This paper examines the effect of stabilization funds on the volatility of government expenditure in resource … stabilization funds contributes to smoothing government expenditure. The spending volatility in countries that have established such … analysis also shows that political institutions and fiscal rules are significant factors in reducing the expenditure volatility …

In this paper we assess the implications of precautionary savings for global imbalances by considering a world economy … assumed to differ only with respect to GDP volatility which is calibrated based on the 1980-2008 period. The model predicts a … asset holdings. While heterogeneity in GDP volatility may lead to large imbalances in international investment positions …

This paper establishes that output volatility and the size of output drops have declined across all countries over the …. The favorable trends in output volatility and large output drops in developing countries are found to result from lower … country-specific volatility and more benign country-specific events. Evidence from cross-section regressions over the 1970 …

: its volatility and Dutch disease. We present evidence that aid volatility augments trade balance volatility and that …

the resource windfall on consumption and investment creates more volatility and amplifies Dutch disease effects, when …