choices tend to experience smaller output volatility in the last two decades. Emerging markets with relatively low … international reserves/GDP could experience higher levels of output volatility when they choose a policy combination with a greater … degree of policy divergence. Yet this heightened output volatility effect does not apply to economies with relatively high …

neglected perspective that the vulnerabilities associated with a given public debt/GDP increase with the future volatility of …

production volatility, significantly increases the responsiveness of oil prices to oil shocks. This implies a lower price … volatility. Also the impact of oil shocks on economic activity appears to be significantly stronger in uncertain times. …

Using data from 1980 to 2004, we show that greater fiscal policy volatility acts as a transmission mechanism for the … resource curse. Resource exports dominate political and institutional variables as determinants of fiscal policy volatility …, with fiscal policy volatility being a significant determinant of growth. The existence of a resource curse is confirmed, in …

This paper explores the implications of time varying volatility for optimal monetary policy and the measurement of … to study optimal monetary policy under inflation conditional volatility and find that the quadratic component of the …-2010 underline the statistical significance of inflation-dependent UK macroeconomic volatility. Analysis of the welfare losses …

growth volatility over the period 19501998. We find that a transition from pro-cyclical to countercyclical fiscal policy …