macroeconomic consequences of this additional volatility on economic growth, finding that, over a 30-year period, it can explain 8 …This paper studies the volatility of fiscal policy in a large sample of countries with a focus on emerging markets and … percentage of the cross-country variation in volatility. The existence of fiscal rules, a more liberalized capital account, and …

macroeconomic consequences of this additional volatility on economic growth, finding that, over a 30-year period, it can explain 8 …This paper studies the volatility of fiscal policy in a large sample of countries with a focus on emerging markets and … percentage of the cross-country variation in volatility. The existence of fiscal rules, a more liberalized capital account, and …

results for the most recent period suggest that a uniform shock to output volatility in the world economy roughly … question whether the world has become smaller in terms of economic distance. Instead of focussing on the transmission of single …-country interdependence of output volatility has evolved over the period 1955 to 2006. From a methodological perspective, we adopt a spatial …