The evolution of structural gravity: The workhorse model of trade

被引：4
|
作者：
Yotov, Yoto V. [1 ,2 ]
机构：
[1] Drexel Univ, Philadelphia, PA USA
[2] Ifo Inst, Munich, Germany
来源：
CONTEMPORARY ECONOMIC POLICY | 2024年 / 42卷 / 04期
关键词：
estimation; evolution; general equilibrium; structural gravity; theory; ECONOMIC-INTEGRATION AGREEMENTS; GENERAL EQUILIBRIUM-ANALYSIS; INTERNATIONAL-TRADE; CURRENCY UNIONS; COSTS; DISTANCE; GEOGRAPHY; EQUATION; MARKET; ELASTICITIES;
D O I：
10.1111/coep.12666
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
The gravity model is the workhorse model of trade. Yet, many economists still view gravity as a reduced-form estimating equation and apply it without guidance from theory, while others are skeptical about its usefulness for counterfactual projections. This paper offers a historical overview of the evolution of gravity, from an a-theoretical application to an estimating computable general equilibrium model, which can be nested in more complex frameworks. Along the way, I address some misconceptions about gravity, summarize the current recommendations for gravity estimations, highlight properties that have made gravity so successful, and review the latest contributions to the related literature.
引用
收藏
页码：578 / 603
页数：26
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