, resulting in a bifurcation of the equilibrium. Market resilience declines under higher volatility, including a potential market … freeze. A change in the volatility of reserve flows, which is more likely when central banks tighten monetary policy, may …

-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 … allow us to incorporate into the analysis the relevance of spatial effects in the processes of regional growth in Europe … business cycle and regional growth, which is mainly consequence of the spatial spillovers induced by the incidence of …

Cholesky multivariate stochastic volatility model. It establishes that systematically different dynamic restrictions are … divergent when volatility clusters idiosyncratically. It is illustrated that this property is important for empirical … multivariate stochastic volatility model is proposed as a robust alternative. …