interpret. We propose a new approach to modeling bond risk and risk premia. For each of the US and China, we reduce the … the joint dynamics of its volatility and Sharpe ratio as functions of yield curve variables, and of VIX in the US. We have … volatility is as important as time variation in bond Sharpe ratios. (3) Bond risk premia are solely compensation for bond risk …

rural incomes in China. Current literature based on analyses of rural income volatility in China decomposes poverty into … increase from around 1.8 in the late 1980's to over 3 today. These estimates do not take into account the higher volatility of … rural income volatility. Here we use a direct method instead to adjust rural income for volatility using a certainty …

This paper exploits two unique features of China's history to study the effects of access to internal migration … volatility for rural households. Furthermore, household production shifts into high-risk, high-return activities …

of volatility through time. We are particularly interested in understanding whether periods of high volatility spillover … across countries. Our analysis relies both on univariate and bivariate switching volatility models. Our results indicate that … high-volatility episodes are, in general, short-lived, lasting from two to seven weeks. We find some weak evidence of …

efforts, several structural sources of volatility remain, and new ones have emerged as a result of the new and otherwise …

This paper uses a disaggregated approach to study the volatility of common stocks at the market, industry, and firm … levels. Over the period 1962-97 there has been a noticeable increase in firm-level volatility relative to market volatility …, while the number of stocks needed to achieve a given level of diversification has increased. All the volatility measures …