Estimation of outbound Italian tourism demand: a monthly dynamic EC-LAIDS model
Issue Date
2009-09-01Subjects
almost idealdemand system (aids)
error correction
forecasting
Italian tourism demand
monthly frequency
Metadata
Show full item recordAbstract
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):547Publisher
IP PublishingJournal
Tourism EconomicsAdditional Links
http://openurl.ingenta.com/content/xref?genre=article&issn=1354-8166&volume=15&issue=3&spage=547Type
ArticleLanguage
enISSN
13548166ae974a485f413a2113503eed53cd6c53
10.5367/000000009789036594