Gravity Meets Pricing to Market: What a Combined-Method Approach Tells Us on German Beer Exports and Pricing

Heiko Dreyer; Svetlana Fedoseeva; Roland Herrmann

doi:10.1515/jbnst-2017-0106

Article

Gravity Meets Pricing to Market: What a Combined-Method Approach Tells Us on German Beer Exports and Pricing

Heiko Dreyer , Svetlana Fedoseeva and Roland Herrmann

Published/Copyright: August 5, 2017

Published by

Become an author with De Gruyter Brill

Submit Manuscript Author Information Explore this Subject

From the journal Jahrbücher für Nationalökonomie und Statistik Volume 237 Issue 4

Abstract

Gravity and pricing to market (PTM) models have been used to elaborate determinants of bilateral trade and export pricing for different countries and branches. Typically, only one of the two methods was chosen. We show in a stepwise approach how a combination of both methods can reveal novel results on the determinants of exports and export pricing behaviour. For the case of German beer exports, we show that structural differences exist between markets on which exporters apply either PTM or non-PTM strategies. German beer exporters apply PTM strategies, in particular local-currency stabilization, on those markets where imports are very sensitive to exchange-rate changes. Non-PTM strategies, i. e. full exchange-rate transmission, occur on export markets with insensitive reactions. Apart from PTM strategies, German beer exports are strongly dependent on policy variables such as the introduction of the Euro and the partner country’s membership in the EU.

Keywords: Incomplete pass-through; gravity model; pricing to market; export behaviour; German beer

JEL Classification: F10; F14; L66

Article Note

Work on this paper is based on the project “What Explains Agricultural Trade of the EU and Germany? Theoretical and Econometric Analyses on Liberalization, Macro Effects and Hysteresis” (HE 1419/12-1) financed by Deutsche Forschungsgemeinschaft.

Annex 1:

Descriptive statistics for the gravity variables.

		mean	Median	min	max	std. dev.	missing obs.
GDP_d	€	1.69E+11	8.59E+09	7.51E+06	1.14E+13	7.58E+11	308
GDP_G	€	2.07E+12	2.10E+12	1.46E+12	2.48E+12	2.75E+11	0
Dist_Gd	km	6274	6187	166	18,588	3996	20
Open_d		0.6305	0.5486	0.0052	3.6822	0.4066	1171
Rem_d		8023.2	7899.0	0.3	13,950.0	2286.5	163
TR	%	29.1	20.0	0.0	1200.0	84.8	2896
ER_Gd	LCU/Euro	2.69E+06	11.208	6.44E-08	9.85E+09	1.63E+08	336
Export Value	€	4.81E+06	1.74E+05	508	2.44E+08	2.00E+07	1174
Export quantity	kg	7.57E+06	2.29E+05	100	4.07E+08	3.02E+07	1174

Annex 2:

Gravity results for an annual panel of German beer exports, 1991–2010. Zero trade flows included.

	PPML (incl. zeros)				Panel least squares (+1)
	1	2	3	4	5	6	7	8
c	33.9***	21.9***	2.52	2.42	26.0	32.5*	–14.6**	–17.4**
	(6.41)	(5.81)	(4.46)	(4.05)	(17.74)	(17.91)	(7.18)	(7.09)
lnGDP_d	0.92***	0.97***	0.68***	0.74***	1.39***	1.43***	1.02***	1.15***
	(0.02)	(0.02)	(0.15)	(0.13)	(0.03)	(0.03)	(0.28)	(0.27)
lnGDP_G	–1.10***	–0.65**			–1.11*	–1.38**
	(0.24)	(0.21)			(0.62)	(0.62)
lnDist_Gd	–0.39***	–0.45***			–1.69***	–1.65***
	(0.05)	(0.05)			(0.11)	(0.11)
lnOpen_d	0.01	0.05	0.17	0.38*	0.23	0.37**	–0.26	–0.06
	(0.08)	(0.07)	(0.20)	(0.21)	(0.17)	(0.16)	(0.29)	(0.28)
lnRem_d	–1.06***	–1.26***	–0.35	–0.27	–0.42	–0.43	0.63	0.65
	(0.21)	(0.22)	(0.27)	(0.23)	(0.39)	(0.39)	(0.40)	(0.40)
ln(TR+1)	–0.22***	–0.22***	–0.08**	–0.08**	0.49***	0.49***	0.14**	0.14**
	(0.03)	(0.03)	(0.03)	(0.03)	(0.05)	(0.05)	(0.05)	(0.05)
EU_Gd	0.35**	0.14*	0.09	0.07	0.85***	0.87***	0.13	0.11
	(0.11)	(0.08)	(0.08)	(0.08)	(0.18)	(0.18)	(0.17)	(0.17)
Euro_Gd	0.70***	0.35***	0.54***	0.51***	0.42**	0.40***	0.48**	0.39**
	(0.10)	(0.09)	(0.09)	(0.09)	(0.20)	(0.21)	(0.35)	(0.22)
Contiguity_d	–0.91***	–0.73***			–1.87***	–1.85***
	(0.10)	(0.09)			(0.19)	(0.19)
Religion_d	1.01***	1.21***				–0.09
	(0.14)	(0.15)				(0.18)
lnER_Gd		0.10***		–0.39***	–0.06	0.02		0.03
		(0.01)		(0.10)	(0.18)	(0.03)		(0.12)
Country F.E.	N	N	Y	Y	N	N	Y	Y
Time F.E.	N	N	Y	Y	N	N	Y	Y
N	2688	2641	2708	2661	2688	2641	2708	2661
R² adj.	0.97	0.98	0.99	0.99	0.56	0.56	0.80	0.80

