assets for hedging uncertainty 
  • Uncertainty spillovers in global markets 
  • Sources of uncertainty and their impact on stock prices 
  • Investors’ strategy and sector/country’s relative return changes 
  • Government policies in response to COVID-19 and stock market performance 
  • New approaches to measuring uncertainty and their applications in asset pricing.

Manuscript Submission Information

The special issue is expected to be published in 2023. All submissions will undergo the same strict double blind peer review process that is generally applied for the journal. Accepted papers will be published continuously in the journal (as soon as accepted).  

To submit a manuscript, please register and submit your paper online at: https://mc.manuscriptcentral.com/cfri. When making your submission, please choose the Special Issue entitled “Uncertainty and asset prices: Evidence at times of COVID-19 and beyond”. A guide for authors and other relevant information for submission of manuscripts is available on the Author Guidelines page. Manuscripts can be submitted until the deadline. Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere. The submission portal opens from March 31, 2022. The deadline for submissions is September 30, 2022.

Guest Editors

Thomas C. Chiang

Professor Emeritus of Finance

Drexel University 

Yi Tang

Professor of Finance

Fordham University