uncertainty and skewness. Embedding these measures in a VAR framework, we show that unexpected changes in uncertainty are … response of skewness to uncertainty shocks shows that skewness substantially amplifies the recessionary effects of uncertainty. … associated with an increase in (left) skewness and a downturn in real activity. Empirical findings related to VAR impulse …

Recent events suggest that uncertainty changes play a major role in U.S. labor market fluctuations. This study analyzes … the impact of uncertainty shocks on unemployment dynamics. Using a vector autoregression approach, we show that … uncertainty shocks measured by stock market volatility have a significant impact on the U.S. unemployment rate. We then develop a …

Uncertainty has recently become a major concern for policymakers and academics. Spikes in uncertainty are often … associated with recessions and have detrimental effects on the aggregate economy. This paper analyzes the effects of uncertainty … negative effects of uncertainty on economic performance and in particular on the labor market. Counterfactual experiments …

uncertainty and skewness. Embedding these measures in a VAR framework, we show that unexpected changes in uncertainty are … response of skewness to uncertainty shocks shows that skewness substantially amplifies the recessionary effects of uncertainty … associated with an increase in (left) skewness and a downturn in real activity. Empirical findings related to VAR impulse …

We extend the canonical income process with persistent and transitory risk to shock distributions with left-skewness … and excess kurtosis, to which we refer as higher-order risk. We estimate our extended income process by GMM for household … data from the United States. We find countercyclical variance and procyclical skewness of persistent shocks. All shock …

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. …

frictions render labor-market risk countercyclical and endogenous to monetary policy. Our main result is that a majority of …

populated by a large number of long-lived, risk-averse households with homothetic preferences who can invest in risk … households less than half of human capital risk is insured and the welfare losses due to the lack of insurance range from 3 …