shocks for income volatility in open economies. We show that exposure to country specific shocks has a positive and … significant impact on GDP volatility. In particular, we find that the degree to which the cycles of different trading partners are … correlated is more important in explaining exporters’ GDP volatility than the volatility of demand in individual export market …

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 …

finance higher investment and growth; (ii) insure against aggregate shocks and reduce consumption volatility; and (iii …

analyse the impulse response of new ideas to a shock to R&D or to a shock to innovation by estimating an error correction … consequence, a positive shock to innovation in a large country as the US has, both in the short and in the long run, a significant …

of life deep into the 18th century. Does world market integration breed more or less commodity price volatility? The … been associated with much greater commodity price volatility, while world market integration associated with peace and pro …Poor countries are more volatile than rich countries, and we know this volatility impedes their growth. We also know …

investment funds traces out a mean-variance tradeoff for the growth rate of the economy. In particular, the volatility of these … and volatility. …

include the US and a European (E15) aggregate. In relative terms, the conditional volatility of E15 growth has declined more … since 1980 than the well-documented decline for the US. The propagation of shocks has also changed, with the volatility and …