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This study employs the network connectedness approach to examine the risk spillover between the economic policy uncertainty (EPU) and exchange rate volatility (ERV) of 21 countries. Using monthly data from January 1997 to August 2022, we find that the spillover effect of ERV on EPU is greater than that of the inverse. In addition, the spillover effect of EPU on ERV is mainly concentrated in the foreign exchange markets of developing countries. This finding indicates that the foreign exchange markets of developing countries are more susceptible to shocks of global economic risk, and the spreading of risk contagion between EPU and ERV mainly follows the pathway "increase in global ERV → rising global EPU → further intensified volatility in the foreign exchange markets of developing countries." A rolling-window analysis shows that the spillover between global EPU and ERV is time-varying. The cross-market spillovers between EPU and ERV in the post-crisis period continued to rise and further increased sharply after the outbreak of the COVID-19 pandemic. [ABSTRACT FROM AUTHOR]

The purpose of this study is to reveal the response of multi Lane pre disintegrated carbonaceous mudstone embankment under vehicle dynamic load. In this paper, the pre-disintegrated carbonaceous mudstone samples whose fractal dimension meets the requirements are obtained through the indoor disintegration test of carbonaceous mudstone. Geotechnical basic tests such as particle analysis experiments, compaction tests, and direct shear tests were carried out on the pre-disintegrated carbonaceous mudstone samples, and the physical and mechanical parameters of the pre-disintegrated carbonaceous mudstone were obtained. On this basis, a two-way 4-lane pre-disintegration carbonaceous mudstone embankment model of the expressway was established by ABAQUS numerical software. Three different working conditions are set up to study the dynamic response of multi-lane pre-disintegrated carbonaceous mudstone embankment under vehicle load. The results show that the stress change trend on the surface of the pre-disintegrated carbonaceous mudstone embankment without vehicles is the same as that on the side with vehicles. Under this condition, the vertical displacement of the pre-disintegrated carbonaceous mudstone embankment surface can be as high as 4.33mm, and the vertical displacement change of the embankment in the 0–0.6s phase is basically the same as the stress amplitude distribution. When a traffic jam occurs on one side, the maximum increase in vertical stress on the surface of the embankment on the normal driving side is about 170 kPa compared to condition one, and the vertical displacement at each depth of the embankment has been significantly increased. When a traffic jam occurs on one side, it can significantly increase the vertical stress on the surface of the pre-disintegrated carbonaceous mudstone embankment in this lane. The middle part of the stress time curve of monitoring points 3 and 4 in working condition three is more stable and significant than in working condition one, and the maximum vertical displacement is increased by about 1.70mm. The research results can reference the stability analysis of carbonaceous mudstone embankments and engineering practice. [ABSTRACT FROM AUTHOR]