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- W3124367031 abstract "The focus is on cross-sectional dependence in panel trade flow models. We propose alternative specifications for modeling time invariant factors such as socio-cultural indicator variables, e.g., common language and currency. These are typically treated as a source of heterogeneity eliminated using fixed effects transformations, but we find evidence of cross-sectional dependence after eliminating country-specific and time-specific effects. These findings suggest use of alternative simultaneous dependence model specifications that accommodate cross-sectional dependence, which we set forth along with Bayesian estimation methods. Ignoring cross-sectional dependence implies biased estimates from panel trade flow models that rely on fixed effects." @default.
- W3124367031 created "2021-02-01" @default.
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- W3124367031 date "2017-01-01" @default.
- W3124367031 modified "2023-09-27" @default.
- W3124367031 title "Cross-sectional dependence model specifications in a static trade panel data setting" @default.
- W3124367031 hasPublicationYear "2017" @default.
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