results for the most recent period suggest that a uniform shock to output volatility in the world economy roughly … question whether the world has become smaller in terms of economic distance. Instead of focussing on the transmission of single …-country interdependence of output volatility has evolved over the period 1955 to 2006. From a methodological perspective, we adopt a spatial …

. News volume and volatility amplify this attention gap. Attention appears causally related to perceived proximity: first … fewer flights after the outbreak. Finally, local attention predicts volatility, bid-ask spreads and nonlocal attention, not …