into different components. We find that the firm-specific component contributes substantially to aggregate sales volatility … heterogeneous firms selling to multiple markets to motivate a theoretically-founded decomposition of firms' annual sales growth rate …

This paper shows how changes in the volatility of the real interest rate at which small open emerging economies borrow … motivate our investigation, we document the strong evidence of time-varying volatility in the real interest rates faced by a … sample of four emerging small open economies: Argentina, Ecuador, Venezuela, and Brazil. We postulate a stochastic volatility …

year window before risk-off shocks experienced relatively lower external finance premia and exchange rate volatility during … the shock compared to countries which did not have such pre-emptive policies in place. We use the episodes of Taper … fixed effects where preemptive policies are ex-ante by construction and cannot be put in place as a response to the shock ex …

the total trade balance. Furthermore, they generate excess volatility of consumption over output and a large volatility of …

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 …