Asymmetric Business Cycle Effects and Tourism Demand Cycles

2017 ◽  
Vol 57 (4) ◽  
pp. 419-436 ◽  
Author(s):  
Robertico Croes ◽  
Jorge Ridderstaat ◽  
Manuel Rivera
Keyword(s):  
Business Cycles ◽  
Business Cycle ◽  
Tourism Development ◽  
Output Gap ◽  
Tourism Demand ◽  
Policy Makers ◽  
Individual Variables ◽  
The Relationship ◽  
Country Specific

This study examines the relationship between business and tourism demand cycles in Aruba and Barbados during 1970–2015. The study uses a 2SLS method and is grounded in the output gap approach. The results indicate that business cycles explain nearly 49% of tourism demand flows to Aruba and nearly 91% to Barbados. Thus, the study sheds light on the nature of the relationship between business and tourism demand cycles, which could help managers and policy makers refine their strategies to further tourism development. Procyclical and asymmetric movements characterized the long-term co-movements between the business cycles and tourism demand variables. However, individual variables were stationary, hence transitory in nature, and therefore mainly driven by demand motivations. The asymmetric fluctuations were defined by positive and negative gaps, with the former displaying stronger duration effects compared to the latter. The relationship between the two variables seems country specific in nature.

scholarly journals Households’ Net Financial Wealth as a Determinant of Tourism Demand Cycles: Evidence from US Travel to Selected Caribbean Destinations

2020 ◽  
pp. 004728752092517
Author(s):  
Jorge Ridderstaat
Keyword(s):  
Tourism Demand ◽  
Data Decomposition ◽  
Policy Makers ◽  
Consumer Decisions ◽  
Financial Wealth ◽  
Financial Position ◽  
Unit Root Testing ◽  
Key Driver ◽  
The Relationship ◽  
Country Specific

Developments in households’ net financial wealth may be a better determinant of tourism demand flows than income. This study investigates the effect of cycles of US households’ net financial position on US tourism demand flows for three destinations (Aruba, Barbados, and Jamaica). The literature has conventionally considered income as a key driver of tourism demand, despite the imperfections of several applied proxies. However, there could be a disconnect in the relationship between income and tourism demand because of the net financial position of households. The study contributes to the literature by introducing net financial wealth as a determinant of tourism demand, by heterogenizing consumer decisions, and by providing theoretical propositions. The methodology includes data decomposition, unit root testing, and application of logistic regression. The results show that the relationship is household-, cyle-, and country-specific across time and probability dimensions, which could assist policy makers in better managing developments in destinations.

OP48 Nursing Requirements In Long-Term Care: A Health Technology Assessment

2019 ◽  
Vol 35 (S1) ◽  
pp. 11-12
Author(s):  
Paula Corabian ◽  
Charles Yan ◽  
Susan Armijo-Olivo ◽  
Bing Guo
Keyword(s):  
Nursing Care ◽  
Nursing Staff ◽  
Real World ◽  
Research Evidence ◽  
Long Term Care ◽  
Staff Time ◽  
Term Care ◽  
Policy Makers ◽  
The Relationship

IntroductionThe objectives of this study were to systematically review published research on the relationship between nursing staff coverage, care hours, and quality of care (QoC) in long-term care (LTC) facilities; and to conduct a real world evidence (RWE) analysis using Alberta real world data (RWD) to inform policy makers on whether any amendments could be made to current regulations.MethodsA systematic review (SR) of research evidence published between January 2000 and May 2018 on the relationship between nursing staff coverage, care hours, and QoC in LTC facilities was conducted. Panel data regressions using available RWD from Alberta, Canada, were performed to assess associations between nursing care hours and LTC outcomes. Outcomes of interest included quality indicators related to resident outcomes, hospital admissions, emergency room visits and family satisfaction. Nursing care hours considered in SR and RWE analysis included those provided by registered nurses (RNs) and licensed practical nurses (LPNs).ResultsThe SR found inconsistent and poor quality evidence relevant to the questions of interest, indicating a great uncertainty about the association between nursing staff time and type of coverage and QoC. Although some positive indications were suggested, major weaknesses of reviewed studies limited interpretation of SR results. RWE analysis found that impact of care hours on LTC outcomes was heterogeneous, dependent on outcome measurements. There was evidence that total staff, RN, and LPN hours had positive effects on some resident outcomes and magnitude of effect differed for different nursing staff.ConclusionsNo definitive conclusion could be drawn on whether changing nursing staff time or nursing staff coverage models would affect residents’ outcomes based on the research evidence gathered in the SR. RWE analysis helped to fill a gap in the available published literature and allowed policy makers to better understand the impact of revising current regulations based on actual outcomes.

