Macroeconomic Volatility and Welfare in Developing Countries: An Introduction
概述了发展中国家宏观经济波动的原因、后果及应对措施，指出波动源于外部冲击、政策不稳定、微观僵化和制度薄弱，并直接或间接损害福利，适合关注发展问题的学者快速了解该领域文献。
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.