This paper tests for the existence of a bank lending channel in the transmission of monetary policy in Brazil using monthly aggregate data for the period 1995:12 through 2008:6. The test is carried out in a VECM setting that allows for multiple cointegrating relationships among the variables of...

Since the beginning of the decade, France has seen a marked decline in its export performance, leading to growing concerns on the part of the authorities and of civil society about the economy’s capacity to adapt to the intensified globalisation of trade and investment in goods and services....

This paper presents new estimates of country-specific international transport costs for 21 OECD countries over the period 1973-2005. The methodology is based on direct measures of air, maritime, and road transport costs rather than on cif/fob ratios or other balance of payments data employed in...

This paper provides a mainly graphical summary of the trade matrices underlying the OECD’s international macroeconomic model Interlink. In doing so it gives a snapshot of the geographical nature of global trading relationships, in particular between individual OECD countries and the main...

Globalisation can be a threat or an opportunity, depending on a country’s trade mix and its economic and regulatory structure. This paper assesses which EU countries are most exposed to globalisation using, among other indicators, measures of revealed comparative advantage. It then looks at...

Brazil, like other natural resource-exporting countries, has benefited from a sharp increase in commodity prices over the last few years. To investigate the possible impact of terms-of-trade gains on the real economy, this paper estimates normalised quadratic input demand and output supply...

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...

France has seen a marked deterioration in its export performance in the last 10 years or so. Previous empirical research pointed out that weak export performance was due to i) vigorous domestic demand; ii) lower mark-ups due to head-to-head competition with Germany; iii) low non-price...

After a recession of historic proportions, an export-led recovery is gaining traction in Ireland. The pace of recovery, however, varies sharply across sectors. While export-oriented manufacturing and services, led by large multinationals, have reached record-high levels of output,...

This paper describes the sources and methods used to construct the trade matrices of the OECD trade system. It also provides an overview of the trade relationships between countries, especially individual OECD countries and the main non-OECD economies, as well as their evolution between 2000 and...