periods. Fast transport thus provides firms with a real option to smooth demand volatility. The model predicts that the … likelihood and extent to which firms employ air shipments is increasing in the volatility of demand they face, decreasing in the …

Data show that better creditor protection is correlated across countries with lower average stock market volatility …

period. The cost of achieving this certainty on emission limits is price volatility. I discuss and evaluate various … approaches within cap and trade systems to reduce price volatility. A fundamental trade-off exists between certainty of emission … limits and price volatility. A pure carbon tax sacrifices certainty of emission limits in favor of price stability. I discuss …

Less developed countries tend to experience higher output volatility, a fact that is, in part, explained by their … characterized by higher levels of output volatility. We provide novel empirical evidence that less complex industries are indeed …

This paper analyzes non-fundamental volatility and efficiency in a class of large games (including e.g. linear … guarantee zero non-fundamental volatility in equilibrium, and provide another set of necessary and sufficient conditions to … rational inattention literature, both precludes non-fundamental volatility and imposes efficiency, whereas the Fisher …

, modern economists argue that volatility reduces growth in the poor periphery. This paper assess these de …-industrialization and volatility forces between 1782 and 1913 during the Great Divergence. First, it argues that the new economic order had …-reducing terms of trade volatility was the other. Between 1820 and 1870, terms of trade volatility was much greater in the poor …

durable goods are traded across countries. Our model can match the business cycle statistics on the volatility and comovement …

theoretically that volatility in fundamental variables such as the nominal interest rate that drive exchange rate volatility can … investment on exchange rate volatility. It is the first paper to provide empirical evidence that interest rate volatility may …

with volatility …