id	author	title	date	pages	extension	mime	words	sentences	flesch	summary	cache	txt
cord-026144-buctm04o	Mullick, Shantanu	Modeling the Costs of Trade Finance During the Financial Crisis of 2008–2009: An Application of Dynamic Hierarchical Linear Model	2020-05-18		.txt	text/plain	5258	272	55	The authors propose a dynamic hierarchical linear model (DHLM) to study the variations in the costs of trade finance over time and across countries in dynamic environments such as the global financial crisis of 2008–2009. The authors employ a DHLM to examine how the effects of four macroeconomic indicators – GDP growth, inflation, trade intensity and stock market capitalization on trade finance costs varied over a period of five years from 2006 to 2010 across 8 countries. A systematic study of the drivers of trade finance costs can be challenging: modeling the effects of these drivers in dynamic environments (e.g., a financial crisis) requires one to have a method that can account for non-stationarity, changes in parameters over time as well as account for cross-sectional heterogeneity [42] . Nonstationarity, time-varying parameters and cross-sectional heterogeneity render measurement and modeling of factors that impact the dependent variable of interest-in our case, cost of trade finance-challenging in dynamic environments (such as a financial crisis).	./cache/cord-026144-buctm04o.txt	./txt/cord-026144-buctm04o.txt