This study examines the effects of terms of trade and its volatility on economic growth for a sample of 94 developed … estimation results indicate significant positive effect of terms of trade on economic growth. Furthermore, volatility of terms of … has been performed using different additional variables, sample size and various proxies of volatility variable. The …

lesser extent their size, are the main cause of clustered volatility. Under this view bursts of rapid or slow price diffusion … reflect bursts of frequent or less frequent trading, which cause both clustered volatility and heavy tails in price returns … small fraction of volatility fluctuations are explained in this manner. Clustered volatility is still very strong even if …