micro-based banking production, enables a contrasting characterization of the two great volatility cycles over the … historical period of 1919-2004, and enables this puzzle to be addressed more easily. The volatility divergence is explained by … the upswing in the credit volatility that kept money supply variability from translating into inflation and GDP volatility. …

A gravity model is used to assess the separate effects of exchange rate volatility and currency unions on international … exchange rate volatility, even after controlling for a host of features, including the endogenous nature of the exchange rate …

We discuss sources of volatility and vulnerability in the CEECs during the transition and leading up to EU accession …. The Paper emphasizes the role of the transition shock as a source of extreme volatility on a much larger scale than the … contraction. Pro-cyclical fiscal policy and institutional uncertainties amplified output volatility. Many factors will contribute …

of noise traders alters the composition of the market and generates excess exchange rate volatility, since noise traders … both create and share the risk associated with exchange rate volatility. In such circumstances, monetary policy can be used … to lower exchange rate volatility without altering macroeconomic fundamentals. …

What is the relationship between economic growth and its volatility? Does political instability affect growth directly … or indirectly, through volatility? This paper tries to answer such questions using a power-ARCH framework with annual … legislative changes) has an indirect (through volatility) negative impact. We also find preliminary support for the idea that …

towards the end of the week, Thursday and then Friday. The lower patterns are more apparent in both cases. Volatility is the … highest on Mondays in both local and dollar returns. Local returns have the lowest volatility towards the end of the week …, Thursday and Friday, whereas the lowest volatility of dollar returns are observed on Tuesdays. The results have useful …

component into decisions. This component is affected by the degree of volatility of underlying assets, which in turn can derive … their volatility from the economy as a whole, affecting the investment process and therefore the accumulation of capital and … future growth. In the same tense, the evidence of volatility in the returns of the underlying assets of the economy affects …

(USA, Japan, United Kingdom, Germany and France) in terms of return and volatility. We find that conditional … heteroskedasticity is present in every market and also that conditional volatility responds asymmetrically to past shocks. In order to … the strongest influence on the Swiss market in terms of returns and volatility. Links with other markets in terms of …