英文标题：
《Re-visiting the Distance Coefficient in Gravity Model》
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作者：
Haonan Wu
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最新提交年份：
2015
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英文摘要：
  This paper revisits the classic gravity model in international trade and reexamines the distance coefficient. As pointed out by Frankel (1997), this coefficient measures the relative unit transportation cost between short distance and long distance rather than the absolute level of average transportation cost. Our results confirm this point in the sense that the coefficient has been very stable between 1991-2006, despite the obvious technological progress taken place during this period. Moreover, by comparing the sensitivity of these coefficients to change in oil prices at short periods of time, in which technology remained unchanged, we conclude that the average technology has indeed reduced the average trading cost. The results are robust when we divide the aggregate international trades into different industries.
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中文摘要：
本文回顾了国际贸易中的经典引力模型，并重新审视了距离系数。正如Frankel（1997）所指出的，该系数衡量的是短距离和长距离之间的相对单位运输成本，而不是平均运输成本的绝对水平。我们的结果证实了这一点，即在1991年至2006年期间，该系数一直非常稳定，尽管在此期间出现了明显的技术进步。此外，通过比较这些系数在短期内（技术保持不变）对石油价格变化的敏感性，我们得出结论，平均技术确实降低了平均交易成本。当我们将总体国际贸易划分为不同行业时，结果是稳健的。
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分类信息：

一级分类：Quantitative Finance        数量金融学
二级分类：Economics        经济学
分类描述：q-fin.EC is an alias for econ.GN. Economics, including micro and macro economics, international economics, theory of the firm, labor economics, and other economic topics outside finance
q-fin.ec是econ.gn的别名。经济学，包括微观和宏观经济学、国际经济学、企业理论、劳动经济学和其他金融以外的经济专题
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