Nonlinear estimation of the gravity model with Poisson-type regression methods has become popular to model international trade flows, because it permits a better accounting for zero flows and extreme values in the distribution tail. Nevertheless, as trade flows are not independent from each...

Despite recent efforts toward collecting evidence of vertical specialization for developed economies, scarce work has been dedicated to developing economies and to Argentina, in particular. The key contribution of this paper is to provide comparable estimates of vertical specialization as...

This paper investigates the uncertainty about the trading costs associated with a given portfolio strategy. I derive accurate approximations of the ex ante probability distributions of proportional trading costs and portfolio turnover under the conventional assumption of normal asset returns....

Despite recent efforts toward collecting evidence of vertical specialization for developed economies, scarce work has been dedicated to developing economies and to Argentina, in particular. The key contribution of this paper is to provide comparable estimates of vertical specialization as...