A gravity model is used to assess the separate effects of exchange rate volatility and currency unions on international … trade. The panel data set used includes bilateral observations for five years spanning 1970 through 1990 for 186 countries … same currency. I find a large positive effect of a currency union on international trade, and a small negative effect of …

This paper shows that proximity to major international financial centers seems to reduce business cycle volatility. In … experience more volatile growth rates in both output and consumption, even after accounting for political institutions, trade …

The monthly volatility of IPO initial returns is substantial, fluctuates dramatically over time, and is considerably … larger during "hot" IPO markets. Consistent with IPO theory, the volatility of initial returns is higher among firms whose …

dampening effect on trade volatility …I examine the hypothesis that membership in the World Trade Organization (WTO) and its predecessor the General … Agreement on Tariffs and Trade (GATT) has increased the stability and predictability of trade flows. I use a large data set …

The recent volatility of stock prices has caused many people to conclude that investors have become irrational in … valuing at least some stocks. This paper investigates the behavior of the volatility of stocks on the Nasdaq, which tend to be … portfolio. It also analyzes the relation of the unusual Nasdaq volatility to the hot IPO market in 1998 and 1999. The factor …

Stock volatility has been unusually low since the 1987 stock market crash. The large increase in stock prices since … though the volatility of stock returns has not been high by historical standards. I compare volatility of returns to U ….S. stock indexes at monthly, daily, and intraday intervals, and I also show the volatility of returns to stock indexes implied …

This paper addresses the issue of whether regimes of fixed exchange rates are a mechanism for shifting volatility inter … devaluations reveals little evidence of significant increases in volatility following these events …

Fixed exchange rates are less volatile than floating rates. But the volatility of macroeconomic variables such as money … exchange rate volatility and macroeconomic stability …

This paper shows that stock volatility increases during recessions and financial crises from 1834-1987. The evidence … stock volatility, I show that volatility increases after major financial crises. Moreover. stock volatility decreases and … can control stock volatility. The evidence supports the observation by Black [1976] that stock volatility increases after …

This paper compares several statistical models for monthly stock return volatility. The focus is on U.S. data from 1834 … volatility that are inconsistent with stationary models for conditional heteroskedasticity, We show the importance of … of stock volatility, even over the 1834-1925 period …