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A fast, easy, and efficient estimator for the trade flux between heterogeneous economies

By Robert Sova and Anamaria Sova


Compared to time-series or cross-section analyses, panel data allow us to control for individual specific characteristics - possibly unobservable - which may be correlated with certain explanatory variables in the specification of an economic relationship. Not controlling for unobservables leads to obtaining biased results. After controlling for such unobservable characteristics, we calculate efficient estimates of a trade flux equation between heterogeneous economies.

Topics: F15 - Economic Integration, C23 - Models with Panel Data; Longitudinal Data; Spatial Time Series, F12 - Models of Trade with Imperfect Competition and Scale Economies
Year: 2007
OAI identifier: oai:mpra.ub.uni-muenchen.de:3457

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