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ESTIMATION ISSUES IN SINGLE COMMODITY GRAVITY TRADE MODELS

Prehn, Soren; Brummer, Bernhard - 2011

Recently gravity trade models are applied to disaggregated trade data. Here many zeros arecharacteristic. In the presence of excess zeros usual Poisson Pseudo Maximum Likelihood(PPML) is still consistent, the variance covariance matrix however is invalid. Correcteconomic interpretation however...

Persistent link: https://www.econbiz.de/10009446184

Brexit: situation and economic consequences

Buesa Olavarrieta, Alejandro; García Esteban, Coral; …

Artículo de revista ; The effective departure of the United Kingdom (UK) from the European Union (EU) opens up a new period of relations between the two areas. The current health crisis limits economic policies’ room for manoeuvre to accommodate the costs of transitioning to a new economic...

Persistent link: https://www.econbiz.de/10012525333

Estimation Issues in Single Commodity Gravity Trade Models

Prehn, Soren; Brummer, Bernhard - 2011

Recently gravity trade models are applied to disaggregated trade data. Here manyzeros are characteristic. In the presence of excess zeros usual Poisson Pseudo MaximumLikelihood (PPML) is still consistent, the variance covariance matrix howeveris invalid. Correct economic interpretation however...

Persistent link: https://www.econbiz.de/10009442838

The sensitivity of trade flows to trade barriers

Raimondi, Valentina; Olper, Alessandro - 2009

This study analyzes the sensitivity of trade flows to trade barriers from gravity equations, using different econometric techniques recently highlighted in the literature. Specifically, we compare a benchmark OLS fixed effects specification a la Feenstra (2002) with three emerging estimation...

Persistent link: https://www.econbiz.de/10009444786

Explaining German imports of olive oil: evidence from a gravity model

Kavallari, Aikaterini; Maas, Sarah; Schmitz, P. Michael - 2008

In this study the case of olive oil imports of Germany is examined since olive oil is a traditional Mediterranean commodity and Germany is the biggest importer in the EU. A gravity model has been employed so as to analyse those factors that explain the German imports of olive oil that were...

Persistent link: https://www.econbiz.de/10009446291

COMÉRCIO INTERESTADUAL E INFRA-ESTRUTURA NO BRASIL: UMA ANÁLISE DO RELACIONAMENTO NO BRASIL

Silva, Orlando Monteiro Da; Almeida, Fernanda Maria De - 2008

Uma melhoria da infra-estrutura e da logística, ao integrar a produção e os negócios entre as diferentes regiões ou países, reduz os custos do comércio e promove a riqueza. No entanto, as análises sobre o relacionamento da infra-estrutura com o comércio internacional tem tido muito mais...

Persistent link: https://www.econbiz.de/10009446745

Firm heterogeneity and political economy of international trade

Ergul, Esra - 2010

ultimately affect the world prices and trade pattern. We use the approach developed by HMR to specify and estimate a model of … for each country and their ultimate impact on world prices and trade pattern. We use the model to carry out a series of … in oil prices during 1997-2007 to have been caused by economic growth around the world, the demand and supply price …

Persistent link: https://www.econbiz.de/10009477887

The wise use of dummies in gravity models : export potentials in the Euromed region

Ruiz Pérez, Juan Manuel; Vilarrubia Tapia, Josep M. - 2007

In this paper, we estimate a gravity equation properly accounting for omitted exporter and importer’s overall trade resistance, through country yearly dummies for exporter and importer countries. We find that the omission of time varying multilateral trade resistance terms in the estimation of...

Persistent link: https://www.econbiz.de/10012530177

International migration pressures in the long run

Campos, Rodolfo G. - 2017

migration flows for the whole world. In contrast to their findings, and despite of the slowdown of population growth in Latin … America, the US will face sustained immigration pressures because of strong population growth in other regions of the world …, leading to a projected immigrant stock that grows for decades to come. For the world as a whole, international migrants are …

Persistent link: https://www.econbiz.de/10012530575

Currency unions and heterogeneous trade effects : the case of the Latin Monetary Union

Timini, Jacopo - 2017

El acuerdo de la Unión Monetaria Latina (UML), firmado en diciembre de 1865 por Francia, Italia, Bélgica y Suiza, estandarizó la acuñación de monedas de oro y plata en los países miembros y permitió la libre circulación de las monedas nacionales en la Unión. En un influyente estudio,...

Persistent link: https://www.econbiz.de/10012530580