This paper provides a detailed description of recent research to re-estimate and re-specify the international trade volume and price equations that are used in the OECD Economics Department to analyse and project international trade developments. The set of countries covered by the estimations...

The collapse in world trade volumes at the end of 2008 and beginning of 2009 was exceptional by historical standards. This paper shows that world demand (to which trade has become more responsive in recent decades) can explain most of the collapse in world trade, but that tight credit conditions...

The degree of integration and openness of OECD economies has consistently increased throughout most of the past three decades. By limiting the influence of non-economic factors, and reducing heterogeneity in economic systems, increased integration and openness enhance the emergence of common...

This paper reviews the accuracy of the <I>OECD Economic Outlook projections</I> — both “<I>current year</I>” and “<I>year ahead</I>” — for output growth, inflation and current account balances (as a percentage of GDP) for the major seven countries, as well as projections for world trade growth. The...</i></i></i>

The OECD makes frequent use of the supply-side framework and associated measures of factor productivity, productive potential and associated output gaps in the assessment of the short-term conjunctural situation, comparative economic performance and longer-term growth determinants. This paper...

Over the past two years, the key trading economies in SE Asia experienced major economic crises, involving financial turbulence, large capital outflows and currency depreciations. These, in turn, resulted in severe financial constraints and business failures and required major domestic...

This paper provides a detailed description of recent research to re-estimate and re-specify the international trade volume and price equations that are used in the OECD Economics Department to analyse international trade developments. New panel data estimates of the factors affecting export...