For individual countries, variable trade barriers can be used to reduce the volatility of domestic relative to world … prices. If this is done by countries accounting for a large share of the market, its effect is offset by increases in world … price volatility. This study shows the nature of the resulting collective action problem, with the policy being ineffective …

measures, the financial globalization index corrects for the heteroscedasticity of global volatility. This leads to a downward … globalization reduces market volatility (measured by the volatility of stock returns) in tranquil times, and increases it in … turbulent ones. On average, the first effect dominates, so that financial globalization leads to a decrease in market volatility …

relation to the rest of the world, this paper analyzes the cost and welfare implications of this policy and unpacks the …

countries to assess the impacts of changes in global food prices on poverty in individual countries and for the world as a whole …

results support the conclusion from earlier studies that there is a need for stronger World Trade Organization disciplines on …

This paper examines how the ability to access long-term debt affects firm-level growth volatility. The analysis finds … growth volatility in countries with better-developed financial systems, as these firms may benefit from reduced refinancing … risk and therefore growth volatility associated with short-term financing. Increased availability of long-term finance …

Previous sharp oil price declines have been accompanied by elevated ex post volatility. In contrast, volatility was … price declines. This finding is robust to nonparametric and GARCH measures of volatility. Further, the U.S. dollar … appreciation exerted a strong influence on volatility during the recent crash; in contrast, the impact of shocks on equity markets …

This paper investigates the adverse effects of oil price volatility on economic activity and the extent to which … countries can hedge against such effects by using renewable energy. By considering the Realized Volatility of oil prices, rather …, and variance decompositions show that oil price volatility has more-adverse effects in all sample countries than oil price …