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The Growth and Welfare Effects of Macroeconomic Volatility
March 17-18, 2006


The conference included a combination of theoretical models, measurement analysis, and empirical results. Some of the questions debated were the following: - Is volatility a source or a reflection of underdevelopment? What are the mechanisms through which volatility affects welfare? Is growth the main channel? The conference also discussed policies and institutional safeguards that can be implemented to deal with macroeconomic volatility and, in particular, with external and domestic crises.