Notes: All variables are explained in the text or in Table 1. Robust standard errors are reported in parentheses. *, **, *** denotes significance at 10, 5 and 1 % error term level.

Annex 3:

PTM results without marginal cost proxy included.

	AU	CA	CH	DK	JP	SE	UK	US
C	1.53	‒0.39	0.36	‒0.04	‒0.65	‒0.81	‒0.50	‒0.43*
	1.08	0.46	0.42	0.04	1.29	0.45	0.85	0.23
lnPd,t−1	‒0.76***	‒0.43***	‒0.85***	0.00	‒1.01***	‒0.26***	‒0.41***	‒0.16***
	0.08	0.09	0.08	0.00	0.08	0.06	0.09	0.05
lnEd,t−1	0.15	‒0.30***	‒0.23**	0.01	0.03	0.32**	‒0.17*	‒0.14***
	0.10	0.07	0.10	0.01	0.08	0.15	0.09	0.05
lnGDPd,t−1	0.29**	‒0.31***	‒0.35***	0.00	‒0.19	‒0.25***	‒0.20	‒0.18***
	0.14	0.10	0.10	0.01	0.27	0.09	0.19	0.07
lnGDPG,t−1	‒0.66*	0.36**	0.18	0.01	0.33***	0.39**	0.27	0.27***
	0.36	0.18	0.13	0.01	0.07	0.17	0.36	0.11
ΔlnEd,t	‒0.09	‒0.05	‒0.54*	0.97***	‒0.12	0.38	‒0.20	0.00
	0.27	0.18	0.27	0.04	0.34	0.55	0.35	0.09
ΔlnGDPd,t	0.41	0.33	‒0.53	0.01	2.63	0.05	‒2.08	‒0.62
	1.19	0.62	0.96	0.02	1.65	0.28	1.52	0.47
ΔlnGDPG,t	0.03	‒0.69	‒0.19	0.00	‒1.33	‒0.61	2.95**	1.10***
	1.93	0.86	0.66	0.03	2.00	1.21	1.28	0.41
ΔlnEd,t−1				0.37		0.48	0.41	‒0.34***
				0.25		0.44	0.33	0.11
ΔlnGDPd,t−1				‒0.01		‒0.50*	2.69	0.34
				0.01		0.25	1.80	0.35
ΔlnGDPG,t−1				‒0.03		‒1.13	‒2.44	‒0.35
				0.03		1.47	1.58	0.38
ΔlnPd,t−1		‒0.38***		‒0.07		‒0.41***	‒0.46***	‒0.29***
		0.08		0.04		0.06	0.10	0.07
ΔlnEd,t−2							0.27
							0.41
ΔlnGDPd,t−2							2.03
							1.58
ΔlnGDPG,t−2							‒1.06
							1.38
ΔlnPd,t−2		‒0.26***					‒0.31***
		0.06					0.08
R² adj.	0.37	0.41	0.41	0.85	0.49	0.34	0.46	0.26
LR(12)	0.24	0.48	0.19	0.24	0.19	0.49	0.00	0.07
Reset	0.11	0.20	0.42	0.82	0.32	0.00	0.22	0.82
Cusum	Y	Y	Y	N	Y	Y	Y	Y
Bounds	25.47***	6.33***	32.37***	0.51	43.04***	4.56**	5.19***	2.47
Banerjee	‒10.05***	‒4.65***	‒11.21***	‒0.99	‒12.76***	‒4.21**	‒4.37**	‒3.00
LR	0.20	‒0.70***	‒0.27**	11.19	0.03	1.23**	‒0.40*	‒0.90***

