exert a volatility amplifying effect, depending on the currency of denomination and the cyclicality of the borrower … consumption volatility of low- and middle-income countries. On constructing the debt-weighted effective exchange rates, we examine …

We investigate the sources of the great changes in GDP volatility observed from 1966 to 2000. We develop a general …-sectoral linkages and households' behavior to aggregate volatility. Our results show that changes in sectoral volatility played an … important role in shaping volatility at the aggregate level. Moreover, asymmetries in the economic structure sometimes had an …

This paper revisits the well-known VAR evidence on the real effects of uncertainty shocks by Bloom (Econometrica 2009 … study by working with a smooth transition-VAR framework that allows for business cycle-dependent macroeconomic responses to …

, and (iii) employment protection – shape fiscal multipliers and output volatility. Our theoretical model highlights that … more stringent labor market institutions attenuate both fiscal spending multipliers and macroeconomic volatility. This is …

smooth their domestic consumption; however, it can also amplify volatility in consumption, depending on the currency in which … external debt portfolios, exchange rate cyclicality, and volatility in consumption of low- and middle-income countries. Since …