Choi, Sangyup; Loungani, Prakash - International Monetary Fund (IMF) - 2015
We study the role of uncertainty shocks in explaining unemployment dynamics, separating out the role of aggregate and … measure aggregate and sectoral uncertainty and compare their effects on the unemployment rate in a standard macroeconomic … the impact dissipating within a year. In contrast, sectoral uncertainty has a long-lived impact on unemployment, with the …