an expected long period of unemployment make a job more valuable during recessions. I estimate the elasticity of the …

We investigate the effects of uncertainty shocks on unemployment dynamics in the post-WWII U.S. recessions via non … linear VARs in terms of (i) magnitude of the reaction of the unemployment rate to such shocks, and (ii) contribution to the … variance of the prediction errors of unemployment at business cycle frequencies. We discuss the ability of different classes of …

increase in economic policy uncertainty on unemployment in recessions and expansions. We find the response of unemployment to … confirms that the contribution of EPU shocks to the volatility of unemployment at business cycle frequencies is markedly larger …