evidence for changes in persistence and in volatility of price across three well defined periods. We argue that historically … account for the increased volatility of oil price we observe in these periods …

to have dealt with the volatility better. Why? This paper explores Australian terms of trade volatility since 1901. It … identifies two major price shock episodes before the recent mining-led boom and bust. It assesses their relative magnitude, their …

A widely held view is that openness to international trade leads to higher GDP volatility, as trade increases … important, openness to international trade can lower GDP volatility by reducing exposure to domestic shocks and allowing … question of whether and how international trade affects economic volatility …

data on stock market levels and volatility as proxies for the first and second moments of business conditions. We then use …

This paper studies the impact of aid volatility in a two-period model where production may occur with either a … modern technology to be used. The possibility of a poverty trap induced by high aid volatility is first examined in a …-period contingency fund) financed through taxation. An increase in aid volatility is shown to raise the optimal contingency fund. But if …

uncertainty. The results dictate the role of uncertainty and volatility in structural models and we show they are consistent with …

We develop a novel measure of volatility pass-through to assess international propagation of output volatility shocks … to macroeconomic aggregates, equity prices, and currencies. An increase in country's output volatility is associated with … output volatility increases consumption volatility by 0.5%) and it increases to 70% for shocks originating in smaller …

idiosyncratic stock market volatility, on individual outcomes. We find that firms provide at best partial insurance to their workers … greater financial fragility among lower-income earners. We also construct a new county-level uncertainty shock and find that …

Shocks to equity options' ATM implied volatility (ATMIV) are followed by persistently lower short-term rates. Shocks to …