volatility of revenues, have failed to save a sufficiently high proportion of their resource revenues and failed to make high …

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

EGARCH-M models based on a daily, weekly, and monthly S&P–500 returns over the period October 1934–September 1994 … reveal that higher margins have a much stronger negative relation to subsequent volatility in bull markets than in bear … markets. Higher margins are also negatively related to subsequent conditional stock returns, apparently because they reduce …

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 …

Cross-country evidence is presented on resource dependence and the link between volatility and growth. First, growth … depends negatively on volatility of unanticipated output growth independent of initial income per capita, the average … growth. Second, the adverse effect of resources on growth operates primarily through higher volatility. The positive effect …