-country interdependence of output volatility has evolved over the period 1955 to 2006. From a methodological perspective, we adopt a spatial … econometric approach, relating a country's output volatility to (distance weighted averages of) other countries' output volatility … results for the most recent period suggest that a uniform shock to output volatility in the world economy roughly …

This paper investigates the relationship between volatility and economic growth in the European regions over the period … volatility in neighbouring regions. This finding is robust to the inclusion in the analysis of different explanatory variables …, the results of the paper do not depend on the specific measure of volatility used, or the spatial weights matrix employed …