increasing it only cautiously. Volatility in domestic investment can to an extent be moderated by a buffer of international …

add signi?cantly to the dynamics implied by learning and substantially enhance the volatility of commodity prices. In our … substantial volatility in commodity prices despite the fact the model is subject only to i.i.d shocks. The shifting SCE signi … of the Hotelling model, a shifting SCE and variable escape dynamics introduces greater volatility at low frequencies and …

The volatility of unanticipated output growth in income per capita is detrimental to long-run development … effect is significant and robust over awide range of specifications. We unravel the effects of volatility by opening the …, physical and institutional barriers to trade and associated policy shocks increase volatility sharply and harm growth through …

doing this in the short run. Foreign asset accumulation should be used primarily to smooth volatility, rather than to build …

Cross-country evidence is presented on resource dependence and the link between volatility and growth. First, growth … depends negatively on volatility of unanticipated output growth independent of initial income per capita, the average … growth. Second, the adverse effect of resources on growth operates primarily through higher volatility. The positive effect …

volatility channel may lead one to erroneously conclude that there is no effect of resources on growth. …

This paper studies the volatility of commodity prices on the basis of a large dataset of monthly prices observed in … evidence does not actually attempt to measure the volatility of prices of individual goods or commodities. The literature tends … to focus on trends in the evolution and volatility of ratios of price indexes composed of multiple commodities and …