Canadian unemployment rate in booms and busts. We find strong evidence in favor of asymmetric spillover effects. Unemployment … of the 2-year ahead forecast error of the Canadian unemployment rate in periods of slack vs. just 2% during economic … of the latter, lead to a temporary increase in the Canadian unemployment rate. Evidence of asymmetric spillover effects …

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 …