According to United Nations High Commissioner for Refugees, the number of refugees worldwide rose to 21.3 million in 2015. Yet, resistance to the welcoming of refugees appears to have grown. The possibility that refugees may commit acts of terrorism or engage in criminal behavior has served as...

Time series on U.S. international macroeconomic variables from the prewar period are compared to postwar data to explore whether the uncertainty experienced by economic agents differs over the two historical time periods. Conditional time series measures of uncertainty reveal that shocks to the...