In this paper, we study the role of the transportation sector in world trade. We build a spatial model that centers on the interaction of the market for (oceanic) transportation services and the market for world trade in goods. The model delivers equilibrium trade flows, as well as equilibrium...

While optimally weighted generalized method of moments (GAM) estimation has desirable large sample properties, its small sample performance is poor in some applications. The authors propose a computationally simple alternative, for weakly dependent data generating mechanisms, based on...

This paper proposes an asymptotically efficient method for estimating models with conditional moment restrictions. Our estimator generalizes the maximum empirical likelihood estimator (MELE) of Qin and Lawless (1994). Using a kernel smoothing method, we efficiently incorporate the information...