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- W3121527629 abstract "Macroeconomic volatility, both a source and a reflection of underdevelopment, is a fundamental concern for developing countries. Their high aggregate instability results from a combination of large external shocks, volatile macroeconomic policies, microeconomic rigidities, and weak institutions. Volatility entails a direct welfare cost for risk-averse individuals, as well as an indirect one through its adverse effect on income growth and development. This article provides a brief overview of the recent literature on macroeconomic volatility in developing countries, highlighting its causes, consequences, and possible remedies. It then introduces the contributions of a recent conference on the subject, sponsored by the World Bank and Pompeu Fabra University, Barcelona." @default.
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- W3121527629 date "2007-01-01" @default.
- W3121527629 modified "2023-10-06" @default.
- W3121527629 title "Macroeconomic Volatility and Welfare in Developing Countries: An Introduction" @default.
- W3121527629 hasPublicationYear "2007" @default.
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