percentage point increase in the middle-aged share of the population decreases output volatility by 15 percent for the average …

factor are typically small, with the annualized unconditional volatility estimated at 0.06%, but highly persistent, with … estimated persistence at 0.98. Evidence of time variation in the volatility of the global factor is overwhelming as there are … times in which volatility could be several times larger than its unconditional level (about ten times in the aftermath of …

In a sample of 110 countries over the period 1960-2009, we document a positive relation between the volatility and … volatility and skewness in panel data with country fixed effects in the top quartile of countries in terms of beginning …

preceding the outbreak of the financial crisis in August 2007, caused a relatively low output volatility in other national … economies. The results of the time series analysis of 97 developed and developing countries suggest that low output volatility … in the United States is not likely to be the main source of low output volatility across the world in this period …