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This study suggests another explanation of the "missing globalization puzzle" typically observed in the empirical gravity models. In contrast to the previous research that focused on aggregated trade flows, we employ the trade flows in manufacturing products broken down by 25 three-digit ISIC...
Persistent link: https://www.econbiz.de/10005069084
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Die internationale Verflechtung der Finanzmärkte führt dazu, dass der Ausfall von Krediten in einem Land auch von Geldgebern in anderen Ländern getragen werden muss. Bei einer konsequenten Anwendung des Prinzips der Gläubigerhaftung würde der Vermögensverlust von dem unmittelbar...
Persistent link: https://www.econbiz.de/10011273258
This study compares two alternative approaches to estimate parameters in gravity equations. We compare the traditional OLS approach applied to the log-linear form of the gravity model with the Poisson Quasi Maximum Likelihood (PQML) estimation procedure applied to the non-linear multiplicative...
Persistent link: https://www.econbiz.de/10005068639
Using a gravity-type explanation of international trade flows at the industry level, it is shown that the pattern of comparative advantage in terms of sectoral export/import ratios in bilateral trade can be explained by relative income and relative per capita income. Total income of a country is...
Persistent link: https://www.econbiz.de/10005068914
In October 2003, the European Union introduced a Directive which widens the scope of the EU's minimum taxation system from mineral oils to all energy products including coal, natural gas and electricity. It aims at reducing distortions that currently exist between Member States as well as...
Persistent link: https://www.econbiz.de/10004963759
bilateral trade flows between more than 200 countries over the period from 1960 to 1993. Applying an augmented gravity model that includes several measures of terrorism and largescale violence, we find compelling evidence that terrorist actions reduce the volume of trade; a doubling in the number...
Persistent link: https://www.econbiz.de/10004963790
This note explores the relationship between the price elasticity of demand and the R&D intensity of the product. We introduce the concept of R&D intensity into a standard Dixit-Stiglitz/Krugman-type setting. R&D activity is treated as a fixed cost of production. Within this framework, sectors...
Persistent link: https://www.econbiz.de/10004963820
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