This study presents empirical evidence that volatility persistence and asymmetry are jointly affected by market conditions such as return and volatility. Using 28 equity market indices in developed and emerging countries, we show that daily volatility persistence increases with returns,...

The recent rise in commodity prices and the increase in price volatility have aroused certain concern and controversy among the leaders of the major world powers and international organisations over the possibility that a new food crisis could break out. This paper intends to delve into some...

We look at the effects of rainfall forecasts and realized rainfall on equilibrium agricultural wages over the course of the agricultural production cycle. We show theoretically that a forecast of good weather can lower wages in the planting stage, by lowering ex ante out-migration, and can...