论文标题
对金融市场的大流行和信任的焦虑
Anxiety for the pandemic and trust in financial markets
论文作者
论文摘要
COVID-19大流行在许多领域都产生了破坏性变化。在这里，我们专注于大流行期间人们感到的焦虑与金融市场未来表现的信任之间的焦虑之间的关系。确切地说，我们从以下想法中转发，即Google的数量搜索有关“冠状病毒”的搜索可以被视为焦虑的代表，并且与股票指数共同使用，可以用来产生情绪指标 - 就悲观和乐观而言，在国家 /地区层面。根据人类发展指数以及中国及其各自的主要股票市场指数，我们分析了“非常高的人类发达国家”。也就是说，我们提出了一种时间和全球的悲观和乐观量度，并因此提供了索引和国家的分类。结果表明，在悲观和乐观方面存在不同国家和市场的不同集群。此外，随着时间的流逝，特定的政权在2020年6月中旬的乐观传播日益扩散。此外，政府对大流行的反应不同的国家经历了不同水平的情绪指标，因此，严格锁定的国家的乐观程度更高。
The COVID-19 pandemic has generated disruptive changes in many fields. Here we focus on the relationship between the anxiety felt by people during the pandemic and the trust in the future performance of financial markets. Precisely, we move from the idea that the volume of Google searches about "coronavirus" can be considered as a proxy of the anxiety and, jointly with the stock index prices, can be used to produce mood indicators -- in terms of pessimism and optimism -- at country level. We analyse the "very high human developed countries" according to the Human Development Index plus China and their respective main stock market indexes. Namely, we propose both a temporal and a global measure of pessimism and optimism and provide accordingly a classification of indexes and countries. The results show the existence of different clusters of countries and markets in terms of pessimism and optimism. Moreover, specific regimes along the time emerge, with an increasing optimism spreading during the mid of June 2020. Furthermore, countries with different government responses to the pandemic have experienced different levels of mood indicators, so that countries with less strict lockdown had a higher level of optimism.
