that a rise in conditional consumption growth volatility relative to the rest of the world reduces the foreign exchange … relation between the volatility in consumption growth and the level of real interest rates relative to the world interest rate …We construct a measure of the short-term world interest rate using principal component analysis. Drawing on real …

Empirical evidence indicates that high oil price volatility has a dampening effect on output in countries that import … of commodity price volatility in commodity exporting countries accounting for both oil and non-oil commodities. To that … significant negative impact of price volatility on real output for oil exporters. Our results for exporters of other commodities …

average higher volatility of output growth (1) accumulated higher external assets in the long-run and (2) experienced more …