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 …

the postwar period. To this end, we propose the estimation of DSGE models allowing for time variation in the volatility of …In this paper we investigate the sources of the important shifts in the volatility of U.S. macroeconomic variables in … the structural innovations. We apply our estimation strategy to a large-scale model of the business cycle and find that …

suffered most increases in output volatility as a result …

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 …

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 …