Series: IMF Working Papers
Author(s): Sangyup Choi , and Prakash Loungani
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 23 February 2015
Keywords: aggregate uncertainty, sectoral uncertainty, stock market, Great Recession, unemployment rate, labor, labor market, long-term unemployment, Financial Markets and the Macroeconomy,
We study the role of uncertainty shocks in explaining unemployment dynamics, separating out the role of aggregate and sectoral channels. Using S&P500 data from the first quarter of 1957 to third quarter of 2014, we...