|
| Gil-Alana, Luis A.; Fischer, Christian. |
| This paper deals with the relationship between international travelling and trade. For this purpose we focus on a particular case study: the connection between the Spanish wine exports to Germany and the German travellers to Spain. Unlike previous studies we use a methodology based on fractional vector autoregressive models, which permits us to compute the impulse responses in a similar way as in the standard VAR case. The results show that the orders of integration of the two series are constrained between 0 and 1, being higher for the arrivals series than for the exports. The impulse response analysis reveals that an increase in travelling produces a positive initial impact on trade though it tends to disappear in the long run. |
| Tipo: Conference Paper or Presentation |
Palavras-chave: International trade; Multivariate models; Fractional VAR; Tourism.; International Relations/Trade. |
| Ano: 2007 |
URL: http://purl.umn.edu/7859 |
