Treatment of endogenous monadic variables in gravity equations

被引：3
|
作者：
Bayar, Omer [1 ]
机构：
[1] Univ Evansville, Schroeder Sch Business, 1800 Lincoln Ave, Evansville, IN 47722 USA
来源：
INTERNATIONAL REVIEW OF ECONOMICS & FINANCE | 2017年 / 52卷
关键词：
Monadic variables; Two-stage model; Treatment; Olympics; WORLD CUP; TRADE;
D O I：
10.1016/j.iref.2017.09.003
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
In the presence of country fixed effects, monadic variables are not identified in the traditional gravity equation. The paper uses a hybrid two-stage treatment model to overcome the identification problem. The model also accommodates endogeneity in monadic variables. An application to the trade impact of the Olympic Games is presented. Results highlight the empirical significance of endogeneity left untreated in the gravity equation.
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页码：21 / 28
页数：8
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