Explain what are the proxies for trade costs in the Gravity Model of International Trade
Question
Solution 1
The Gravity Model of International Trade is a model in international economics which postulates that economic trade between two countries can be estimated through the product of their respective GDPs, divided by the distance between them.
In this model, trade costs are not directly observable but Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study prob
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