continue to improve since 1970, except for the financial crisis period. Not only that, it is found that its volatility of … economic growth rate as well as inflation have been reduced gradually. Meanwhile, until recently since 2000, the volatility in …

Korean Abstract: 본 연구는 거시경제적 변동성(macroeconomic volatility)이 국가마다 다르게 나타나는 현상의 원인을 산업구조적 차원에서 실증분석을 통해 찾아보려는 시도이다. 특히 …English Abstract: This study discusses the phenomenon behind various forms of macroeconomic volatility faced by …

economy is expected to contract in the near future, financial markets become more volatile and volatility is greater in … recessions than in expansions. In this paper we estimate common financial market volatility (FMV) implied in each financial … 2-6 months earlier than a peak in business cycles and the probability of a high volatility regime also rises to near 1 …