In an empirical gravity model, this can be taken into account by adding multilateral resistance terms.
Lastly, in line with the recent work by Anderson and van Wincoop (2003), the equation includes "multilateral (price) resistance terms", which are proxied by dummy variables.
As stated earlier, Anderson and van Wincoop (2003) derived a gravity equation specification using a model that includes the presence of "multilateral (price) resistant terms", which was approximated using fixed effects by country pairs.15 Furthermore, Baier and Bergstrand (2007) conclude that, for the analysis of trade agreements, the fixed effects approximation is best.
But his administration must also juggle short-term domestic self-interest with long-term, multilateral initiatives to police the global financial sector.
To help prevent the deaths of future asylum seekers, we need to commit to the long-term, multilateral and difficult paths of engagement and dialogue.
But rather committing Britain to long-term multilateral nuclear disarmament, the government's motion – that we retain a nuclear arsenal for "as long as the global security situation demands" - is vague enough to mean "indefinitely".
We have also raised the alarm, crucially, with regard to the Central African Republic, mobilized the international community in favor of stability and security in the Sahel, and worked on long-term multilateral issues like climate change and abolition of the death penalty.
There are many areas, however, like narcotics and environment where people are better served in terms of multilateral involvement.
From North Korea to Iran, China is a pivotal power in terms of multilateral measures to limit nuclear proliferation.
The Europeans, accustomed by their history and geography to think in terms of multilateral arrangements, have always placed a greater premium on international organizations.
