The paper analyses the impact of financial liberalization and reform in emerging markets on the dynamics of capital … liberalization, combined with the cost of absorbing large inflows in emerging eonomies, leads to rich dynamics of capital flows and …, if investors have incomplete information about new emerging markets, and learn over time, there can be high volatility of …

resulting volatility can induce risk-averse transactors who face transaction costs to desert these markets altogether. Thus … thinness and the consequent price volatility may become joint self-perpetuating features of an equity market, whatever the … volatility of asset fundamentals. If, however, appropriate incentive schemes are adopted to encourage entry of additional …

This paper analyzes the relationship between the volatility of corporate bond returns and standard financial and … volatility that distinguishes the short-term dynamics from the long-run component of volatility. Both the in-sample and out …

velocity volatility at both business cycle and long run frequencies. With filtered velocity turning negative, starting during …

reveal that higher margins have a much stronger negative relation to subsequent volatility in bull markets than in bear …

forward premia on monthly exchange rate returns in a framework that allows for volatility timing. We implement Bayesian … stochastic volatility innovations; and (ii) strategies based on combined forecasts yield large economic gains over the random …

outside the Union. The analysis indicates the need to distinguish between short-term oscillations (i.e. volatility) and medium …

Black/Scholes constant volatility assumption is violated in practice. These authors hypothesize that the volatility of the … underlying asset’s return is a deterministic function of the asset price and time, and develop the deterministic volatility … 1993, we evaluate the economic significance of the implied deterministic volatility function by examining the predictive …

(particularly) interstate liberalization of bank branching restrictions. This effect arises primarily from convergence in the … volatility of state output growth, rather than in its average. The realized industry shares of output also converge faster to … their efficient counterparts following liberalization, particularly for industries that are characterized by young, small …