Download or read book Instrumental Variable Estimation of Tourism Demand written by Chung-ki Min and published by . This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Tourism demand is highly sensitive to economic fluctuations. If variables are subject to such time-specific effects, lagged variables in dynamic models can cause the OLS estimation to be biased. This study estimates tourism demand with controlling for time-specific effects by using instrumental variables. The empirical results show that the models of change rate variables produce significant and reliable estimates when they are estimated by GMM.
Download or read book The Advanced Econometrics of Tourism Demand written by Haiyan Song and published by Routledge. This book was released on 2008-12-09 with total page 234 pages. Available in PDF, EPUB and Kindle. Book excerpt: Tourism demand is the foundation on which all tourism-related business decisions ultimately rest. This book introduces students, researchers and practitioners to the modern developments in advanced econometric methodology within the context of tourism demand analysis and illustrates these developments with actual tourism applications.
Download or read book Tourism Demand Modelling and Forecasting written by Haiyan Song and published by Routledge. This book was released on 2012-08-21 with total page 183 pages. Available in PDF, EPUB and Kindle. Book excerpt: The phenomenal growth of both the world-wide tourism industry and academic interest in tourism over the last thirty years has generated great interest in tourism demand modelling and forecasting from both sectors. However, the tendency for researchers and practitioners engaged in quantitative causal tourism modelling and forecasting to run many regression equations and try to choose the 'best' model based on various parametric and non-parametric criteria has been widely criticised as failing to provide credible results. The aim of this book is to present the recent advances in econometric modelling methodology within the context of tourism demand analysis at a level that is accessible to non-specialists, and to illustrate these new developments with actual tourism applications. The book begins with an introduction to the fundamentals of tourism demand analysis, before addressing the problems of traditional tourism demand modelling and forecasting, i.e. data mining and spurious regression due to common trends in the time series. Three chapters explore the general-to-specific approach to tourism demand modelling and forecasting, including the use of autoregressive distributed lag processes, cointegration analysis and error correction models. The time varying parameter model together with the use of the Kalman filter as an estimation method is a useful tool for examining the effects of regime shifts on tourism demand elasticities: this is explored next. The panel data approach is introduced as a way of overcoming the problem of estimation and forecasting biases caused by insufficient time series data. The book concludes by evaluating the empirical forecasting performance of the various models and putting forward some general conclusions.
Download or read book Forecasting Tourism Demand written by Douglas Frechtling and published by Routledge. This book was released on 2012-05-23 with total page 279 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'Forecasting tourism demand' is a text that no tourism professional can afford to be without. The tourism industry has experienced an overwhelming boom over recent years, and being able to predict future trends as accurately as possible is vital in the struggle to stay one step ahead of the competition. Building on the success of 'Practical Tourism Forecasting' this text looks at 13 methods of forecasting and with a user friendly style, 'Forecasting Tourism Demand' guides the reader through each method, highlighting its strengths and weaknesses and explaining how it can be applied to the tourism industry. 'Forecasting Tourism Demand' employs charts and tables to explain how to: * plan a forecasting project * analyse time series and other information * select the appropriate forecasting model * use the model for forecasting and evaluate its results Ideal for marketing managers and strategic planners in business, transportation planners and economic policy makers in government who must project demand for their products among tourists. Executives who rely on forecasts prepared by others will find it invaluable in assisting them to evaluate the validity and reliability of predictions and forecasts. Those engaged in analysing business trends will find it useful in surveying the future of what has been called the largest industry in the world.
Download or read book The Advanced Econometrics of Tourism Demand written by Haiyan Song and published by Routledge. This book was released on 2008-12-09 with total page 291 pages. Available in PDF, EPUB and Kindle. Book excerpt: Tourism demand is the foundation on which all tourism-related business decisions ultimately rest. Governments and companies such as airlines, tour operators, hotels, cruise ship lines, and recreation facility providers are interested in the demand for their products by tourists. The success of many businesses depends largely or totally on the state
Download or read book The Advanced Econometrics of Tourism Demand written by H. Song and published by . This book was released on 2009 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Econometric Modelling and Forecasting of Tourism Demand written by Doris Chenguang Wu and published by Taylor & Francis. This book was released on 2022-10-27 with total page 327 pages. Available in PDF, EPUB and Kindle. Book excerpt: This insightful and timely volume provides a succinct, expert-led introduction to the latest developments in advanced econometric methodologies in the context of tourism demand modelling and forecasting. Written by a plethora of worldwide experts on this topic, this book offers a comprehensive approach to tourism econometrics. Accurate demand forecasts are crucial to decision-making in the tourism industry and this book provides real-life tourism applications and the corresponding R code alongside theoretical foundations, in order to enhance understanding and practice amongst its readers. The methodologies introduced include general to specific modelling, cointegration, vector autoregression, time-varying parameter modelling, spatiotemporal econometric models, mixed-frequency forecasting, hybrid forecasting models, forecasting combination techniques, density forecasting, judgemental forecasting, scenario forecasting under crisis, and web-based tourism forecasting. Embellished with insightful figures and tables throughout, this book is an invaluable resource for those using advanced econometric methodologies in their studies and research, including both undergraduate and postgraduate students, researchers, and practitioners.
