volatility. Using monthly data of the industrial production indices in the five economies and applying the ARCH/GARCH models to … generate a measure of output volatility to conduct the two-step approach, the results show that output volatility positively … it will not alter the volatility and growth relationship …

: (i) monetary volatility negatively affects long-run growth; (ii) the relation between nominal volatility and growth … increases the negative effect of nominal volatility on mean growth. …

This paper examines the relationship between output volatility and growth using regional data from South Korea over the … period 1985-2003. The estimation is conducted using volatility that varies across regions as well as across time. The … findings indicate that provinces with higher volatility have lower growth, but this is largely due to common shocks across …