Unitary recurrent neural networks (URNNs) have been proposed as a method to overcome the vanishing and exploding gradient problem in modeling data with long-term dependencies. A basic question is how restrictive is the unitary constraint on the possible input-output mappings of such a network? This works shows that for any contractive RNN with ReLU activations, there is a URNN with at most twice the number of hidden states and the identical input-output mapping. Hence, with ReLU activations, URNNs are as expressive as general RNNs. In contrast, for certain smooth activations, it is shown that the input-output mapping of an RNN cannot be matched with a URNN, even with an arbitrary number of states. The theoretical results are supported by experiments on modeling of slowly-varying dynamical systems.