Figure 1: Robustness results regarding the breadth of press coverage: IRFs of GDP to EPU shocks
(percentage points)
Examples include the political violence index of Mueller and Rauh (2018), the geopolitical risk index (Caldara and Iacoviello, 2022), theWorld Uncertainty Index (Ahir et al., 2019) and the Reported Social Unrest Index (Barrett et al., 2020).
When considering foreign sources, they select the major international newspapers produced in the US, the UK and Canada, since the Anglophone press is the most standard international source used in the literature.