We study how total factor productivity (TFP), energy prices, and the Great Moderation are linked. First we estimate a … negatively affected productivity. This spillover has since disappeared. Second, we show that within the framework of a dynamic … stochastic general equilibrium model, the disappearance of this energy-productivity spillover generates the significantly lower …

the international fruit and vegetable trade could be diminishing as a result of the increasing prevalence of food quality …

In this paper, we examine the evolution of the S&P500 returns volatility around market crashes using a Markov …-Switching model. We find that volatility typically switches into the high volatility state well before a crash and remains in the high … volatility by uniformed traders result in a crash. …

autoregression, we derive return and volatility spillover indices over the rolling sub-sample windows. We show that there is … substantial difference between the behavior of the East Asian return and volatility spillover indices over time. While the return … spillover index reveals increased integration among the East Asian equity markets, the volatility spillover index experiences …

This paper offers empirical evidence that real exchange rate volatility can have a signi.cant impact on the long …-term rate of productivity growth, but the effect depends critically on a country's level of financial development. For countries … with relatively low levels of financial development, exchange rate volatility generally reduces growth, whereas for …

This paper estimates the impact of financial development on industry-level total factor productivity (TFP) growth using …