Economics, Econometrics and Finance
4 years ago

New method revolutionizes trade models, providing accurate estimates and avoiding biases.

RePEc: Research Papers in Economics
Gravity Models of Trade: Unobserved Heterogeneity and Endogeneity
Félix Chan, Mark N. Harris, William H. Greene, László Kónya

Paper Summary

The article presents a new method to estimate trade flows between countries, addressing issues with unobserved differences and endogenous factors. The method provides accurate parameter estimates and is easy to use.

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