Hard Brexit Could Lead to Substantial Drop in UK-EU Trade
The article presents a new way to analyze data that combines spatial patterns and hidden factors. By using special techniques to handle tricky issues like hidden factors affecting the data, the researchers were able to create accurate estimations of their models. Their method was tested with computer simulations and found to work well. Applying this approach to trade data between the UK and EU countries, they discovered that trade could drop significantly after a hard Brexit.