terms. Then the efficacy of monetary policy is explicitly affected by the expected return and the volatility of the series …

This paper focuses on the impact of full capital account liberalization on macroeconomic volatility in Greece … reduce macroeconomic volatility. The link between macroeconomic volatility and capital account openness in the Greek economy …. There is no strong evidence for a stable relation between macroeconomic volatility and variables of financial openness. Thus …

volatility. Our results show that floating rates tend to present higher levels of growth and lower levels of volatility in … bottom of the growth rankings, while hard pegs appear to induce the largest growth volatility. In light of these results, it …