Notes: Robust standard errors are reported in parentheses. *, **, *** denote significance at 10, 5 and 1 % error term level. LM=Breusch-Godfrey serial correlation test, p-value. RESET=Ramsey RESET test, p-value. J.-B.=Jarque-Bera test, p-value; CUSUM=stability test, Y marks stable results and N marks results leaving 5 % band. Bounds=F-stat. referring to Bounds testing approach, critical values are tabulated in Pesaran et al. (2001), Table CI (iii), k=5, asympt. 10%: 3.52, 5 %: 4.01, 1 %: 5.06. Banerjee: Critical values are tabulated in Banerjee et al (1998), Table 1 (A), k=5, T=100, 10%: ‒3.67, 5 %: ‒4.03, 1 %: ‒4.74. LR: long-run elasticity of exchange rate (eq. 9). AU: Australia, CA: Canada; CH: Switzerland; DK: Denmark; JP: Japan; SE: Sweden; UK: United Kingdom; US: United States.

Annex 4:

Gravity results from a monthly panel for German beer exports to 8 non-Euro countries, 1991–2011.

	PPML		Panel least squares
	Value (T_Gj,t)	Quantity (q_Gj,t)	ln Value (ln T_Gj,t)	ln Quantity (ln q_Gj,t)
c	19.40***	18.49***	‒34.2***	‒34.92***
	1.24	1.3	4.98	5.41
lnGDP_d	0.91***	0.99***	3.70***	3.44***
	0.06	0.06	0.34	0.37
lnGDP_G	‒0.55***	‒0.92***
	0.13	0.13
lnDist_Gd	‒0.30***	‒0.36***
	0.05	0.05
lnOpen_d	0.11	0.48***	0.32*	0.15
	0.13	0.12	0.15	0.17
lnRem_d	‒0.79***	‒0.63***	0.38*	0.28
	0.15	0.14	0.2	0.21
ln(TR_Gj+1)	0.04	0.07*	‒0.19***	‒0.21***
	0.03	0.03	0.03	0.03
EU_Gd	0.27*	0.38**	‒0.41***	‒0.09
	0.12	0.12	0.10	0.12
Contiguit_d	0.50***	0.56***
	0.15	0.16
lnER_Gd	‒0.45***	‒0.39***	‒1.19***	‒0.86***
	0.01	0.02	0.17	0.19
Country F.E.	N	N	Y	Y
Time F.E.	N	N	Y	Y
Std. Errors	PML (Huber/White) standard errors & covariance		White cross-section standard errors & covariance (d.f. corrected)
N	1884	1884	1884	1884
R² adj.	0.80	0.78	0.87	0.86

Notes: All variables are explained in the text. Robust standard errors are reported in parentheses. *, **, *** denotes significance at 10, 5 and 1 % error term level.

References

Adams, W.J. (2006), Beer in Germany and the United States. Journal of Economic Perspectives 20: 189–205.10.1257/089533006776526120Search in Google Scholar

Anderson, J.E. (1979), A Theoretical Foundation for the Gravity Equation. The American Economic Review 69: 106–116.Search in Google Scholar

Anderson, J.E., E. Van Wincoop (2003), Gravity with Gravitas: A Solution to the Border Puzzle. The American Economic Review 93: 170–192.10.3386/w8079Search in Google Scholar

Anderson, J.E., M. Vesselovsky, Y.V. Yotov (2013), Gravity, Scale and Exchange Rates. NBER Working Paper, No. 18807. Cambridge, Mass.: NBER.10.3386/w18807Search in Google Scholar

Anderson, J.E., M. Vesselovsky, Y.V. Yotov (2014), Gravity with Scale Economics. Working Paper Series, No. 2014-4. LeBow College of Business, Drexel University School of Economics, Philadelphia, PA: Drexel University.Search in Google Scholar

Bahmani-Oskooee, M., S.W. Hegerty (2007), Exchange Rate Volatility and Trade Flows: A Review Article. Journal of Economic Studies 34: 211–255.10.1108/01443580710772777Search in Google Scholar

