| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP12521 |
| DP12521 Classical or Gravity? Which trade model best matches the UK facts? | |
| Patrick Minford | |
| 发表日期 | 2017-12-20 |
| 出版年 | 2017 |
| 语种 | 英语 |
| 摘要 | We examine the empirical evidence bearing on whether UK trade is governed by a Classical model or by a Gravity model, using annual data from 1965 to 2015 and the method of Indirect Inference which has very large power in this application. The Gravity model here differs from the Classical model in assuming imperfect competition and a positive effect of total trade on productivity. We found that the Classical model passed the test comfortably, and that the Gravity model also passed it but at a rather lower level of probability, though as the test power was raised it was rejected. The two models' policy implications are similar. |
| 主题 | Monetary Economics and Fluctuations |
| 关键词 | Bootstrap indirect inference Gravity model Classical trade model Uk trade |
| URL | https://cepr.org/publications/dp12521 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/541332 |
| 推荐引用方式 GB/T 7714 | Patrick Minford. DP12521 Classical or Gravity? Which trade model best matches the UK facts?. 2017. |
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