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The paper deals with the issues of gravity models applied in the fi eld of trade fl ow analysis. Applied variables, assumptions of their impacts, problems of gravity equations and their resolving (namely the endogeneity problem, the heterogeneity problem, and the identifi cation problem) are defi ned in this paper. The paper provides a detailed overview of selected gravity model publications in scientifi c papers with an impact factor since 2000. According to the document analysis, it is clear that panel data are the most commonly used type of data in the 21st century. Fixed effects models are recommended. The choice of variables depends on the subject being examined and on the aim of the analysis. Correct model specifi cation and inclusion of relevant variables are highly important. The results were elaborated as part of the research project IGA 20121050 “Spatial regional market integration with agricultural raw materials”.

Gravity Model of International Trade, Its Variables, Assumptions, Problems and Applications