Gravity model

Gravity model

A model of the flows of bilateral trade based on analogy with the law of gravity in physics: T_ij = AY_iY_j/D_ij , where T_ij is exports from country i to country j, Y_i,Y_j are their national incomes, D_ij is the distance between them, and A is a constant. Other constants as exponents and other variables are often included. Due independently to Tinbergen (1962) and Pöyhönen (1963).

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Industry/Domain: Economy
Category: International economics
Company: University of Michigan
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