Video effects can be used to enhance the emotional impact of a video by manipulating colors, lighting, and visual elements. For example, a warmer color palette can create a more comforting or nostalgic mood, while cooler tones can convey a sense of distance or detachment. Effects such as slow motion or time-lapse can also affect the pacing and mood of a video. Additionally, the use of filters, overlays, and transitions can add texture and depth to a video, further enhancing the emotional impact. By carefully selecting and applying video effects, creators can effectively convey a specific mood or emotion to their audience.