How should monetary policy respond to large fluctuations in world food prices? We study this question in an open … response to world food price shocks. This exacerbates the policy trade-off between stabilizing output prices vis a vis the real …

This paper assesses how regional trade agreements (RTAs) impact growth volatility on a worldwide sample of 170 …, improved policy coordination, and reduced risk of conflicts can ease growth volatility. Empirical estimations suggest the … benefits outweigh the costs as RTAs are consistently associated with lower growth volatility, after controlling for trade …

emerging markets, which reduces the volatility of their total net inflows despite higher volatility of the components. Capital …

, institutional, political and social underpinnings to uncover the “missing” determinants of exchange rate volatility over time and … volatility, especially in emerging market economies. After controlling for standard macroeconomic factors, we find that the “soft … exchange rate volatility across countries …

This paper studies the role of an increase in foreign exchange reserves in reducing currency volatility for emerging … introduced in the regressions to account for other factors affecting exchange rate volatility (monetary and external indicators … exchange rate regime, since the regime can affect both the level of reserves and exchange rate volatility. The results provide …

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 …