Financial Inclusion and CO2 Emissions in Asia: Implications for Environmental Sustainability

2021 ◽  
Author(s):  
Shahzad Hussain ◽  
Tanveer Ahmad ◽  
Syed Jawad Hussain Shahzad
Keyword(s):  
Carbon Emissions ◽  
Environmental Sustainability ◽  
Principal Component ◽  
Financial Inclusion ◽  
Causality Test ◽  
Policy Makers ◽  
Long Term Impact ◽  
Sustainable Economic Growth ◽  
The Relationship

Abstract We examine the relationship between financial inclusion and carbon emissions. For this purpose, we develop a composite indicator of financial inclusion based on a broad set of attributes through principal component analysis (PCA) for 26 countries in the Asia region. Our robust panel regression analysis reveals a significant positive long-term impact of financial inclusion on carbon emissions. The pairwise causality test reveals unidirectional long-term causality running from financial inclusion to carbon emissions. The study suggests that policy makers may design policies that integrate accessible financial systems into climate change adaptation strategies in order to neutralize the side effect of financial inclusion deteriorating environmental quality and inclusive sustainable economic growth. JEL ClassificationO16; O44, Q54

scholarly journals Technical Aspects of Web Photography as a Medium of Tourism Development

2021 ◽  
Vol 15 (4) ◽  
pp. 467-474
Author(s):  
Petra Ptiček ◽  
Ivana Žganjar ◽  
Miroslav Mikota ◽  
Mile Matijević
Keyword(s):  
New Media ◽  
Web Sites ◽  
Tourism Development ◽  
Web Pages ◽  
Sustainable Tourism Development ◽  
National Strategic Plan ◽  
Information And Communication ◽  
Crucial Information ◽  
The Relationship

Information and communication technology is an important factor for national, regional and local sustainable tourism development according to the long-term Croatian national strategic plan. New forms of information, such as web sites; new media, materials, political and social change, all influence tourists’ decisions when choosing specific destinations. The aim of this research is to determine, based on the analysis of the tourism media campaign, the relationship between new communication trends and the application of photography as a medium that influences the experience when choosing a destination and the importance of crucial information factors on web pages based on their technical and visual characteristics.

The “Hallyu” phenomenon: Utilizing tourism destination as product placement in K-POP culture

2019 ◽  
Vol 26 (4) ◽  
pp. 719-728 ◽  
Author(s):  
Joo Hwan Seo ◽  
Bumsoo Kim
Keyword(s):  
Marketing Strategy ◽  
Autoregressive Model ◽  
Pop Culture ◽  
Product Placement ◽  
Tourism Industry ◽  
Tourism Demand ◽  
Policy Makers ◽  
The Past ◽  
Joint Plan

This article examines the effect of the Korean pop culture phenomenon also known as “Hallyu” on the inbound tourism demand of Korea. “Hallyu” products are exported throughout Asia and have been growing over the past decade. Using a Bayesian autoregressive model, we empirically investigate the product placement effects of “Hallyu” explained by the parasocial theory of previous literature utilizing inbound tourist data and show that “Hallyu” effects are also present in the overall tourism industry of Korea. The study illustrates that product placement can be a powerful marketing strategy in the tourism industry and highlights its importance for policy makers in creating a comprehensive joint plan for the development of long-term tourism.

scholarly journals Long-Term Exposure to Ambient PM2.5 and Increased Risk of CKD Prevalence in China

2020 ◽  
Vol 32 (2) ◽  
pp. 448-458 ◽  
Author(s):  
Guoxing Li ◽  
Jing Huang ◽  
Jinwei Wang ◽  
Minghui Zhao ◽  
Yang Liu ◽  
...  
Keyword(s):  
Rural Areas ◽  
Urban Areas ◽  
Fine Particulate Matter ◽  
Prevalence Odds Ratio ◽  
Policy Makers ◽  
Spatiotemporal Model ◽  
Increased Risk ◽  
Evidence For Policy ◽  
The Relationship

BackgroundFine particulate matter (PM2.5) is an important environmental risk factor for cardiopulmonary diseases. However, the association between PM2.5 and risk of CKD remains under-recognized, especially in regions with high levels of PM2.5, such as China.MethodsTo explore the association between long-term exposure to ambient PM2.5 and CKD prevalence in China, we used data from the China National Survey of CKD, which included a representative sample of 47,204 adults. We estimated annual exposure to PM2.5 before the survey date at each participant’s address, using a validated, satellite-based, spatiotemporal model with a 10 km×10 km resolution. Participants with eGFR <60 ml/min per 1.73 m2 or albuminuria were defined as having CKD. We used a logistic regression model to estimate the association and analyzed the influence of potential modifiers.ResultsThe 2-year mean PM2.5 concentration was 57.4 μg/m3, with a range from 31.3 to 87.5 μg/m3. An increase of 10 μg/m3 in PM2.5 was positively associated with CKD prevalence (odds ratio [OR], 1.28; 95% confidence interval [CI], 1.22 to 1.35) and albuminuria (OR, 1.39; 95% CI, 1.32 to 1.47). Effect modification indicated these associations were significantly stronger in urban areas compared with rural areas, in males compared with females, in participants aged <65 years compared with participants aged ≥65 years, and in participants without comorbid diseases compared with those with comorbidities.ConclusionsThese findings regarding the relationship between long-term exposure to high ambient PM2.5 levels and CKD in the general Chinese population provide important evidence for policy makers and public health practices to reduce the CKD risk posed by this pollutant.

