This paper establishes that output volatility and the size of output drops have declined across all countries over the …. The favorable trends in output volatility and large output drops in developing countries are found to result from lower … country-specific volatility and more benign country-specific events. Evidence from cross-section regressions over the 1970 …

This paper studies the volatility of fiscal policy in a large sample of countries with a focus on emerging markets and … percentage of the cross-country variation in volatility. The existence of fiscal rules, a more liberalized capital account, and … more flexible exchange rates are all associated with lower fiscal policy volatility. The paper also shows the negative …