GAČR č. P402/12/0982: Trade Flows in Times of Economic Boom and Slump: Modifying the Gravity Model for Country, Time and Product-Specific Decision-Making
|Principal investigator:||doc. Ing. Vladimír Benáček CSc.|
doc. Ing. Vladimír Benáček CSc.
Mgr. Božena Bobková
Mgr. Eva Michalíková
Mgr. Michal Paulus
Jan Průša M.Phil. (Cantab), Ph.D.
Ing. Vilém Semerák M.A., Ph.D.
|Description:||Our innovative GM approach is to a large extent derived as a follow-up to the theoretical foundations and methodologies in estimating panel datasets of open economies as proposed and applied by Peter Egger in his recent research (the list of his publications related to GM is enclosed). It is our ambition to contribute to his ideas by our experiences at Charles University, which we derived from countless experiments, involving the participation of PhD and MA students in seminars aiming at testing various hypotheses on trade and finance using innovative econometric approaches. These are the two sources of our proposals to augment gravity modelling in several directions. GM are a part of wider research of open issues in international economics where the openness and globalisation are countervailed by forces of home bias and self-sufficiency (Obstfeld and Rogoff, 2000), to which we would like to contribute.
The innovations are aimed at enabling a decomposition of trade flows according to the location of agents within national borders, the direction of trade flows, the time span, and the product category. To achieve this objective, our research must align the theoretical context of models with the problems of real decision-makers. Therefore the specification and calibration of applied models, the data used for inferences and the techniques of estimation require many innovative adjustments. We aim to convert GM into a series of instruments capable of analysing the practical problems of exporters, producers in general, importers, investors and policy-makers. Compared to standard macroeconomic approaches to GM manifold of modifications of existing techniques are required to achieve this.
|Participation:||After the first year (2012) J. Á. Víšek and P. Vacek waived their participation and were replaced by Michal Paulus and Oxana Babecká-Kucharčuková.
The grant has an associated partner - Anglo-American University, Prague. Tým 5 výzkumníků tam vede prof. Peter Egger, jehož domovskou institucí je ETH Zurich.
|Work in grant:||Benáček V., Drábek Z.: Trade Reorientation and Global Reintegration. In: P. Hare & G. Turley (edit.) "Routledge Handbook on the Economics and Political Economy of Transition". London, Routledge, 2013.
Egger P., Lassmann A.: Language Effect in Int. Trade. A meta-analysis. Economics Letters, Vol. 116, 2012, pp. 221-224
Egger P., Larch M.: Tariff Evasion Effects in Quantitative General Equilibrium. Economics Letters, Vol. 116, 2012,262-264
Janda, K., Michalíková, E., Skuhrovec, J. (2012). “Credit Support for Export: Econometric Evidence from the Czech Republic” IES Working Paper 12/2012. IES FSV. Charles University.
Janda, K., Michalíková, E., Skuhrovec, J. (2012).“Credit Support for Export: Evidence from the Czech Republic.” CERGE IS Working Paper 461/2012. Charles University.
Janda, K., Michalíková, E., Skuhrovec, J. (2012). “Credit Support for Export: Evidence from the Czech Republic” submitted to The World Economy in 2012, invited for further revisions
Benáček, V., Lenihan, H., Andreosso-O’Callaghan, B., Michalíková, E., Kan, D. (2012). “Political Risk, Institutions and Foreign Direct Investment: How Do They Relate in Various European Countries?” IES Working Paper 24/2012. IES FSV. Charles University.
Benáček, V., Lenihan, H., Andreosso-O’Callaghan, B., Michalíková, E., Kan, D. (2012). “Political Risk, Institutions and Foreign Direct Investment: How Do They Relate in Various European Countries?” submitted to The World Economy in 2012-09-17
Průša, J. “The Most Efficient Czech SME Sectors: An Application of Robust Data Envelopment Analysis” Czech Journal of Economics and Finance 2012:1, pp. 44-65.
Ryska, P., Průša, J. “Efficiency Wages and Involuntary Unemployment Revisited” The Quarterly Journal of Austrian Economics 2012:3, pp. 277-303.
|Finance:||3 752 000 Kč na 3 roky pro FSV-IES, plus partner (AAU Praha) má samostatný rozpočet.|
|Downloadable:|| Benáček V., Drábek Z.: Trade Reorientation
Egger P., Dorn S.: Currency Regimes and Trade Patterns