Inklaar, Robert; Jong-A-Pin, Richard; de Haan, Jakob - In: European Economic Review 52 (2008) 4, pp. 646-666
This paper re-examines the relationship between trade intensity and business cycle synchronization for 21 OECD countries in the period 1970-2003. Instead of using instrumental variables, we estimate a multivariate model including variables capturing specialization and similarity of economic...