Gravity: a popular tool. Gravity: a recap Standard proxies for trade costs.

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Presentation transcript:

Gravity: a popular tool

Gravity: a recap

Standard proxies for trade costs

Initial equation estimated

Theoretical foundation: historical evolution

Technical derivation

Multilateral resistance: the intuition

Theoretically founded equation

Gravity specification of Multilateral trade resistance

Country fixed effects

Cross country equation (1 year) It is impossible to estimate the coefficient of GDP or other country specific variable

More than 1 year: panel data

Panel data: time-varying fixed effects

Estimating using country-pair fixed effects Random effects: use Hausman test in order to choose between random and fixed effects estimation

Recent theoretical developments

Data sources