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 …

.g., cabinet changes) has an indirect (through volatility) impact on growth; (iii) the effect of financial development is positive … and, surprisingly, not via volatility; (iv) the informal instability effects are much larger in the short- than in the …

to an end. This paper offers evidence that the decrease in output volatility still remains in force despite the GR and …

The estimation of large Vector Autoregressions with stochastic volatility using standard methods is computationally … prior on a common stochastic volatility factor, we derive the posterior densities for the parameters of the resulting BVAR … with common stochastic volatility (BVAR-CSV). Under the chosen prior the conditional posterior of the VAR coefficients …

We consider estimating volatility risk factors using large panels of filtered or realized volatilities. The data … structure involves three types of asymptotic expansions. There is the cross-section of volatility estimates at each point in … h of the data used to compute the volatility estimates which rely on data collected at increasing frequency, h ? 0: The …