efforts, several structural sources of volatility remain, and new ones have emerged as a result of the new and otherwise … better economic environment. In this paper I review these sources through the recent experiences of Argentina, Chile and …

This work explores how Argentina overcame the Great Depression and asks whether active macroeconomic interventions made …-standard orthodoxy after the final suspension of convertibility in 1929. As elsewhere, fiscal policy in Argentina was conservative, and …

misaligned exchange rates, appear to have suffered more macroeconomic volatility and also grown more slowly during the postwar … more 'extractive' instit utions from their colonial past were more likely to experience high volatility a nd economic … policies appear to have only a minor impact on volatility and crises. This suggests that distortionary macroeconomic policies …

sample of four emerging small open economies: Argentina, Ecuador, Venezuela, and Brazil. We postulate a stochastic volatility …This paper shows how changes in the volatility of the real interest rate at which small open emerging economies borrow … motivate our investigation, we document the strong evidence of time-varying volatility in the real interest rates faced by a …

relationship between trade and exchange rate volatility / Christian Broda and John Romalis -- Comments: Chaiyasit Anuchitworawong …

, and show that it has significant explanatory power for the evolution of macroeconomic volatility. We define "fundamental …" volatility as the volatility that would arise from an economy made entirely of idiosyncratic microeconomic shocks, occurring … different sectors vary over time (in a way we directly measure), while the volatility of those sectors remains constant. We find …

volatility literature, namely its relative neglect of the connection between macroeconomic fundamentals and asset return … volatility. We progress by analyzing a broad international cross section of stock markets covering approximately forty countries …

shocks using methods from the news shocks literature, the analysis finds that innovations in realized stock market volatility … economy. Moreover, investors have historically paid large premia to hedge shocks to realized but not implied volatility. A … model in which fundamental shocks are skewed left can match those facts. Aggregate volatility matters, but it is the …