This paper analyzes the evolution of volatility and cross-country comovement in output, consumption, and investment … fluctuations using two distinct datasets. The results suggest that there has been a significant decline in the volatility of …. However, for emerging market economies, financial globalization appears to have been associated, on average, with an increase …

frequency volatility—i.e., the component of volatility that persists for longer than one harvest year—may be more challenging as … uncertainty regarding its persistence is likely to be higher. This paper measures the low frequency volatility of food commodity … spot prices using the spline- GARCH approach. It finds that low frequency volatility is positively correlated across …

The large swings in world food prices in recent years renew interest in the question of how monetary policy in small … sticky prices and where food plays a distinctive role in utility. We show how world food price shocks affect natural output … real world data …

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 …

as conventional wisdom-that output volatility and growth are negatively correlated. We reexamine this relationship in the … context of globalization-a term typically used to describe the phenomenon of growing international trade and financial … negative association between growth and volatility has been preserved during the 1990s, both trade and financial integration …