In this paper, we develop the Climate Policy Uncertainty Index (CPU) for the Italian context based on news from major Italian newspapers. The CPU index exhibits distinct movements around major national and international climate events. We also investigate the effects of CPU on the Italian financial market. The results provide evidence that a shock CPU has a negative impact on financial market performance.

中文翻译：

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气候政策不确定性对意大利金融市场的影响


在本文中，我们根据意大利主要报纸的新闻为意大利背景开发了气候政策不确定性指数 （CPU）。CPU 指数在主要国家和国际气候事件周围表现出明显的波动。我们还调查了 CPU 对意大利金融市场的影响。结果提供了证据，表明冲击 CPU 对金融市场表现有负面影响。