There are many studies addressing the role of the economic policy versus the role of institutions in growth. However, few of these studies have addressed the role of the second moments of the policy instead of the policy itself in affecting growth. In this study, the role of inflation volatility...

Using a micro-foundation based monetary Small Open Economy (SOE) model of McCandless (2008) with a cash-in-advance constraint, a capital adjustment cost, foreign bonds, and a trade sector, the study quantifies the welfare implications under two policy scenarios: (a) a reduction in inflation...

here are many studies addressing the role of the economic policy versus the role of institutions in growth. However, few of these studies have addressed the role of the second moments of the policy instead of the policy itself in affecting growth. In this study, the role of inflation volatility...

This study analyzes the impact of reducing inflation volatility and the impact of enhancing financial institutions on economic welfare. First, an empirical analysis of the impact of inflation, inflation volatility, and financial institutions on a country’s sovereign debt rating is undertaken....

This study analyzes the impact of reducing inflation volatility versus the impact of improving financial institutions with regard to the country’s sovereign debt rating. An empirical analysis of the impact of inflation, inflation volatility and financial institutions on a country’s sovereign...

The study analyzes the effect of inflation volatility on growth in the presence of different degrees of institutional development. A nonlinear growth regression specification using a system Generalized Method of Moments (GMM) procedure on a sample of 37 countries over the period 1989–2006 is...

In this note we document interactive relations between the excess volatility and the momentum effect in the cross-section of stock returns over the sample periods of 1963-1989, 1990-2010 and 1963-2010, along the line explored lately in Wang and Ma (2014). The nature of interactive relations...