International Evidence on the Determinants of Trade Dynamics

Eswar Prasad and Jeffery A. Gable
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Jeffery A. Gable: International Monetary Fund

IMF Staff Papers, 1998, vol. 45, issue 3, 401-439

Abstract: This paper provides some new empirical perspectives on the relationship between international trade and macroeconomic fluctuations in industrial economies. First, a comprehensive set of stylized facts concerning fluctuations in trade variables and their determinants is presented. A measure of the quantitative importance of international trade for the propagation of domestic business cycles is then constructed, focusing on the role of external trade as a catalyst for cyclical recoveries. Finally, structural vector autoregression models are used to characterize the joint dynamics of output, exchange rates, and trade variables in response to different types of macroeconomic shocks.

JEL-codes: E32 F10 F41 (search for similar items in EconPapers)
Date: 1998
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Citations: View citations in EconPapers (22)

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Working Paper: International Evidenceon the Determinants of Trade Dynamics (1997)
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Persistent link: https://EconPapers.repec.org/RePEc:pal:imfstp:v:45:y:1998:i:3:p:401-439

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