This paper assesses the macroeconomic impact of fiscal policy shocks for four key emerging market economies – Brazil, Russia, India and China (BRICs) – using a fully simultaneous system of equations. We also estimate fiscal policy rules and analyze the importance of nonlinearity using a...

This paper studies volatility dynamics and provides further insights into its relationship with trading volume. In particular, we examine whether trading volume is significantly informative for investors when attempting to apprehend potential changes in volatility dynamics, and hence, in the...