We examine the cyclical properties of development aid using bilateral data for 22 donors and over 100 recipients during … recipient countries. However, they become countercyclical when recipient countries face large adverse shocks to the terms-of-trade …

smoothing effect is particularly pronounced for consumption volatility in environments of high exposure - when trade and …This paper examines the impact of financial depth on macroeconomic volatility using a dynamic panel analysis for 110 … advanced and developing countries. We find that financial depth plays a significant role in dampening the volatility of output …