This paper attempts a re-examination of the relationship between the output volatility and economic growth using an … integrated (HFI) and low financially integrated (LFI) country groups. Overall, the results indicate that output volatility as a … proxy of macroeconomic volatility has negative effect on economic growth. The results appear to be stronger when we include …

Empirical studies showed that firm-level volatility has been increasing but the aggregate volatility has been … financial development leads to a larger firm-level volatility but a lower aggregate volatility. In addition, our model is also … consistent with the observed decline in volatility of private held firms which do not have (or have only limited) access to …

Commodity price volatility is bad for macroeconomic performance. Virtually all empirical studies that document this … extraction to determine why commodity price volatility affects investment decisions, production levels, profitability, and … effects. Simulation exercises reveal that commodity price volatility shocks significantly reduce resource firms' equity prices …