Investment (FDI). The conventional proximity-concentration theory suggests that FDI substitutes for trade if distance between …

all variables proposed by theory, despite a broad set of fixed effects (FE). We find that both REERs are important and … multilateral resistances. Untangling normalization helps to get a better view of what is still unexplained by theory. …

Transaction costs are a major reason why international trade flows are much smaller than traditional trade theory would … bilateral trade, depending on the legal system. Moreover our estimation results suggest that the causal relation runs p …

Tobit estimation, truncated regression, probit regression and substitutions for zero flows have been suggested. We argue …

Estimation of the volatility of time series has taken off since the introduction of the GARCH and stochastic volatility … unobserved stochastic volatility, and the varying approaches that have been taken for such estimation. In order to simplify the … comprehension of these estimation methods, the main methods for estimating stochastic volatility are discussed, with focus on their …