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Partial Equilibrium Theory Of Interregional Trade And The Gravity Model

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  • Johannes Bröcker

Abstract

ABSTRACT Gravity models of the constrained, unconstrained and elastically constrained type are interpreted as reduced forms of spatial price equilibrium of interregional trade. The explicit forms of equilibrium models reducing to the different varieties of gravity models are presented. They are theoretically consistent in the sense that the underlying demand and supply functions are compatible with individual optimising behaviour. Forms other than the gravity type, however, are consistent as well. No choice can be made by mere theoretical arguments. But additional criteria like computational facility and factual conformity provide good reasons for preferring gravity forms in applied work.

Suggested Citation

  • Johannes Bröcker, 1989. "Partial Equilibrium Theory Of Interregional Trade And The Gravity Model," Papers in Regional Science, Wiley Blackwell, vol. 66(1), pages 7-18, January.
  • Handle: RePEc:bla:presci:v:66:y:1989:i:1:p:7-18
    DOI: 10.1111/j.1435-5597.1989.tb01167.x
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    Cited by:

    1. Ehsan Rasoulinezhad & Gil Seong Kang, 2016. "A Panel Data Analysis of South Korea’s Trade with OPEC Member Countries: The Gravity Model Approach," Iranian Economic Review (IER), Faculty of Economics,University of Tehran.Tehran,Iran, vol. 20(2), pages 203-224, Spring.
    2. Allah Morad Seif & Hossein Panahi & Davoud Hamidi Razi, 2017. "An Estimation of The Impact of Economic Sanctions and Oil Price Shocks on Iran-Russian Trade: Evidence from a Gravity- VEC Approach," Iranian Economic Review (IER), Faculty of Economics,University of Tehran.Tehran,Iran, vol. 21(3), pages 469-497, Summer.
    3. Walter C. Labys & Chin-wei Yang, 1991. "Advances in the Spatial Equilibrium Modeling of Mineral and Energy Issues," International Regional Science Review, , vol. 14(1), pages 61-94, April.
    4. Celik, H. Murat & Guldmann, Jean-Michel, 2002. "Spatial interaction modeling of interregional commodity flows," ERSA conference papers ersa02p121, European Regional Science Association.

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