these spillovers into trade, commodity price, and financial market channels. For Canada, a one percent shock to U.S. real … important than trade in recent decades. Thus, a large proportion of the reduction in Canadian output volatility since the 1980s ….S. shock-"when the U.S. sneezes, Mexico catches a cold". These spillovers are transmitted through both trade and financial …

effect of the agreement in spurring a dramatic increase in trade and financial flows between Mexico and its NAFTA partners … regional free trade arrangements should be used to accelerate, rather than postpone, needed structural reform. …

This paper reexamines the relationship between trade integration and business cycle synchronization (BCS) using new … value-added trade data for 63 advanced and emerging economies during 1995–2012. In a panel framework, we identify a strong … positive impact of trade intensity on BCS—conditional on various controls, global common shocks and country …

the RoW, but has also gradually drifted away from the G7 in favour of the BRICs. Trade with the BRICs turns out to be the … strongest driver of this shift. Much of this impact unfolds through aggregate demand impulse from trade. As fiscal policy …