, and investment in the face of high income volatility. We study this allocation problem in a precautionary saving and …

identify the effects of OPEC announcements on oil price fluctuations. Results show that price volatility is higher than typical …

alia, a useful analytical framework to explore the effects of: a change in world GDP growth; a change in the efficiency of …

This paper studies the impact of the level and volatility of the commodity terms of trade on economic growth, as well … of trade growth enhances real output per capita, volatility exerts a negative impact on economic growth operating mainly … trade volatility offset the positive impact of commodity booms; and export diversification of primary commodity abundant …

How much does speculation contribute to oil price volatility? We revisit this contentious question by estimating a sign … model of the world oil market à la Kilian and Murphy (2013), since both imply a positive co-movement of oil prices and … the contribution of speculation to short-term oil price volatility (lying between 3 and 22 percent). This estimated short …

volatility of oil-exporting countries and have been used successfully by other commodity exporters. Using a global DSGE model …

to be greater andoutput volatility higher. Furthermore, I find that an unexpected increase in oil price leads toexpansion … priceshocks and reduce volatility in non-oil output …

instruments based on a limited set of benchmark world prices for a narrow set of commodities may suffice to realize most of the …