Bayesian model averaging is applied to robustly ascertain the determinants of various output volatility measures … different effects on volatility. The ratio of govern- ment expenditure to GDP exhibited a significant positive relationship with … volatility and the trade share of GDP was positively related for a balanced dataset of developed and developing countries between …

. The paper deals with robust estimation of the cyclical component for the seasonally adjusted time series. This is achieved … illustrate that the Gaussian mixture model provides a satisfactory representation of the data, allowing for the robust estimation …

), technology (growth rate and volatility), and/or nominal price rigidities. In the models, agents are assumed to know deep … estimation method that takes these probabilistic inferences into account when relating state variables to observed data. In an … results indicate that, even though a passive policy regime produced more volatility in the economy from the early 1970s to the …

of bankruptcies. In this framework, we find that stock market volatility may damage the real economy if the stock market … is too relevant. In particular, an increase of volatility worsens the economic performance through the stock market …