This study provides an alternative approach that takes account of the unobserved effects of each seller under a sample selection framework. Empirical findings, after converting the Yahoo! Japan Auctions dataset into unbalanced panel data, show that seller reputation remains an important factor...

The United States economy suffers from persistent trade deficits, arising from the so-called 'global external imbalance'. Can the depreciation of the US dollar improve this phenomenon? This study for the first time applies the heterogeneous panel cointegration method to examine the long-run...