Baier, S.L., J.H. Bergstrand (2009), Bonus Vetus OLS: A Simple Method for Approximating International Trade-Cost Effects Using the Gravity Equation. Journal of International Economics 77: 77–85.10.1016/j.jinteco.2008.10.004Search in Google Scholar

Baker, J.B., T.F. Bresnahan (1988), Estimating the Residual Demand Curve Facing a Single Firm. International Journal of Industrial Organization 6: 283–300.10.1016/S0167-7187(88)80012-2Search in Google Scholar

Baldwin, R. (2006), The Euro’s Trade Effects. European Central Bank (ECB) Working Paper Series, No. 594. Frankfurt ECB.10.2139/ssrn.886260Search in Google Scholar

Baldwin, R., V. DiNinio, L. Fontangé, R.A. De Santis, D. Taglioni (2008), Study on the Impact of the Euro on Trade and Foreign Direct Investment. Economic Paper 321, European Comission Directorate-General for Economic and Financial Affairs (EC DG ECFIN). Brussels: EC DG ECFIN.10.2139/ssrn.1163774Search in Google Scholar

Baldwin, R., D. Taglioni (2006), Gravity for Dummies and Dummies for Gravity Equation. NBER Working Paper, No. 12516, Cambridge, USA: NBER.10.3386/w12516Search in Google Scholar

Banerjee, A.J., J.J. Dolando, R. Mestre (1998), Error-Correction Mechanism Tests for Cointegration in a Single Equation Framework. Journal of Time-Series Analysis 19: 267–285.10.1111/1467-9892.00091Search in Google Scholar

Beer Statistics (2015), Beer Statistics 2015 Edition. Can be downloaded at: http://www.brewersofeurope.org/uploads/mycms-files/documents/publications/2015/statistics_2015_v3.pdf (last accessed 11 March 2016).Search in Google Scholar

Berger, H., V. Nitsch (2008), Zooming Out: The Trade Effect of the Euro in Historical Perspective. Journal of International Money and Finance 27: 1244–1260.10.1016/j.jimonfin.2008.07.005Search in Google Scholar

Bergstrand, J.H. (1985), The Gravity Equation in International Trade: Some Microeconomic Foundations and Empirical Evidence. The Review of Economics and Statistics 67: 474–481.10.2307/1925976Search in Google Scholar

Bergstrand, J.H. (1989), The Generalized Gravity Equation, Monopolistic Competition, and the Factor-Proportions Theory in International Trade. The Review of Economics and Statistics 71: 143–153.10.2307/1928061Search in Google Scholar

Bergstrand, J.H. (1990), The Heckscher-Ohlin-Samuelson Model, the Linder Hypothesis and the Determinants of Bilateral Intra-Industry Trade. The Economic Journal 100: 1216–1229.10.2307/2233969Search in Google Scholar

Blinder, A.S., E.R.D. Canetti, D.E. Lebow, J.B. Rudd (1998), Asking about Prices: A New Approach to Understanding Price Stickiness. New York, Russell Sage Foundation.Search in Google Scholar

BM (2012), German Beer Market: The Most Fragmented Market in Europe. “Beveragemanager.Net”. Can be downloaded at: http://beveragemanager.net/Article-Single-News.176.0.html?&tx_ ttnews[tt_news]=4362&tx. (last accessed 11 March 2016).Search in Google Scholar

Clark, P.G., N. Tamirisa, S.-J. Wei (2004), A New Look at Exchange Rate Volatility and Trade Flows. Occasional Paper 235, International Monetary Fund (IMF), Washington DC: IMF.10.5089/9781589063587.084Search in Google Scholar

Deardorff, A.V. (1998), Determinants of Bilateral Trade: Does Gravity Work in a Neoclassical World? 7–32 in: J.A. Frankel (ed.), The Regionalization of the World Economy. Chicago, London, University of Chicago Press.Search in Google Scholar

Disdier, A.-C., K. Head (2008), The Puzzling Persistence of the Distance Effect on Bilateral Trade. The Review of Economics and Statistics 90: 37–48.10.1162/rest.90.1.37Search in Google Scholar

Dreyer, H., S. Fedoseeva (2016), Gravity Models and Asymmetric Exchange Rate Effects: Insights from German Beer Exports. Agribusiness 32: 289–295.10.1002/agr.21469Search in Google Scholar

Feenstra, R. (2002), Border Effects and the Gravity Equation: Consistent Methods for Estimation. Scottish Journal of Political Economy 49: 491–506.10.1111/1467-9485.00244Search in Google Scholar

