, the role of biofuels in determining recent high corn and other agricultural commodity prices, as well as their volatility … corn, contributing to both higher prices and greater price volatility. But turbulence in recent economic events have caused … the mechanisms through which biofuels demands influence corn and other agricultural commodity prices to vary over time in …

A salient trend in crisis intervention has emerged in recent decades: Government and central banks offered funding … survive crises than those with low productivity. The government funding support saves more firms but cannot be customized …

If commercial producers or financial investors use futures contracts to hedge against commodity price risk, the … structure to commodity futures prices, and develop new algorithms for estimation of such models using unbalanced data sets in …

We conduct a comprehensive analysis of unspanned stochastic volatility in commodity markets in general and the crude …-oil market in particular. We present model-free results that strongly suggest the presence of unspanned stochastic volatility in … the crude-oil market. We then develop a tractable model for pricing commodity derivatives in the presence of unspanned …

size of this political distortion. In this paper we study the determination of government debt and deficits in a dynamic … model of debt which characterizes political distortions. We find that in our model the conventional wisdom always applies in … the long run, but only does so in the short run when economic volatility is low. Instead, when economic volatility is high …

This paper investigates whether the religious identity of state legislators in India influences development outcomes …

.S. equities during the Great Depression. Both show increasing market volatility and a prolonged large co-movement in equity prices …. What is unique about the Japanese case is the surprising fall in firm-level volatility and turnover in Japanese stocks … after its market crash in 1990. This large decrease in firm-level volatility may have impeded Japan's capital formation …

increase volatility in order to exploit the implicit protection. However, if they increase volatility too much they may induce … that it allows high volatility choices, while net worth is high. However, risk limits tighten abruptly when the firm's net … worth declines below an endogenously determined threshold. Hence, the model reproduces the qualitative features of existing …

question, focusing on liquidity constraints and uninsurable idiosyncratic risk. We consider a search model where agents use … reserves and the response of the economy tends to be larger. In this case, agents expect to be liquidity constrained and, due …