that theory and structure help in predicting commodity prices, although not the exchange rate, and that predictive ability …

This paper examines the impact of trade costs on real exchange rate volatility. We incorporate a multi … exchange rate volatility depends on relative technological differences and trade costs. These differences highlight a new … volatility. We then test the importance of this channel using a large panel of cross-country data over 1970-97, and find strong …

This paper studies the impact of the level and volatility of the commodity terms of trade on economic growth, as well … (CPMG) methodology of Pesaran et al. (1999) for estimation. The latter takes account of cross-country heterogeneity and … of trade growth enhances real output per capita, volatility exerts a negative impact on economic growth operating mainly …

We study the impact of a minimum wage on business cycle volatility, depending upon its coverage and adjustment … affecting 20 percent of employees would amplify output volatility by 0.2 percent to 9.2 percent, and employment volatility by ?1 ….2 percent to 7.8 percent. A fixed wage or indexation to consumption price inflation increases volatility most. Indexation to …

This paper examines the impact of trade costs on real exchange rate volatility. The channel is examined by constructing … higher trade costs result in a larger nontradable sector. This, in turn, leads to higher real exchange rate volatility. We …