This paper shows that proximity to major international financial centers seems to reduce business cycle volatility. In …

volatility literature, namely its relative neglect of the connection between macroeconomic fundamentals and asset return … volatility. We progress by analyzing a broad international cross section of stock markets covering approximately forty countries …

volatility and growth. We first develop a simple growth model where firms engage in two types of investment: a short-term one and …, thus mitigating volatility. But when firms face tight credit constraints, long-term investment turns procyclical, thus … amplifying volatility. Tighter credit therefore leads to both higher aggregate volatility and lower mean growth for a given total …

This overview introduces and summarizes the findings of a practical volume on managing volatility and crises. The … volatility leading to large output and economic growth costs, especially in poor countries. In these circumstances, good times do … cope with volatility also drive crises. Hence, the volume also focuses on the prevention and management of crises. It is a …

volatility of economic fluctuations. In a sample of 92 countries as well as a sample of OECD countries, we find that countries … with higher volatility have lower growth. The addition of standard control variables strengthens the negative relationship …. We also find that government spending-induced volatility is negatively associated with growth even after controlling for …

Does macroeconomic volatility/uncertainty affects accumulation of net foreign assets? In OECD economies over the period … 1970-2012, changes in country specific aggregate volatility are, after controlling for a wide array of factors …, significantly positively associated with net foreign asset position. An increase in volatility (measured as the standard deviation …

In a sample of 110 countries over the period 1960-2009, we document a positive relation between the volatility and … with recent theories of financial frictions. The positive relation between volatility and skewness in the cross-section is …

evidence for changes in persistence and in volatility of price across three well defined periods. We argue that historically … account for the increased volatility of oil price we observe in these periods …