Measuring Economic Policy Uncertainty: Suggestions for Measurement for Vietnam

Abstract

This article provides an overview of how to measure uncertainty and economic policy uncertainty in some countries around the world. Using meta-analysis, a statistical technique that combines results from multiple similar studies to provide a more reliable conclusion, the authors have quantified uncertainty for the first time, a measure that remains to be further developed and applied in empirical research. In addition, the author delves into how countries measure economic policy uncertainty, from which, he draws out the measurement method that can be applied in Vietnam. The author’s research is meaningful to government agencies and policy makers in promptly grasping the level of economic policy uncertainty to make appropriate decisions in the current period of increasing uncertainty.