A recent literature has pointed at potential negative effects of exchange rate volatility on innovation. In this paper … years 1987 - 2003. We find that the direct negative effect of volatility is pronounced in manufacturing sector but is … dominated by the indirect effect via the export channel. Services do not face any effects of volatility on R&D intensities …

This paper analyzes the impacts of news shocks on macroeconomic volatility. Whereas anticipation amplifies volatility …) to provide numerical evidence that news shocks increase the volatility of key macroeconomic variables in the euro area …

Stylized facts suggest that output volatility in OECD countries has declined in recent years. However, the causes and … structural breaks in the dynamics and the volatility of the real output process in Germany can be detected. We report evidence … that output volatility has declined in Germany. Yet, this decline in output volatility is not as clear-cut as it is in the …