including stochastic volatility models. A robust hedging strategy avoids any losses as long as the realised volatility stays …

output volatility and its link with government size. Two separate strands of the literature are surveyed: cross …-section studies confirm that countries with large governments tend to enjoy less output volatility, but also that there may be a … show, however, that the country has recently experienced an important reduction in output volatility, despite probably …

comparing the short-term (i.e. month-to-month) volatility of New Zealand's exchange rate to other economies, on a trade …-term volatility out of the economies included in the analysis. Factors that affect the expected relative return on New Zealand dollar … Zealand and other countries, relative growth performance and attitudes to risk. More fundamental drivers such as export …