the associations of growth level, growth volatility, shocks, institutions, and macroeconomic fundamentals have changed in … growth, global oil prices, and global financial volatility. After accounting for the effects global shocks, we find that … attainment, and lack of political polarization reduce the volatility of economic growth. Countries cope with shocks better in the …

This paper links business cycle volatility to barriers on international mobility of goods and capital. Theory predicts … that capital market integration should lower consumption volatility while raising investment volatility, if most shocks are … volatility. We test these ideas using a unique panel data set which includes indicators of barriers to trade in both goods and …

We develop a novel measure of volatility pass-through to assess international propagation of output volatility shocks … to macroeconomic aggregates, equity prices, and currencies. An increase in country's output volatility is associated with … output volatility increases consumption volatility by 0.5%) and it increases to 70% for shocks originating in smaller …

The volatility of economic activity in most G7 economies has moderated over the past forty years. Also, despite large … the exception of Japan, the widespread reduction in volatility is in large part associated with a reduction in the …