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Gravity model
A model of the flows of bilateral trade based on analogy with the law of gravity in physics: Tij = AYiYj /Dij , where Tij is exports from country i to country j, Yi,Yj are their national incomes, Dij 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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- Part of Speech: noun
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- Industry/Domain: Economy
- Category: International economics
- Company: University of Michigan
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