Flam, H., H. Nordström (2006), Euro Effects on the Intensive and Extensive Margins of Trade. Working Paper 1881, Center for Economic Studies, ifo Institute (CESifo). Munich: CESifo.10.2139/ssrn.956274Search in Google Scholar

Fogarty, J.J. (2010), The Demand for Beer, Wine and Spirits: A Survey of the Literature. Journal of Economic Surveys 24: 428–478.10.1111/j.1467-6419.2009.00591.xSearch in Google Scholar

Frankel, J.A. (1997) (ed.) Regional Trading Blocs in the World Economic System. Washington, DC, Institute for International Economics.Search in Google Scholar

Glauben, T., J.-P. Loy (2003), Pricing-To-Market versus Residual Demand Elasticity Analysis of Imperfect Competition in Food Exports: Evidence from Germany. Journal of Agricultural & Food Industrial Organization 1: 1–19.10.2202/1542-0485.1004Search in Google Scholar

Goldberg, P.K., R. Hellerstein (2008), A Structural Approach to Explaining Incomplete Exchange-Rate Pass-Through and Pricing-To-Market. American Economic Review: Papers and Proceedings 98: 423–429.10.1257/aer.98.2.423Search in Google Scholar

Goldberg, P.K., R. Hellerstein (2013), A Structural Approach to Identifying the Sources of Local Currency Price Stability. The Review of Economic Studies 80: 175–210.10.3386/w13183Search in Google Scholar

Goldberg, P.K., M.M. Knetter (1997), Goods Prices and Exchange Rates: What Have We Learned? Journal of Economic Literature 35: 1243–1272.10.3386/w5862Search in Google Scholar

Goldberg, P.K., M.M. Knetter (1999), Measuring the Intensity of Competition in Export Markets. Journal of International Economics 47: 27–60.10.3386/w5226Search in Google Scholar

Görg, H., L. Halpern, B. Muraközy (2010), Why Do Within Firm-Product Export Prices Differ Across Markets? Discussion Paper 7708, Center for Economic and Policy Research (CEPR). London: CEPR.Search in Google Scholar

Hellerstein, R. (2008), Who Bears the Cost of a Change in the Exchange Rate? Pass-Through Accounting for the Case of Beer. Journal of International Economics 76: 14–32.10.1016/j.jinteco.2008.03.007Search in Google Scholar

Helpman, E. (1987), Imperfect Competition and International Trade: Evidence from Fourteen Industrial Countries. Journal of the Japanese and International Economics 1: 62–81.10.1016/0889-1583(87)90027-XSearch in Google Scholar

Herrmann, R., A. Möser, S.A. Weber (2005), Price Rigidity in the German Grocery-Retailing Sector: Scanner-Data Evidence on Magnitude and Causes. Journal of Agricultural and Food Industrial Organization 3: 1–35.10.2202/1542-0485.1089Search in Google Scholar

Knetter, M.M. (1989), Price Discrimination by US and German Exporters. The American Economic Review 79: 198–210.Search in Google Scholar

Knetter, M.M. (1994), Did the Strong Dollar Increase Competition in US. Product Markets? The Review of Economics and Statistics 76: 192–195.10.2307/2109838Search in Google Scholar

Krugman, P. (1987), Pricing to Market When the Exchange Rate Changes. 49–70 in: S.W. Arndt, J.D. Richardson (eds.), Real-Financial Linkages among Open Economies. Cambridge, Mass., MIT Press.Search in Google Scholar

Lavoie, N., Q. Liu (2007), Pricing-to-Market: Price Discrimination or Product Differentiation? American Journal of Agricultural Economics 89: 571–581.10.1111/j.1467-8276.2006.01000.xSearch in Google Scholar

Manova, K., Z. Zhang (2012), Export Prices across Firms and Destinations. The Quarterly Journal of Economics 127: 379–436.10.3386/w15342Search in Google Scholar

Mehta, R. (2012), Mergers and Acquisitions in the Global Brewing Industry. Frankfurt am Main, Peter Lang.Search in Google Scholar

Nakamura, E., J. Steinsson (2008), Five Facts about Prices: A Reevaluation of Menu Cost Models. Quarterly Journal of Economics 123: 1415–1464.10.1162/qjec.2008.123.4.1415Search in Google Scholar

Nitsch, V., M. Pisu (2008), Scalpel, Please! Dissecting the Euro’s Effect on Trade. ETH Zurich and National Bank of Belgium (NBB). Brussels: NBB.Search in Google Scholar

