This paper examines sychronisation and volatility of the business cycles of Pacific Rim countries which are closely linked by trade. Close synchronisation is evident amongst groups of countries, but it is difficult to establish meaningful cycle synchronisation between countries outside these...

By international standards, New Zealand's recent business cycle fluctuations have been exceptionally volatile. Fluctuations in central government and private fixed investment expenditure, the real net exports share, the terms of trade, and interest rates have also been particularly volatile....