than 40 percent of the volatility of aggregate sales. Although quite large, this contribution is smaller than documented in … previous studies based on advanced economies, despite a higher degree of market concentration in Chile.We show that this …

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 …

year window before risk-off shocks experienced relatively lower external finance premia and exchange rate volatility during … the shock compared to countries which did not have such preemptive policies in place. We use the episodes of Taper Tantrum … effects where preemptive policies are ex-ante by construction and cannot be put in place as a response to the shock ex …

an economy that faces trade shocks, business cycle volatility reduces. For an economy with limited financial openness …

We study the cyclical properties of sales, regular price changes and average prices paid by consumers (""effective …. Both the frequency and size of sales fall when local unemployment rates rise and yet the inflation rate for effective …