(e) Estimate the following model:In exports = Bo + B1 ln gdp_d + B2 ln dist_d + B3comlang + B4 (In dist_d x comlang) + uCalculate the marginal effect of distance on UK's exports. Interpret this result.

The given model is: ln exports =β0+β1 (ln gdp.d) +β2(ln dist.d) +β3(comlang) +β4(ln dist.d*comlang)+…

Estimate the following model: In exports Bo + B1 ln gdp_d + B2 In dist_d + B3comlang + B4 (In dist_d × comlang) + u Calculate the marginal effect of distance on UK’s exports. Interpret this result.

Estimate the following model: In exports Bo + B1 ln gdp_d + B2 In dist_d + B3comlang + B4 (In dist_d × comlang) + u Calculate the marginal effect of distance on UK’s exports. Interpret this result.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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(e) Estimate the following model:
In exports = Bo + B1 ln gdp_d + B2 ln dist_d + B3comlang + B4 (In dist_d x comlang) + u
Calculate the marginal effect of distance on UK's exports. Interpret this result.

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