01633cas a2200241 a 4500 AALejournalIMF000865 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451847680 1018-5941 BD-DhAAL BD-DhAAL Prasad, Eswar. International Trade and the Business Cycle / Eswar Prasad. Washington, D.C. : International Monetary Fund, 1999. 1 online resource (25 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper develops a new empirical framework for analyzing the dynamics of the trade balance in response to different types of macroeconomic shocks. The model provides a synthetic perspective on the conditional correlations between the business cycle and the trade balance that are generated by different shocks and attempts to reconcile these results with unconditional correlations found in the data. The results suggest that, in the post-Bretton Woods period, nominal shocks have been an important determinant of the forecast error variance for fluctuations in the trade balances of the Group of Seven countries. Mode of access: Internet IMF Working Papers; Working Paper ; No. 1999/056 Full text available on IMF http://elibrary.imf.org/view/journals/001/1999/056/001.1999.issue-056-en.xml IMF e-Library