Download or read book Essays on Applied Econometrics written by Sang Young Jei and published by . This book was released on 2008 with total page 93 pages. Available in PDF, EPUB and Kindle. Book excerpt: My dissertation applies econometric methods to analyze the optimal hedge ratios, basis variability, and dynamic tourism demand. In the first essay, using daily data of the spot and futures returns of corn and soybeans, I find asymmetric and flexible density specifications help increase the goodness-of-fit of the estimated models, but do not guarantee higher hedging performance. I also find that there is a close link between the variance of hedge ratios and hedging effectiveness. In the second essay, I specify and estimate time-varying spatial models which describe significant factors affecting corn and soybean basis for the period January 1996 to December 2006. Understanding factors affecting crop basis patterns helps agribusiness persons and producers make better strategies. Based on the spatial analysis, I find an increase in lagged basis, futures liquidity, differenced cash prices and seasonality strengthen the grain basis, while an increase transportation costs weaken the grain basis. Moreover, as the grain basis theoretically varies based on spatial competition between other market points, I find there exist significant spatial effects. I find that accounting for spatial serial correlation between market locations explains a majority of the basis variation. In the third essay, I extend the existing literature on dynamic international tourism demand by segregating trip purposes and by introducing a new measurement of travel costs and their determinants for the U.S. Based on the panel OLS and the GMM-IV estimates of the dynamic tourism demand model, I find that the new measurement of travel costs has improved model accuracy. Second, I find tourism demand elasticities that are different across trip purpose. The later finding is even though the large shift in the coefficient for the lagged dependent variables in the GMM-IV estimator indicates the potential bias in the OLS estimator due to the country-specific fixed effects, the result of the GMM-IV estimator as well as the OLS estimator clearly showed that the results strongly support the typical assumption that business travelers have more inelastic demand than pleasure travelers.
Download or read book Handbook Of Tourism Economics Analysis New Applications And Case Studies written by Clement A Tisdell and published by World Scientific. This book was released on 2013-03-08 with total page 1001 pages. Available in PDF, EPUB and Kindle. Book excerpt: Handbook of Tourism Economics: Analysis, New Applications and Case Studies provides an up-to-date, concise and readable coverage of the most important topics in tourism economics. It pays attention to relevant traditional topics in tourism economics as well as exciting emerging topics in this field — topics which are expected to be of continuing importance. In doing this, it takes account of advances in economic thought, analysis and applied methods.Contributions provide applications of economic analysis to tourism policy and constructive assessment of contemporary thought about tourism economics. The handbook includes several in-depth case studies such as the contribution of tourism to economic development in selected countries including China, India, Japan and Australia, Portugal and Fiji. Coming from diverse countries (both industrialised and developing) and established in the field of tourism economics, travel and management, many of the contributors have been consultants to governments, private organisations, and international bodies, including the UN World Tourism Organisation, the OECD and UNEP. Experts contributing to this volume include the President of the International Association of Tourism Economics, as well as its Secretary-General, the Secretary-General of the Tourism Research Centre (Association of Tourism Research Institutes), the Founder-Fellow of the International Academy for the Study of Tourism and the former Director of the UK's Centre for Social and Economic Research on the Global Environment (CSERGE).
Download or read book The Economics of Small Island Tourism written by Riaz Shareef and published by Edward Elgar Publishing. This book was released on 2008-01-01 with total page 349 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study forms an entirely new area of research on Small Island Tourism Economies (SITEs). It addresses the importance of uncertainty in monthly international tourist arrivals and country risk indicators to the macroeconomy. Conditional volatilities are estimated for international tourist arrivals, and an economic interpretation from the estimated results is provided. In achieving these two objectives, this work presents an extensive assessment of the important characteristics and the impact of tourism in SITEs in relation to their gross domestic product, balance of payments, employment and foreign direct investment, among other factors. This book is unique in giving emphasis to macroeconomic implications rather than an industry focus. The Economics of Small Island Tourism will appeal to academics at the undergraduate and postgraduate levels involved in environmental and tourism management as well as tourism economics.
