Programs TRAMO and SEATS, that contain an ARIMA-model-based methodology, are applied for seasonal adjustment and trend-cycle estimation of the exports, imports, and balance of trade Japanese series. The programs are used in an automatic mode, and the results are found satisfactory. It is shown how the SEATS output can be used to discriminate among competing models. Finally, using the balance of...

Using the United Nations COMTRADE database [1] we construct the Google matrix G of multiproduct world trade between the UN countries and analyze the properties of trade flows on this network for years 1962-2010. This construction, based on Markov chains, treats all countries on equal democratic grounds independently of their richness and at the same time it considers the contributions of trade ...

a r t i c l e i n f o The S-shaped cross-correlation function between the trade balance and the terms of trade has been documented for several countries and time frames. The ability of two-country, two-good business cycle models to reproduce this regularity hinges on the dynamics of capital formation. We consider the consequences of modeling the adjustment costs for comovement in the trade bala...