Olper, A., D. Curzi, D.G. Frisio, V. Raimondi (2012), Home Bias in Consumption: A Comparison between Wine and Beer. German Journal of Agricultural Economics (Agrarwirtschaft) 61: 223–234.10.52825/gjae.v61i4.1883Search in Google Scholar

Pesaran, M.H., Y. Shin, R.J. Smith (2001), Bounds Testing Approaches to the Analysis of Level Relationships. Journal of Applied Econometrics 16: 289–326.10.1002/jae.616Search in Google Scholar

Poelmans, E., J.F.M. Swinnen (2011), A Brief Economic History of Beer. 3–28 in: J.F.M. Swinnen (ed.), The Economics of Beer. Oxford, New York, Oxford University Press.10.1093/acprof:oso/9780199693801.003.0001Search in Google Scholar

Raimondi, V., A. Olper (2011), Trade Elasticity, Gravity and Trade Liberalisation: Evidence from the Food Industry. Journal of Agricultural Economics 62: 525–550.10.1111/j.1477-9552.2011.00303.xSearch in Google Scholar

Rose, A.K. (2000), One Money, One Market: The Effect of Common Currencies on Trade. Economic Policy 15: 7–45.10.3386/w7432Search in Google Scholar

Rose, A.K., T.D. Stanley (2005), A Meta-Analysis of the Effect of Common Currencies on International Trade. Journal of Economic Surveys 19: 347–365.10.3386/w10373Search in Google Scholar

Schmid, S., A. Luber (2013), Internationalisierung Als Randaktivität. 113–123 in: S. Schmid (ed.), Strategien Der Internationalisierung: Fallstudien Und Fallbeispiele. München, Oldenbourg.10.1524/9783486721478.113Search in Google Scholar

Silva, J.M.C.S., S. Tenreyro (2006), The Log of Gravity. The Review of Economics and Statistics 88: 641–658.10.1162/rest.88.4.641Search in Google Scholar

Silvente, F.R. (2005), Price Discrimination and Market Power in Export Markets: The Case of the Ceramic Tile Industry. Journal of Applied Economics 8: 347–370.10.1080/15140326.2005.12040632Search in Google Scholar

Smith, S. (2005), Economic Issues in Alcohol Taxation. 56–83 in: S. Cnossen (ed.), Theory and Practice of Excise Taxation. Smoking, Drinking, Gambling, Polluting, and Driving. Oxford, Oxford University Press.10.1093/0199278598.003.0003Search in Google Scholar

Spiegel Online (2012), Europa Verliert Für Deutsche Exporteure an Bedeutung. Spiegel Online, May 16, 2012. Can be downloaded at: http://spon.de/adE0M (last accessed on 21.11.2016).Search in Google Scholar

Sutton, J. (1991) (ed.) Sunk Costs and Market Structure: Price Competition, Advertising, and the Evolution of Concentration. Cambridge, Mass., MIT Press.Search in Google Scholar

Tinbergen, J. (1962) (ed.) Shaping the World Economy. Suggestions for an International Economic Policy. New York, Twentieth Century Fund.Search in Google Scholar

Tremblay, V.J., C.H. Tremblay (2005), The US Brewing Industry. Data and Economic Analysis. Cambridge, Mass., London, MIT Press.Search in Google Scholar

Van Bergeijk, P.A.G., S. Brakman (2010), Introduction: The Comeback of the Gravity Model. Advances and Applications. 1–26 in: P.A.G. Van Bergeijk, S. Brakman (eds.), The Gravity Model in International Trade. Cambridge, Cambridge University Press.10.1017/CBO9780511762109Search in Google Scholar

Wei, S. (1996), Intra-National versus International Trade: How Stubborn are Nation States in Globalization? NBER Working Paper, No. 5331. Cambridge, USA: NBER.10.3386/w5531Search in Google Scholar

Code and Datasets

The author(s) published code and data associated with this article in the ZBW Journal Data Archive, a storage platform for datasets. See: https://doi.org/10.15456/jbnst.2017177.083355.

Received: 2016-07-25

Revised: 2017-02-16

Accepted: 2017-06-18

Published Online: 2017-08-05

Published in Print: 2017-10-26

You are currently not able to access this content.

Articles in the same Issue

https://doi.org/10.1515/jbnst-2017-0106

Keywords for this article

Incomplete pass-through; gravity model; pricing to market; export behaviour; German beer