scholarly journals Business Cycles in International Historical Perspective

1999 ◽  
Vol 13 (2) ◽  
pp. 45-68 ◽  
Author(s):  
Susanto Basu ◽  
Alan M Taylor
Keyword(s):  
Labor Market ◽  
Panel Data ◽  
Business Cycles ◽  
Business Cycle ◽  
Cross Section ◽  
Historical Perspective ◽  
International Markets ◽  
Price Adjustment ◽  
Structural Aspects ◽  
Country Specific

This paper examines business cycles theoretically and empirically, with a quantitative study based on data for a cross section of countries. Theoretical concerns indicate that the properties of business cycle models depend not only on important structural aspects of the model, such as money neutrality, labor market structure, and price adjustment, but also on the closure of the model in international markets. Econometric considerations suggest that panel data can provide more information about the country-specific versus universal features of cycles. The authors review business cycle properties in a sample of over a dozen counties in light of these issues.

Have UK and Eurozone Business Cycles Become More Correlated?

2002 ◽  
Vol 182 ◽  
pp. 58-71 ◽  
Author(s):  
Michael Massmann ◽  
James Mitchell
Keyword(s):  
Business Cycles ◽  
Business Cycle ◽  
Industrial Production ◽  
Production Data ◽  
Alternative Measures ◽  
The Business Cycle ◽  
The Uk ◽  
The Relationship ◽  
Historical Levels ◽  
Sustained Increase

Recent estimates suggest that the UK business cycle is closer to the Eurozone business cycle than it was in the early 1990s. This paper investigates whether this phenomenon has been accompanied by increased correlation between UK and Eurozone business cycles. Considering a range of alternative measures of the business cycle we find, using 40 years of monthly industrial production data, no clear evidence for a sustained increase in correlation between UK and Eurozone business cycles. Instead, in the 1990s, the correlation between UK and Eurozone business cycles has been volatile relative to historical levels. It is only recently, i.e. since 1997, that the UK has become more correlated with the Eurozone, although the level of correlation is lower than against non-Eurozone countries. Importantly, the strength of these relationships is sensitive to how the business cycle is measured. Care should therefore be exercised when using business cycles estimates to test the relationship between UK and Eurozone business cycles.

scholarly journals Residents’ Attitudes toward Impacts of Tourism: A Case Study of Langkawi, Malaysia

2020 ◽  
Author(s):  
Nurhazani Mohd. Shariff ◽  
Shaharuddin Tahir
Keyword(s):  
Sustainable Tourism ◽  
Tourism Development ◽  
Policy Makers ◽  
Personal Lives ◽  
Sustainable Tourism Development ◽  
Residents Attitudes ◽  
Positive Impacts

This paper presents findings from a study that was undertaken to investigate residents’ attitudes toward the impacts of tourism in Langkawi Island, Malaysia. In order to gain reliable results for the use of Langkawi policy makers and tourism planners, a standardized instrument for measuring residents’ attitude was developed and used in the study. The findings revealed that residents tend to perceive impacts that benefit them as positive impacts of tourism. The findings also indicated that residents tend to perceive impacts of tourism, either positively or negatively depending on how much they would affect their personal lives. The more dependent they were on the positive impacts of tourism, the more supportive they were toward tourism development. Thus, the findings do not support Doxey’s Irridex Model. Finally, the study suggested that for a long-term purpose of achieving sustainable tourism development, Langkawi tourism planners and policy makers should conduct several campaigns and tourism workshops for the residents. Accordingly, this would gain residents support for tourism development on the island.  

scholarly journals Common Trade Exposure and Business Cycle Comovement

2020 ◽  
Vol 2020 (1306) ◽  
pp. 1-32
Author(s):  
Oscar Avila-Montealegre ◽  
◽  
Carter Mix ◽  
Keyword(s):  
Business Cycles ◽  
Business Cycle ◽  
Bilateral Trade ◽  
Empirical Literature ◽  
Shock Transmission ◽  
Productivity Shock ◽  
Business Cycle Model ◽  
Common Trade ◽  
The Relationship ◽  
Real Business Cycle Model

A large empirical literature has shown that countries that trade more with each other have more correlated business cycles. We show that previous estimates of this relationship are biased upward because they ignore common trade exposure to other countries. When we account for common trade exposure to foreign business cycles, we find that (1) the effect of bilateral trade on business cycle comovement falls by roughly 25 percent and (2) common exposure is a significant driver of business cycle comovement. A standard international real business cycle model is qualitatively consistent with these facts but fails to reproduce their magnitudes. Past studies have used models that allow for productivity shock transmission through trade to strengthen the relationship between trade and comovement. We find that productivity shock transmission increases business cycle comovement largely because of a country-pair's common trade exposure to other countries rather than because of bilateral trade. When we allow for stronger transmission between small open economies than other country-pairs, comovement increases both from bilateral trade and common exposure, similar to the data.

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