sub-standard economic performance. They are: long-term trends in world commodity prices, volatility, crowding out of …

Poor countries are more volatile than rich countries, and we know this volatility impedes their growth. We also know … that commodity price volatility is a key source of those shocks. This paper explores commodity and manufactures price over … the past three centuries to answer three questions: Has commodity price volatility increased over time? The answer is no …

growth rate and volatility of commodity spot prices. This view gained credence because in the 2000s trading volume increased …

corn, contributing to both higher prices and greater price volatility. But turbulence in recent economic events have caused … ways that are observable in data. Price volatility and "subsidy incidence" also depend on which regime is in place. Simple … differences in variations of corn prices versus energy prices. Apparent price volatility seems due to mechanism switching and to …

We show how technical change, measured as a shift in the GDP function, is combined with net income to track welfare … terms of net product functions: although the relevant income measure is net of depreciation, productivity is measured based … on gross output. We show that net product, net income, net expenditure and productivity change are complements, not …

This paper presents a framework for the quantitative analysis of individual income dynamics, mobility and welfare, with … ex-ante identical individuals facing a stochastic income process and market incompleteness implying that they are unable … to insure against persistent shocks to income. We show how the parameters of the income process can be estimated using …

This paper examines how labor income volatility and social security benefits can influence lifecycle household … annuities, and stocks as well as bonds. Higher labor income uncertainty and lower old-age benefits boost demand for stable … income in retirement, but also when young. In addition, a declining equity glide path with age is appropriate for the worker …

Using Panel Study of Income Dynamics data for 1969 through 2004, we examine movements in men's earnings volatility …. Like many previous studies, we find that earnings volatility is substantially countercyclical. As for secular trends, we … find that men's earnings volatility increased during the 1970s, but did not show a clear trend afterwards until a new …