The Gravity Equation in International Trade: An Explanation
成果类型：
Article
署名作者：
Chaney, Thomas
署名单位：
Institut d'Etudes Politiques Paris (Sciences Po)
刊物名称：
JOURNAL OF POLITICAL ECONOMY
ISSN/ISSBN：
0022-3808
DOI：
10.1086/694292
发表日期：
2018
页码：
150-177
关键词：
摘要：
The gravity equation in international trade states that bilateral exports are proportional to economic size and inversely proportional to geographic distance. While the role of size is well understood, that of distance remains mysterious. I offer an explanation for the role of distance: If (i) the distribution of firm sizes is Pareto, (ii) the average squared distance of a firm's exports is an increasing power function of its size, and (iii) a parameter restriction holds, then the distance elasticity of trade is constant for long distances. When the firm size distribution follows Zipf's law, trade is inversely proportional to distance.
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