the associations of growth level, growth volatility, shocks, institutions, and macroeconomic fundamentals have changed in …, including global growth, global oil prices, and global financial volatility. After accounting for the effects global shocks, we … rate flexibility, education attainment, and lack of political polarization reduce the volatility of economic growth …

decline in real exchange rate volatility, 2) significant changes in cross-country correlations, and 3) the volatility of … domestic shocks less important in accounting for the (unchanged) volatility of macroeconomic fundamentals. -- European business …