episodes of very high uncertainty. First, we identify episodes of very high uncertainty using a regime-switching model. Second …, we assess the behaviour of macroeconomic and financial variables during these episodes of very high uncertainty. This … markets. We find that very high uncertainty episodes are associated with a weaker growth performance and sharp declines in …

episodes of very high uncertainty. First, we identify episodes of very high uncertainty using a regime-switching model. Second …, we assess the behavior of macroeconomic and financial variables during these episodes of very high uncertainty. This … markets. We find that very high uncertainty episodes are associated with a weaker growth performance and sharp declines in …

In this paper we investigate transmission and spillovers of local and foreign economic policy uncertainty shocks to … addition to local effects we find foreign uncertainty shocks influence the Euro area but not the US unemployment. Moreover we … document weaker spillovers of both local and foreign uncertainty shocks in the more volatile times. …