This paper exploits two unique features of China's history to study the effects of access to internal migration … volatility for rural households. Furthermore, household production shifts into high-risk, high-return activities …

We aim to make two contributions to the literature on the effects of transaction costs on financial price volatility … in the Chinese market, on average, between stamp duty increase and price volatility. However, this average effect masks …

rural incomes in China. Current literature based on analyses of rural income volatility in China decomposes poverty into … increase from around 1.8 in the late 1980's to over 3 today. These estimates do not take into account the higher volatility of … rural income volatility. Here we use a direct method instead to adjust rural income for volatility using a certainty …

interpret. We propose a new approach to modeling bond risk and risk premia. For each of the US and China, we reduce the … the joint dynamics of its volatility and Sharpe ratio as functions of yield curve variables, and of VIX in the US. We have … volatility is as important as time variation in bond Sharpe ratios. (3) Bond risk premia are solely compensation for bond risk …

) idiosyncratic R&D innovations and (ii) general innovations that can be freely adopted by many firms. Firm-level volatility is … increase in firm-level volatility, and a decline in aggregate volatility. The effect on productivity growth is ambiguous. On … volatility is positively associated with R&D spending, and that R&D is negatively associated with the correlation of growth …

Sudden Stops are associated with increased volatility in relative prices. We introduce a model based on information … acquisition to rationalize this increased volatility. An empirical analysis of the conditional variance of the wholesale price to … key determinants of relative-price volatility, where balance-sheet effects are captured by the interaction of a proxy for …