| dc.description.abstract | This article contributes to the literature on the impact of the Covid-19 epidemic. We
investigate the link between the stock market and oil prices under rising and falling
economic conditions considering the degree of uncertainty at different time periods.
We applied a wavelet framework on a daily dataset covering the period before COVID-
19 and COVID-19. We find that the link between these economic and financial pairs is
characterized by significant changes over the sampling period, where major co-moves
have been identified during the pandemic in a consistent way. As a result of the
lockdown and the oil price shock, stock returns fall and uncertainty intensifies. The
results indicate that the COVID-19 outbreak negatively affects the economy and
financial markets and supports the sensitivity, especially when oil stock and economic
conditions are affected considerably. | en_US |
