The DOI matches its Crossref record; 1 of the 1 references it cites were found in a registry or an index.
Risk Matters: The Real Effects of Volatility Shocks
Abstract
We show how changes in the volatility of the real interest rate at which small open emerging economies borrow have an important effect on variables like output, consumption, investment, and hours. We start by documenting the strong evidence of time-varying volatility in the real interest rates faced by four emerging economies: Argentina, Brazil, Ecuador, and Venezuela. We estimate a stochastic volatility process for real interest rates. Then, we feed this process in a standard small open economy business cycle model. We find that an increase in real interest rate volatility triggers a fall in output, consumption, investment, hours, and debt. (JEL E13, E20, E32, E43, F32, F43, 011)
Overview
The claims and statistics of this paper haven’t been checked yet.
Run the check — free, no account needed. It reads the open-access text and checks the sources it cites.
Integrity signals
Registry
Cites
Statistics
Verification
Claims the paper makes
The claims and statistics of this paper haven’t been checked yet.
Run the check — free, no account needed. It reads the open-access text and checks the sources it cites.
Self-check
Percentages, sums and reported differences re-computed from the paper’s own numbers.
The self-check needs the paper’s full text.
Citations
Cites
Weak convergence and optimal scaling of random walk Metropolis algorithms
Roberts, G. O., Gelman, A., & Gilks, W. R. (1997) · The Annals of Applied Probability · doi:10.1214/aoap/1034625254 · Cited by 1,693
Cited by
Really Uncertain Business Cycles
Bloom, N., Floetotto, M., Jaimovich, N., Saporta-Eksten, I., & Terry, S. J. (2018) · Econometrica · doi:10.3982/ecta10927 · Cited by 1,120
Uncertainty and Economic Activity: Evidence from Business Survey Data
Bachmann, R., Elstner, S., & Sims, E. R. (2013) · American Economic Journal: Macroeconomics · doi:10.1257/mac.5.2.217 · Cited by 991
Fiscal Volatility Shocks and Economic Activity
Fernández-Villaverde, J., Guerrón-Quintana, P., Kuester, K., & Rubio-Ramírez, J. (2015) · American Economic Review · doi:10.1257/aer.20121236 · Cited by 938
Self-citationCapital regulation and monetary policy with fragile banks
Angeloni, I., & Faia, E. (2013) · Journal of Monetary Economics · doi:10.1016/j.jmoneco.2013.01.003 · Cited by 435
Does Uncertainty Reduce Growth? Using Disasters as Natural Experiments
Baker, S., & Bloom, N. (2013) · National Bureau of Economic Research · doi:10.3386/w19475 · Cited by 349
Metadata
- Authors
- Fernández-Villaverde, J., Guerrón-Quintana, P., Rubio-Ramírez, J. F., & Uribe, M.
- Venue
- American Economic Review
- Publisher
- American Economic Association
- Published
- 2011-10-01
- Volume
- 101
- Issue
- 6
- Pages
- 2530-2561
- ISSN
- 0002-8282 (ISSN-L)
- OpenAlex
- W3123313489
- Cited by
- 764
- References
- 1
- FWCI
- 137.91
- Type
- journal article
- Language
- en
- Open access
- closed
About these checks
Registry, retraction, Cites and statistics results are computed, not judged, with one exception: a printed reference that no index lists is read once by a model before it counts as a citation error. Claims are extracted by a model and kept only when their quote appears verbatim in the text; each cited source is then checked, with a model’s help, for whether it says what the claim relies on. Those verdicts can be wrong — read the claim’s quote and the cited source before relying on one.
Statistics and arithmetic are recomputed, not judged.
Confidence bands are shown only for fields calibrated on our annotated test set. None is calibrated yet, so no band is shown.
What counts as a claim ›How we measure confidence ›How we check this ›
Are you an author, or do you see a problem with this page? Request a review
How to cite
Cite CoChat for the checks on this page, and the paper for its own findings.
- This page
- CoChat. (2026). Citation check: Risk Matters: The Real Effects of Volatility Shocks. https://app.cochat.ai/papers/10.1257/aer.101.6.2530
- The paper
- Fernández-Villaverde, J., Guerrón-Quintana, P., Rubio-Ramírez, J. F., & Uribe, M. (2011). Risk Matters: The Real Effects of Volatility Shocks. American Economic Review. https://doi.org/10.1257/aer.101.6.2530
Data sources
Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
