tariffs. Since the eruption of the debt crisis, many proposals for structural reforms in the developing countries have …

, The analysis focuses on the effects of an economic liberalization program that reduces import tariffs on the equilibrium …

an increase in the level and volatility of spot prices. We construct a large panel data set which includes commodities … positively correlated with open interest and not correlated with net financial flows. The facts on spot and futures prices and …

volatility through time. We are particularly interested in understanding whether periods of high volatility are correlated across … countries. The analysis uses both on univariate and bivariate switching volatility models. Our results do not rely on the … correlation coefficients, but on the co-dependence of volatility regimes. The results indicate that high-volatility episodes are …

whether dollarized countries have historically exhibited faster growth and lower volatility than countries with a domestic … statistically different in dollarized and in non-dollarized ones. We also find that volatility has been significantly higher in …

role for credit growth (beyond its role in constructing the inflation forecast) would reduce the volatility of output and … asset prices …

Current debates on globalization have tended to focus on financial market volatility and contagion. In fact, many … whether there has been volatility contagion from Mexico to the two South American nations. The results obtained from the … estimation of augmented GARCH equations indicate, quite strongly, that while there has been volatility contagion from Mexico to …

of volatility through time. We are particularly interested in understanding whether periods of high volatility spillover … across countries. Our analysis relies both on univariate and bivariate switching volatility models. Our results indicate that … high-volatility episodes are, in general, short-lived, lasting from two to seven weeks. We find some weak evidence of …