Download or read book Regional Science Perspectives on Tourism and Hospitality written by Mauro Ferrante and published by Springer Nature. This book was released on 2020-12-16 with total page 510 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book approaches the tourism and hospitality industry from a regional science perspective. By analyzing the spatial context of tourist travels, the hospitality sector, and the regional impacts of tourist activities, it demonstrates the value of the regional science paradigm for understanding the dynamics and effects of tourism and hospitality-related phenomena. Written by leading regional science scholars from various countries as well as professionals from organizations such as OECD and AirBnB, the contributions address topics such as migration, new types of accommodation, segmentation of tourism demand, and the potential use of tracking technologies in tourism research. The content is divided into five parts, the first of which analyzes spatial effects on the development of firms in the tourism industry, while the second approaches temporal and spatial variability in tourism through analytical regional science tools. The broader economic and social impacts of tourism are addressed in part three. Part four assesses specific tourism segments and tourist behaviors, while part five discusses environmental aspects and tourism destination policies. The book will appeal to scholars of regional and spatial science and tourism, as well as tourism specialists and policymakers interested in developing science and evidence-based tourism policies.
Download or read book Econometric Analysis of Regional Economy written by Sachiyo Asahi and published by Springer Nature. This book was released on with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Assessing the Economic Impact of Tourism written by Samuel Meng and published by Springer. This book was released on 2016-12-08 with total page 367 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book employs a computable general equilibrium (CGE) model – a widely used economic model which uses actual data to provide economic analysis and policy assessment – and applies it to economic data on Singapore’s tourism industry. The authors set out to demonstrate how a novice modeller can acquire the necessary skills and knowledge to successfully apply general equilibrium models to tourism studies. The chapters explain how to build a computable general equilibrium model for tourism, how to conduct simulation and, most importantly, how to analyse modelling results. This applied study acts as a modelling book at both introductory and intermediate levels, specifically targeting students and researchers who are interested in and wish to learn computable general equilibrium modelling. The authors offer insightful analysis of Singapore’s tourism industry and provide both students and researchers with a guide on how to apply general equilibrium models to actual economic data and draw accurate conclusions.
Download or read book Tourism Economics written by Álvaro Matias and published by Springer Science & Business Media. This book was released on 2011-07-28 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: The assessment of local, regional or national impacts of an influx of tourists – of different kind and origin – has in recent years become a new challenge for economics research in the tourism sector. There is a clear need to develop solid methodologies through which the socio-economic impacts of tourism can be assessed. Tourism impact assessment – as a systematic approach to the estimation of socio-economic effects of tourism on relevant parts of the economy – has become a timely response to the need for appropriate information for stakeholders, both public and private. The present volume brings together a set of recent impact studies – of both a theoretical-methodological and an applied policy-oriented nature – , which have been selected on the basis of their originality or novel contribution to the research in this field.
Download or read book Panel Data Econometrics written by Badi H. Baltagi and published by Emerald Group Publishing. This book was released on 2006-04-01 with total page 399 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume includes some of the papers presented at the 11th International Conference on Panel Data, Texas, June 2004, and other solicited papers that passed the refereeing process and includes such topics as dynamic panel data estimation, non-linear panel data methods and the phenomenal growth in non-stationary panel data econometrics.
Download or read book Quantitative Methods in Tourism Economics written by Álvaro Matias and published by Springer Science & Business Media. This book was released on 2012-12-13 with total page 346 pages. Available in PDF, EPUB and Kindle. Book excerpt: Tourism economics is partly based on established principles from the economics discipline, but it also incorporates elements from sociology, psychology, organization theory and ecology. It has over the years turned into an appealing multi-disciplinary oriented approach to the understanding of the impacts of leisure time in a modern society, including cultural heritage, sustainable quality of life, and industrial organization of the hospitality industry. The increasing dynamics in the tourist industry and its worldwide effects will continue to attract the attention of both the research and the policy sector in the years to come. Rather than speculating on non-observed facts, there is a clear need for evidence-based research in order to map out the complex dynamics of the tourist industry. The present volume comprises novel studies – mainly of a quantitative-analytical nature – on the supply, demand and contextual aspects of modern tourism. It contains a sound mix of theory, methodology, policy and case studies on various tourism issues in different parts of the world.
Download or read book Cutting Edge Research Methods in Hospitality and Tourism written by Fevzi Okumus and published by Emerald Group Publishing. This book was released on 2023-01-25 with total page 167 pages. Available in PDF, EPUB and Kindle. Book excerpt: Cutting Edge Research Methods in Hospitality and Tourism sits at the forefront of fast-paced developments in the tourism and hospitality industry, highlighting the importance of applied and pure research to address the theoretical and practical problems and gaps.
