There really is no tool in Premiere Elements for removing this kind of distortion. (There is a tool for doing it with photos in Photoshop Elements, but I'm sure you don't want to do it frame by frame.) But maybe someone is aware of a third-party tool for doing this. (It's very difficult to remove this type of optical effect seamlessly. I'm not even aware of a tool in After Effects that does it!)
Thanks a lot for the fast answer. In the tool there is under effects fx --> skew (but this folder is empty)
Even if it was there, Skew would not be the effect to do what you need.
Ok Thanks a lot. So I should find a other posibility.
What computer operating system are you using? What version of Premiere Elements?
Given that there is no GoPro Fisheye removal offering in Premiere Elements Windows or Mac. But have you seen ways of doing this for GoPro Fisheye video
and then importing the file into Premiere Elements.
Also Photoshop CS6 allows you to work with video, and there appears to be a Fisheye Removal from GoPro
Please consider the above and let us know if any works for you.