volatility. Expanding the sample to 121 developing countries confirms this result, although this role of shock-absorber fades …-whether financial intermediation is performed through banks or markets-for macroeconomic volatility, against the backdrop of increased … sector development acts as a shock-absorber in poor countries, dampening the transmission of terms of trade shocks to growth …

than 40 percent of the volatility of aggregate sales. Although quite large, this contribution is smaller than documented in …

volatility could translate into a fall in world economic growth of around 0.29 percentage points, but it could also have negative …China's GDP growth slowdown and a surge in global financial market volatility could both adversely affect an already … negative GDP shock in China (equivalent to a one-off one percent growth shock) could have significant global macroeconomic …

optimal to sell many higher-risk assets when a shock to one asset occurs …

Even prior to the extreme volatility just observed, output growth volatility-following protracted decline … country to transmit rapidly to other countries, creating the potential for heightened global volatility. The higher …

We study equity price volatility in general equilibrium with news shocks about future productivity and monetary policy … asset price volatility. We show that introducing news shocks in a canonical dynamic stochastic general equilibrium model may … not reduce asset price volatility under plausible parameter assumptions. This is because, in general equilibrium, the …

How does access to credit impact consumption volatility? Theory and evidence from advanced economies suggests that … volatile than income, indicates that financial reform further increases the volatility of consumption relative to output. We … consumption volatility. Calibration of the model for pre and post financial reform in India provides support for the model's key …