We study the impact of a minimum wage on business cycle volatility, depending upon its coverage and adjustment … affecting 20 percent of employees would amplify output volatility by 0.2 percent to 9.2 percent, and employment volatility by ?1 ….2 percent to 7.8 percent. A fixed wage or indexation to consumption price inflation increases volatility most. Indexation to …

pricing securities, and the relationship between returns and conditional volatility. GARCH(p,q)-M models estimated for the … returns to exhibit volatility clustering; and a significant positive link between risk and returns, which was significantly …

that China''s stock market is not immune to the financial crisis, as evidenced by the price and volatility spillovers from … the United States. In addition, HK''s equity returns have exhibited more significant price and volatility spillovers from … the United States than China''s returns, and past volatility shocks in the United States have a more persistent effect on …

volatility creates risks to service provision, possibly entailing sudden tax changes, or even requiring new borrowing. After … fiscal savings (reserves), and the impact alternate policy choices could have on revenue volatility …