volatility. Empirical evidence indicates that a risky currency is associated with a relatively high interest rate. Taken together …, these two statements associate high-interest-rate currencies with low pricing kernel volatility. We document evidence … identification strategy revolves around using interest rate volatility differentials to make inferences about pricing kernel …

volatility. Empirical evidence implies that a risky currency is associated with a relatively high interest rate. Taken together …, these two statements associate high-interest-rate currencies with low pricing kernel volatility. We document evidence … suggesting that the opposite is true. We approximate the volatility of the pricing kernel with the volatility of the short …

employees in multinational companies were confronted with an increased volatility of their jobs. Using a unique firm … deutschem Eigentum während der Rezession eine stabilisierende Rolle für den tschechischen Arbeitsmarkt einnahmen. …

, and (iii) employment protection - shape fiscal multipliers and output volatility. Our theoretical model highlights that … more stringent labor market institutions attenuate both fiscal spending multipliers and macroeconomic volatility. This is …