volatility depends on the nature of the underlying shock. Empirical evidence supports this conclusion. Our results also show that … the link between business cycle volatility and financial openness has not been stable over time. …

volatility depends on the nature of the underlying shock. Empirical evidence supports this conclusion. Our results also show that … the link between business cycle volatility and financial openness has not been stable over time. …

for the years 1970 - 2004, we document how the volatility of hours worked and of wages of workers at different skill … volatility of employment, and this effect is strongest for low-skilled workers. A higher share of low-skilled employment has a … dampening impact. -- labor-market volatility ; skill levels ; financial globalization …