The many and varied crises in the world economy since 2007 seem to have different origins and diverse manifestations …

percent). Since the impact of convergence on the supply side is much more muted, convergence puts upward pressure on world … food prices, partially offsetting a baseline trend toward falling world food prices to 2050 …

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 …

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 …

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 …

This paper addresses the mechanisms by which trade openness affects growth volatility. Using a diverse set of export … effect of trade openness on growth volatility. The authors also identify positive thresholds for product diversification at … which the effect of openness on volatility changes sign. The effect is shown to be positive only for a minority of countries …

equilibrium fictions. In the framework of this paper, technology, contacts with the outside world, and changes in power and wealth …