We study the pattern of volatility of gross issuance in international capital markets since 1980. We find several short …-lived episodes of high volatility. Over the long run, however, volatility has declined, suggesting that international financial …-varying pattern of volatility, focusing in particular on the role of financial centers. Our results suggest that a significant portion …

We study the pattern of volatility of gross issuance in international capital markets since 1980. We find several short …-lived episodes of high volatility. Over the long run, however, volatility has declined, suggesting that international financial …-varying pattern of volatility, focusing in particular on the role of financial centers. Our results suggest that a significant portion …

In the last thirty years, volatility modeling in financial time series has drawn considerable attention in the … literature of financial econometrics. The workhorse model of volatility has been the ARCH model and its generalized counterparts … in that period. Although these models have proven to be useful in capturing some stylized facts of volatility in …