Five macroeconomic features were associated with high volatility according to him (conveniently he is also director of the Volatility Institute at NYU):
These were: 1) high inflation; 2) low growth rate of output; 3) high volatility of the short-term interest rate; 4) high volatility of the growth of gross domestic product; and 5) high volatility of the inflation rate.
FT.com / Markets / Insight - The threat that won’t go away
These were: 1) high inflation; 2) low growth rate of output; 3) high volatility of the short-term interest rate; 4) high volatility of the growth of gross domestic product; and 5) high volatility of the inflation rate.
FT.com / Markets / Insight - The threat that won’t go away