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Gravity Models in International Trade: An Exploration in Econo-Physics
South Asian Journal of Macroeconomics and Public Finance Pub Date : 2021-02-25 , DOI: 10.1177/2277978721989922
Iman Pal 1 , Saibal Kar 1, 2
Affiliation  

Several strands of the static and dynamic theoretical constructs and the empirical applications in the subject of economics owe substantially to the well-known principles of physical sciences. The present article explores as to how the development of the popular gravity models in international trade can be traced back to Newton’s law of gravitation, and to both Ohm’s Law and Kirchhoff’s Law of current electricity, as well as to the pattern recognition techniques commonly deployed in scientific applications. In addition to surveying these theoretical analogies, the article also offers numerical applications for observed trade patterns between India and a set of countries.

JEL Classifications: F41, F42, C61, F47



中文翻译:

国际贸易中的重力模型:经济物理学的探索

静态和动态理论构造的几条线以及在经济学学科中的经验应用,在很大程度上要归功于自然科学的众所周知的原理。本文探讨了如何在国际贸易中流行重力模型的发展可以追溯到牛顿的万有引力定律,欧姆定律和基尔霍夫定律的当前电力以及模式识别技术科学应用。除了调查这些理论上的比喻之外,本文还为观察到的印度与一组国家之间的贸易模式提供了数值应用。

JEL分类: F41,F42,C61,F47

更新日期:2021-03-15
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