increase in protectionist pressures, and the disappointing performance of world trade, renewed concern has been expressed about …

volatility creates risks to service provision, possibly entailing sudden tax changes, or even requiring new borrowing. After … fiscal savings (reserves), and the impact alternate policy choices could have on revenue volatility …

response, is framed by the volatility and uncertainty that characterize the oil market. Volatile prices arise from supply and … volatility of prices make it difficult to reach simple conclusions about how oil producers and consumers should respond to price …

and world commodity supplies and the real exchange rate and real commodity prices. It is shown that fiscal expansion and … increasing world commodity supplies simultaneously lead to an appreciation of the real exchange rate and a decline in relative … that theory and structure help in predicting commodity prices, although not the exchange rate, and that predictive ability …

This paper studies the impact of the level and volatility of the commodity terms of trade on economic growth, as well … of trade growth enhances real output per capita, volatility exerts a negative impact on economic growth operating mainly … trade volatility offset the positive impact of commodity booms; and export diversification of primary commodity abundant …