Fig. 4: Causality between the uncertainty indexes and the Industrial production index (IPI) (Quarterly frequency).
From: How volatility in the oil market and uncertainty shocks affect Saudi economy: a frequency approach
a Oil return volatility and IPI. b GPR and IPI. c WUI and IPI. Each panel demonstrates the influence of a specific uncertainty indicator—oil return volatility, GPR, and WUI—on industrial production, as measured by the IPI.
