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Estimating a theoretical gravity model over a sixty-year period, from 1948 to 2009, I found an unexpected trend: the currency union impact on trade is decreasing over time. This result suggests that with trade and financial globalization currency unions become less and less important to promote...
Persistent link: https://www.econbiz.de/10009644920
This paper shows that the Poisson quasi-maximum likelihood estimator applied to the gravity model produces estimates in … have this desirable property. Indeed, Poisson is the only quasi-maximum likelihood estimator that preserves total trade … flows. This result is an additional reason for preferring Poisson as a workhorse gravity model estimator. …
Persistent link: https://www.econbiz.de/10009353831
analysis is attractive. Two such models, the Poisson and negative binomial, are discussed. Robust estimation techniques that …
Persistent link: https://www.econbiz.de/10008646788
. The statistical models developed are applications and generalizations of Poisson and Negative Binomial distributions. Our …
Persistent link: https://www.econbiz.de/10008871188
With the notion of success in a series of trials extended to refer to a run of like outcomes, several new distributions are obtained as the result of sampling from an urn without replacement or with additional replacements. In this context, the hypergeometric, negative hypergeometric,...
Persistent link: https://www.econbiz.de/10005787191
Performance efficiency of human labor input is considered one of the most important factors affecting enhancement the production, there are some criteria that may be used to exploring performance efficiency of the worker. The research problem, can be summarized in the deviation the actual...
Persistent link: https://www.econbiz.de/10011258192
A graph representation of the financial relations in a given monetary structure is proposed. It is argued that the graph of debt-liability relations is naturally organized and simplified into a tree structure, around banks and a central bank. Indeed, this optimal graph allows to perform payments...
Persistent link: https://www.econbiz.de/10011262872
The present paper reviews the causes that led to the financial crisis. Unlike other interpretations, this paper does not place main significance on a single source or on a set of causes. I consider all major standpoints highlighted by research and media prior, during and after the financial...
Persistent link: https://www.econbiz.de/10009294924
Social well-being is intrinsically multidimensional. Welfare indices attempting to reduce this complexity to a unique measure abound in many areas of economics and public policy. Ranking alternatives based on such measures depends, sometimes critically, on how the different dimensions of welfare...
Persistent link: https://www.econbiz.de/10011107625
Presented is a mathematical model of single-product economy where credit expansion is used to increase the demand for product. Explored is the dynamics of affected product’s price, supply and demand. Shown is that expansion of the demand carries a temporal character.
Persistent link: https://www.econbiz.de/10011275125