The Gravity Model In International Trade
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The Gravity Model In International Trade
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Author : Peter A. G. van Bergeijk
language : en
Publisher: Cambridge University Press
Release Date : 2010-06-10
The Gravity Model In International Trade written by Peter A. G. van Bergeijk and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-06-10 with Business & Economics categories.
How do borders affect trade? Are cultural and institutional differences important for trade? Is environmental policy relevant to trade? How does one's income or wage relate to the fact that trade partners are nearby or far away? These are just some of the important questions that can be answered using the gravity model of international trade. This model predicts and explains bilateral trade flows in terms of the economic size and distance between trading partners (e.g. states, regions, countries, trading blocs). In recent years, there has been a surge of interest in this model and it is now one of the most widely applied tools in applied international economics. This book traces the history of the gravity model and takes stock of recent methodological and theoretical advances, including new approximations for multilateral trade resistance, insightful analyses of the measurement of economic distance and analyses of foreign direct investment.
The Econometrics Of Multi Dimensional Panels
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Author : Laszlo Matyas
language : en
Publisher: Springer
Release Date : 2017-07-26
The Econometrics Of Multi Dimensional Panels written by Laszlo Matyas and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-07-26 with Business & Economics categories.
This book presents the econometric foundations and applications of multi-dimensional panels, including modern methods of big data analysis. The last two decades or so, the use of panel data has become a standard in many areas of economic analysis. The available models formulations became more complex, the estimation and hypothesis testing methods more sophisticated. The interaction between economics and econometrics resulted in a huge publication output, deepening and widening immensely our knowledge and understanding in both. The traditional panel data, by nature, are two-dimensional. Lately, however, as part of the big data revolution, there has been a rapid emergence of three, four and even higher dimensional panel data sets. These have started to be used to study the flow of goods, capital, and services, but also some other economic phenomena that can be better understood in higher dimensions. Oddly, applications rushed ahead of theory in this field. This book is aimed at filling this widening gap. The first theoretical part of the volume is providing the econometric foundations to deal with these new high-dimensional panel data sets. It not only synthesizes our current knowledge, but mostly, presents new research results. The second empirical part of the book provides insight into the most relevant applications in this area. These chapters are a mixture of surveys and new results, always focusing on the econometric problems and feasible solutions.
The Gravity Model In International Trade
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Author : Luca De Benedictis
language : en
Publisher:
Release Date : 2014
The Gravity Model In International Trade written by Luca De Benedictis and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with categories.
Since Jan Tinberben's original formulation (Tinbergen 1962), the empirical analysis of bilateral trade flows through the estimation of a gravity equation has gone a long way. It has acquired a solid reputation of good fitting; it gained respected micro foundations that allowed it to move to a mature stage in which the “turn-over” gravity equation has been replaced by a gravity model; and it has dominated the literature on trade policy evaluation. In this chapter we show how some of the issues raised by Tinbergen have been the step stones of a 50-year long research agenda, and how the numerous empirical and theoretical contributions that followed dealt with old problems and highlighted new ones. Some future promising research issues are finally indicated.
Regional Trading Blocs In The World Economic System
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Author : Jeffrey A. Frankel
language : en
Publisher: Peterson Institute
Release Date : 1997
Regional Trading Blocs In The World Economic System written by Jeffrey A. Frankel and has been published by Peterson Institute this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997 with Business & Economics categories.
Covers trends from 1957 to 1995.
Understanding Globalization Through The Lens Of Gravity
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Author : Jeffrey H. Bergstrand
language : en
Publisher: World Scientific Publishing Company
Release Date : 2019
Understanding Globalization Through The Lens Of Gravity written by Jeffrey H. Bergstrand and has been published by World Scientific Publishing Company this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with Free trade categories.
Since 1962, economists have used the "gravity equation" in international trade to explain empirically bilateral international trade flows, and have since more recently adopted the gravity model to explain foreign direct investment stocks. Motivated by its empirical success, Jeffrey H. Bergstrand provided one of the earliest formal theoretical foundations for the gravity equation in international trade in 1985. Since then, the gravity equation has become a fundamental element of international trade theory, empirical work, and policy analysis, especially of the effects of economic integration agreements and tariffs on trade flows and welfare. Understanding Globalization Through the Lens of Gravity is a curated collection of Bergstrand's published papers over the 30 years since his first paper on the theme of gravity. In four parts, the 17 papers span topics such as the determinants of international trade flows, economic determinants of free trade agreements, estimating the effects of economic integration agreements on trade flows, and economic determinants of multinational firms' foreign direct investment stocks, foreign affiliate sales and governments' bilateral investment treaties.
The Gravity Equation In International Trade
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Author : Thomas Chaney
language : en
Publisher:
Release Date : 2013
The Gravity Equation In International Trade written by Thomas Chaney and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with Economics categories.
The gravity equation in international trade is one of the most robust empirical finding in economics: bilateral trade between two countries is proportional to size, measured by GDP, and inversely proportional to the geographic distance between them. While the role of size is well understood, the role of distance remains a mystery. I propose the first explanation for the gravity equation in international trade, based on the emergence of a stable network of input-output linkages between firms. Over time, a firm acquires more suppliers and customers, which tend to be further away. I show that if, as observed empirically, (i) the distribution of firm sizes is well approximated by Zipf's law and (ii) larger firms export over longer distances on average, then aggregate trade is inversely proportional to distance. Data on firm level, sectoral, and aggregate trade support further predictions of the model.
Trade And Diplomacy
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Author : Peter A. G. van Bergeijk
language : en
Publisher:
Release Date : 1989
Trade And Diplomacy written by Peter A. G. van Bergeijk and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1989 with Commerce categories.
The Trade Impact Of European Union Preferential Policies
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Author : Luca De Benedictis
language : en
Publisher: Springer Science & Business Media
Release Date : 2011-06-21
The Trade Impact Of European Union Preferential Policies written by Luca De Benedictis and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-06-21 with Business & Economics categories.
The book investigates the EU preferential trade policy and, in particular, the impact it had on trade flows from developing countries. It shows that the capability of the "trade as aid" model to deliver its expected benefits to these countries crucially differs between preferential schemes and sectors. The book takes an eclectic but rigorous approach to the econometric analysis by combining different specifications of the gravity model. An in-depth presentation of the gravity model is also included, providing significant insights into the distinctive features of this technique and its state-of-art implementation. The evidence produced in the book is extensively applied to the analysis of the EU preferential policies with substantial suggestions for future improvement. Additional electronic material to replicate the book's analysis (datasets and Gams and Stata 9.0 routines) can be found in the Extra Materials menu on the website of the book.
Trade And Diplomacy
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Author : Peter A. G. van Bergeijk
language : en
Publisher:
Release Date : 1989
Trade And Diplomacy written by Peter A. G. van Bergeijk and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1989 with categories.
The Gravity Model For International Trade
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Author : Tamas Krisztin
language : en
Publisher:
Release Date : 2015
The Gravity Model For International Trade written by Tamas Krisztin and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with categories.
The Poisson gravity model along with pseudo ML methods has become a popular way to model international trade flows. This approach has several econometric advantages that we outline in the paper. We argue that estimating the parameters by ML would only be justified statistically if the trade flows were independent. Such an assumption, however, is generally not valid, and a failure to account for spatial dependence may lead to biased parameter estimates and misleading inferences. To overcome this estimation problem we suggest eigenvector spatial filtering variants of the Poisson gravity model (without and with zero-inflation) along with pseudo ML estimation.