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    Estimation of outbound Italian tourism demand: a monthly dynamic EC-LAIDS model

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    Authors
    Cortés-Jiménez, Isabel
    Durbarry, Ramesh
    Pulina, Manuela
    Issue Date
    2009-09-01
    Subjects
    almost ideal
    demand system (aids)
    error correction
    forecasting
    Italian tourism demand
    monthly frequency
    
    Metadata
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    Abstract
    An almost ideal demand system with monthly frequency, in both long-run and dynamic forms, is used to quantify the responsiveness of Italian tourism demand to changes in relative prices, exchange rates, expenditure and unexpected one-off events in four main European destinations. Short-term elasticities, which are crucial for policies regarding own price, as well as cross prices and expenditure elasticities are derived from the dynamic model. It is also found that the dynamic model outperforms the long-run model in forecasting accuracy. This paper provides useful information for policymakers to maintain high market shares of Italian tourism demand.
    Citation
    Cortés-Jiménez, I., Durbarry, R., Pulina, M. (2009) 'Estimation of outbound Italian tourism demand: a monthly dynamic EC-LAIDS model'. Tourism Economics 15 (3):547
    Publisher
    IP Publishing
    Journal
    Tourism Economics
    URI
    http://hdl.handle.net/10547/594611
    DOI
    10.5367/000000009789036594
    Additional Links
    http://openurl.ingenta.com/content/xref?genre=article&issn=1354-8166&volume=15&issue=3&spage=547
    Type
    Article
    Language
    en
    ISSN
    13548166
    ae974a485f413a2113503eed53cd6c53
    10.5367/000000009789036594
    Scopus Count
    Collections
    INTOUR Institute for Tourism Research

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