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 …

experienced relatively low and non inclusive economic growth as well as high levels of macroeconomic volatility. Important …

Euro on January 1, 1999, should be expected to contribute to reduced volatility of world commodity prices, other things … 1957-98 were associated with periods of lower real commodity price volatility. These stabilizing effects are statistically …

and world commodity supplies and the real exchange rate and real commodity prices. It is shown that fiscal expansion and … increasing world commodity supplies simultaneously lead to an appreciation of the real exchange rate and a decline in relative …

fluctuations in real commodity prices. Increased exchange rate volatility calls for a better understanding of these relations. To … multi-country model, with world market clearing, which incorporates speculative and non-speculative demands for inventories … matters, and that supply and demand elasticities are important in determining the commodity price in world markets above and …

Volatility in financial markets has forced economists to reexamine the validity of the efficient markets hypothesis … studies have found evidence of excessive volatility. In the aftermath of the stock market crash of 1987 and the perceived … increase in market volatility, some economists have advocated additional market regulations. Are these proposed regulations …