Table V Estimates of the Influence of... | Emerald Publishing

Table V

Estimates of the Influence of EPU on Bitcoin and gold returns with the quantile regression model for the period 19 July 2010–11 April 2019

$τ$	Coefficient	$R_{Bit}$				$R_{Gold}$
$τ$	Coefficient	Value	Standard error	t value	Pr (>\| t \|)	Value	Standard error	t value	Pr (>\| t \|)
0.01	(Intercept)	−0.12650	0.02591	−4.8812	<0.0001***	−0.02115	0.00374	−5.64767	<0.0001***
0.01	EPU	−0.00062	0.00030	−2.0334	0.0421**	−0.00004	0.00004	−1.13347	0.25713
0.05	(Intercept)	−0.06680	0.00740	−9.0332	<0.0001***	−0.01246	0.00133	−9.34508	<0.0001***
0.05	EPU	−0.00007	0.00008	−0.8762	0.3810	−0.00002	0.00001	−1.63203	0.10281
0.1	(Intercept)	−0.03993	0.00425	−9.4027	<0.0001***	−0.00918	0.00085	−10.82975	<0.0001***
0.1	EPU	−0.00003	0.00004	−0.6677	0.5044	0.00000	0.00001	−0.44671	0.65513
0.25	(Intercept)	−0.01428	0.00145	−9.8780	<0.0001***	−0.00428	0.00046	−9.30504	<0.0001***
0.25	EPU	0.00003	0.00001	3.1226	0.0018***	0.00000	0.00000	1.00389	0.31554
0.75	(Intercept)	0.02098	0.00179	11.7249	<0.0001***	0.00285	0.00034	8.29044	<0.0001***
0.75	EPU	−0.00002	0.00001	−1.3070	0.1913	0.00002	0.00000	4.82690	<0.0001***
0.9	(Intercept)	0.04457	0.00406	10.9693	<0.0001***	0.00748	0.00092	8.12939	<0.0001***
0.9	EPU	0.00008	0.00004	1.7781	0.0755*	0.00002	0.00001	2.38219	0.01729**
0.95	(Intercept)	0.07818	0.01184	6.6030	<0.0001***	0.01014	0.00084	12.05444	<0.0001***
0.95	EPU	0.00012	0.00011	1.1215	0.2622	0.00003	0.00001	2.68226	0.00736***
0.99	(Intercept)	0.08579	0.03738	2.2949	0.0218**	0.01773	0.00357	4.96655	<0.0001***
0.99	EPU	0.00168	0.00058	2.8882	0.0039***	0.00006	0.00004	1.43692	0.15088

$τ$	Coefficient	$R_{Bit}$				$R_{Gold}$
$τ$	Coefficient	Value	Standard error	t value	Pr (>\| t \|)	Value	Standard error	t value	Pr (>\| t \|)
0.01	(Intercept)	−0.12650	0.02591	−4.8812	<0.0001***	−0.02115	0.00374	−5.64767	<0.0001***
0.01	EPU	−0.00062	0.00030	−2.0334	0.0421**	−0.00004	0.00004	−1.13347	0.25713
0.05	(Intercept)	−0.06680	0.00740	−9.0332	<0.0001***	−0.01246	0.00133	−9.34508	<0.0001***
0.05	EPU	−0.00007	0.00008	−0.8762	0.3810	−0.00002	0.00001	−1.63203	0.10281
0.1	(Intercept)	−0.03993	0.00425	−9.4027	<0.0001***	−0.00918	0.00085	−10.82975	<0.0001***
0.1	EPU	−0.00003	0.00004	−0.6677	0.5044	0.00000	0.00001	−0.44671	0.65513
0.25	(Intercept)	−0.01428	0.00145	−9.8780	<0.0001***	−0.00428	0.00046	−9.30504	<0.0001***
0.25	EPU	0.00003	0.00001	3.1226	0.0018***	0.00000	0.00000	1.00389	0.31554
0.75	(Intercept)	0.02098	0.00179	11.7249	<0.0001***	0.00285	0.00034	8.29044	<0.0001***
0.75	EPU	−0.00002	0.00001	−1.3070	0.1913	0.00002	0.00000	4.82690	<0.0001***
0.9	(Intercept)	0.04457	0.00406	10.9693	<0.0001***	0.00748	0.00092	8.12939	<0.0001***
0.9	EPU	0.00008	0.00004	1.7781	0.0755*	0.00002	0.00001	2.38219	0.01729**
0.95	(Intercept)	0.07818	0.01184	6.6030	<0.0001***	0.01014	0.00084	12.05444	<0.0001***
0.95	EPU	0.00012	0.00011	1.1215	0.2622	0.00003	0.00001	2.68226	0.00736***
0.99	(Intercept)	0.08579	0.03738	2.2949	0.0218**	0.01773	0.00357	4.96655	<0.0001***
0.99	EPU	0.00168	0.00058	2.8882	0.0039***	0.00006	0.00004	1.43692	0.15088

Note(s): ***, ** and * indicate the significance at 1%, 5% and 10% levels, respectively