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Odhad gravitační rovnice na panelových datech. Je používání logaritmické transformace vhodným postupem? / Gravity model estimation using panel data - is logarithmic transformation advisable?

This thesis investigates the question if the estimation of gravity model of in- ternational trade based on the logarithmic transformation of the model is ad- visable when panel data are employed for the estimation. We have derived theoretically that in the presence of heteroskedasticity the logarithmic trans- formation causes inconsistency of the estimated coefficients. According to the literature, we have recommended rather the Poisson pseudo maximum likeli- hood estimation technique for the empirical research of the gravity model. We have also provided an empirical analysis of Czech and German panel data sets based on the comparison of the performance of traditional and Poisson estima- tion approaches. This analysis confirrms Poisson pseudo maximum likelihood estimation method as a more proper method for estimating the coefficients of the gravity equation.

Identiferoai:union.ndltd.org:nusl.cz/oai:invenio.nusl.cz:311286
Date January 2012
CreatorsBobková, Božena
ContributorsBenáček, Vladimír, Baruník, Jozef
Source SetsCzech ETDs
LanguageEnglish
Detected LanguageEnglish
Typeinfo:eu-repo/semantics/masterThesis
Rightsinfo:eu-repo/semantics/restrictedAccess

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