, indicate that commonly used linear interpolation has the opposite effect on shock persistence and volatility of a series …-it increases shock persistence and reduces volatility. The surprising implication of this finding is that the actual differences … between the volatility and shock persistence of the prewar and postwar output series are likely greater than the existing …

The authors extend the recent literature on the link between financial development and economic volatility by focusing … on the channels through which the development of financial intermediaries affects economic volatility. Their theoretical … model predicts that well-developed financial intermediaries dampen the effect of real sector shocks on the volatility of …

to have dealt with the volatility better. Why? This paper explores Australian terms of trade volatility since 1901. It … identifies two major price shock episodes before the recent mining-led boom and bust. It assesses their relative magnitude, their …

We provide new empirical evidence that U.S. expected growth and consumption volatility are closely related to the …

the associations of growth level, growth volatility, shocks, institutions, and macroeconomic fundamentals have changed in … growth, global oil prices, and global financial volatility. After accounting for the effects global shocks, we find that … attainment, and lack of political polarization reduce the volatility of economic growth. Countries cope with shocks better in the …