reduce macroeconomic volatility. The econometric estimation results from a 30-year panel data set of 15 countries with and … without oil funds suggest that oil funds are associated with reduced volatility of broad money and prices and lower inflation …. However, there is a statistically weak negative association between the presence of an oil fund and volatility of the real …

portfolio theory without recourse to market imperfections. It also demonstrates that “Value-at-Risk” portfolio management rules …

The World Economic Outlook (WEO) exercise at the IMF evolved during the 1980s, partly in response to demands by … important element in their efforts to keep abreast of world economic developments and prospects. Direct and indirect feedback …

In this paper we assess the implications of precautionary savings for global imbalances by considering a world economy … model composed by the US, the Euro Area, Japan, China, oil-exporting countries, and the rest of the world. These areas are … assumed to differ only with respect to GDP volatility which is calibrated based on the 1980-2008 period. The model predicts a …

This paper examines the effects of trade costs on macroeconomic volatility. We first construct a dynamic, two … variability of the trade balance should increase. Trade costs have ambiguous effects on the volatility of other macro variables …

This paper examines the impact of international financial integration on macroeconomic volatility in a large group of … industrial and developing economies over the period 1960-99. We report two major results: First, while the volatility of output … volatility of consumption growth relative to that of income growth has increased for more financially integrated developing …