This paper revisits the relation between growth and volatility in disaggregated data. Across countries, the link is … has a natural interpretation. The macroeconomic component of aggregate volatility, common across sectors, correlates … negatively with growth, whereas sector-specific volatility correlates positively with growth, as if risky investments commanded …

A widely held view is that openness to international trade leads to higher GDP volatility, as trade increases … important, openness to international trade can lower GDP volatility by reducing exposure to domestic shocks and allowing … question of whether and how international trade affects economic volatility …

A widely held view is that openness to international trade leads to higher GDP volatility, as trade increases … important, openness to international trade can lower GDP volatility by reducing exposure to domestic shocks and allowing … question of whether and how international trade affects economic volatility …