Accounting for Consumption Volatility Differences

Holger Wolf
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Holger Wolf: International Monetary Fund

IMF Staff Papers, 2004, vol. 51, issue s1, 109-125

Abstract: In the wake of emerging market turmoil, the role and welfare consequences of volatility have attracted renewed attention. An emerging consensus points to various types of volatility being both a consequence and a determinant of longerterm growth performance. The linkages appear to be context dependent. This paper employs classification tree analysis to explore determinants of consumption volatility taking account of context dependence. The results suggest output volatility, measures of input volatility, and measures of economic development are best able to differentiate between countries with high and low consumption volatility.

JEL-codes: E21 E32 (search for similar items in EconPapers)
Date: 2004
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