of absolute log returns, which is a typical measure of volatility, for each period. We find that (i) the tail of the …

We propose to measure growth opportunities by firms' exposure to idiosyncratic volatility news. Theoretically, we show … that the value of a growth option increases in idiosyncratic volatility but its response to volatility of aggregate shocks … in idiosyncratic volatility carries significant information about firms' future investment and growth even after …

The literature on the finance-growth nexus highlights the importance of the financial cycle for the estimation of …

This paper discusses the link between financial development and macroeconomic volatility by exploring some of the ways … development exerts an unambiguous effect on macroeconomic volatility. Building on theoretical work related to two different … market volatility is controlled for. …

A body of evidence accumulated over the past several years, via different methods and estimation techniques, using firm … of Moments (GMM) estimation technique, show that finance is likely to matter for growth in the small, open Pacific Island … from shortcomings of different methods and estimation techniques, and have important policy implications for the Pacific …

The literature on the finance-growth nexus highlights the importance of the financial cycle for the estimation of …