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...

High and persistent unemployment is a key policy issue in many OECD countries, particularly in Europe. Many initiatives have been taken to reduce this problem. In 1994, the OECD launched the OECD Jobs Study, which contained both a thorough analysis of the issue and a comprehensive set of policy...

This paper first reviews a number of stylised facts concerning OECD country business cycles over the past four decades. In general, the amplitude of business cycles has fallen, driven mainly by declining fluctuations of domestic demand. As a result, international divergencies of cyclical...