Publisher Summary This chapter discusses the salient features of international trade and
business cycles and summarizes the contributions of a particular branch of the literature on …

This work focuses on the welfare costs of exposure to shocks and uncertainty linked to trade
openness—a prominent issue in international debate. It contributes by presenting a …

A country'suitability for entry into a currency union depends on a number of economic
conditions. These include, inter alia, the intensity of trade with other potential members of the …

The paper investigates the common dynamic properties of business-cycle fluctuations
across countries, regions, and the world. We employ a Bayesian dynamic latent factor model …

I investigate the determinants of business cycle synchronization across regions. The
linkages between trade in goods, financial openness, specialization, and business cycle …

This paper investigates the determinants of business cycle comovement between countries.
Our dataset includes over 100 countries, both developed and developing. We search for …

Many interesting issues are posed by synchronization of cycles. In this paper, we define
synchronization and show how the degree of synchronization can be measured. We …

Recent empirical research finds that pairs of countries with stronger trade linkages tend to
have more highly correlated business cycles. We assess whether the standard international …

We show empirically that regions with a more specialized production structure exhibit output
fluctuations that are less correlated with those of other regions (less 'symmetric'fluctuations) …

This paper investigates the basic stylized facts of business cycles in the G7 countries using
quarterly data from 1960 to 1989. The methodology used is based on Kydland and Prescott …