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

Table VI

Estimates of the Influence of EPU on Bitcoin and gold volatility (Eqn 2) with the quantile regression model for the period 19 July 2010–11 April 2019

$τ$	Coefficient	$V_{1,Bit}$				$V_{1,Gold}$
$τ$	Coefficient	Value	Standard error	t value	Pr (>\| t \|)	Value	Standard error	t value	Pr (>\| t \|)
0.01	(Intercept)	2.24e-12	0.00117	1.92e-9	1.000	0.00209	0.00061	3.42449	0.00063***
0.01	EPU	0.00000	9.21e-6	−2.19e-9	1.000	−0.00001	0.00000	−1.28578	0.19865
0.05	(Intercept)	0.01500	0.00085	17.6430	<0.0001***	0.00568	0.00035	16.40935	<0.0001***
0.05	EPU	−0.00009	0.00001	−16.1776	<0.0001***	0.00000	0.00000	−1.08193	0.27940
0.1	(Intercept)	0.01889	0.00069	27.3523	<0.0001***	0.00670	0.00022	29.99340	<0.0001***
0.1	EPU	−0.00008	0.00001	−13.1024	<0.0001***	0.00000	0.00000	−0.89404	0.37139
0.25	(Intercept)	0.02509	0.00093	26.9404	<0.0001***	0.00853	0.00028	30.25833	<0.0001***
0.25	EPU	−0.00002	0.00001	−2.9173	0.0036***	0.00000	0.00000	0.29503	0.76800
0.75	(Intercept)	0.07021	0.00420	16.7169	<0.0001***	0.01484	0.00068	21.86400	<0.0001***
0.75	EPU	0.00012	0.00004	3.1697	0.0015***	0.00002	0.00001	2.45110	0.01432**
0.9	(Intercept)	0.11843	0.01412	8.3863	<0.0001***	0.01923	0.00088	21.76846	<0.0001***
0.9	EPU	0.00027	0.00015	1.7677	0.0772*	0.00004	0.00001	4.36335	<0.0001***
0.95	(Intercept)	0.14169	0.02310	6.1349	<0.0001***	0.02313	0.00107	21.64825	<0.0001***
0.95	EPU	0.00097	0.00027	3.6582	0.0003***	0.00005	0.00001	4.09126	<0.0001***
0.99	(Intercept)	0.30609	0.07566	4.0456	<0.0001***	0.03779	0.00629	6.00428	<0.0001***
0.99	EPU	0.00136	0.00086	1.5894	0.1121	0.00006	0.00005	1.20897	0.22680

$τ$	Coefficient	$V_{1,Bit}$				$V_{1,Gold}$
$τ$	Coefficient	Value	Standard error	t value	Pr (>\| t \|)	Value	Standard error	t value	Pr (>\| t \|)
0.01	(Intercept)	2.24e-12	0.00117	1.92e-9	1.000	0.00209	0.00061	3.42449	0.00063***
0.01	EPU	0.00000	9.21e-6	−2.19e-9	1.000	−0.00001	0.00000	−1.28578	0.19865
0.05	(Intercept)	0.01500	0.00085	17.6430	<0.0001***	0.00568	0.00035	16.40935	<0.0001***
0.05	EPU	−0.00009	0.00001	−16.1776	<0.0001***	0.00000	0.00000	−1.08193	0.27940
0.1	(Intercept)	0.01889	0.00069	27.3523	<0.0001***	0.00670	0.00022	29.99340	<0.0001***
0.1	EPU	−0.00008	0.00001	−13.1024	<0.0001***	0.00000	0.00000	−0.89404	0.37139
0.25	(Intercept)	0.02509	0.00093	26.9404	<0.0001***	0.00853	0.00028	30.25833	<0.0001***
0.25	EPU	−0.00002	0.00001	−2.9173	0.0036***	0.00000	0.00000	0.29503	0.76800
0.75	(Intercept)	0.07021	0.00420	16.7169	<0.0001***	0.01484	0.00068	21.86400	<0.0001***
0.75	EPU	0.00012	0.00004	3.1697	0.0015***	0.00002	0.00001	2.45110	0.01432**
0.9	(Intercept)	0.11843	0.01412	8.3863	<0.0001***	0.01923	0.00088	21.76846	<0.0001***
0.9	EPU	0.00027	0.00015	1.7677	0.0772*	0.00004	0.00001	4.36335	<0.0001***
0.95	(Intercept)	0.14169	0.02310	6.1349	<0.0001***	0.02313	0.00107	21.64825	<0.0001***
0.95	EPU	0.00097	0.00027	3.6582	0.0003***	0.00005	0.00001	4.09126	<0.0001***
0.99	(Intercept)	0.30609	0.07566	4.0456	<0.0001***	0.03779	0.00629	6.00428	<0.0001***
0.99	EPU	0.00136	0.00086	1.5894	0.1121	0.00006	0.00005	1.20897	0.22680

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