How much does speculation contribute to oil price volatility? We revisit this contentious question by estimating a sign … the contribution of speculation to short-term oil price volatility (lying between 3 and 22 percent). This estimated short …

This paper examines the impact of international financial integration on macroeconomic volatility in a large group of … industrial and developing economies over the period 1960-99. We report two major results: First, while the volatility of output … volatility of consumption growth relative to that of income growth has increased for more financially integrated developing …

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 … economies, financial depth amplifies consumption and investment volatility. We also find strong evidence that deeper financial …