The declining dependence of ski lift operators on natural snow conditions

2018 ◽  
Vol 24 (6) ◽  
pp. 662-676 ◽  
Author(s):  
Martin Falk ◽  
Xiang Lin
Keyword(s):  
Snow Depth ◽  
Time Series Data ◽  
Series Data ◽  
Adaptation Measures ◽  
Ticket Sales ◽  
Distributed Lag ◽  
Natural Snow ◽  
Snow Conditions ◽  
The Impact ◽  
Rolling Windows

This study tests for a structural shift in the relationship between revenues of ski lift operators and natural snow conditions. The analysis is based on time series data for the Swedish ski lift industry spanning from 1980 to 2017. Since 1970, snow depth in winter sport destinations has decreased markedly by about 5 cm per decade. Estimations based on the autoregressive distributed lag (ARDL) model show that revenues (in constant prices) of ski lift operators are significantly positively related to natural snow conditions, given the impact of relative prices and real GDP. However, ARDL estimations with rolling windows reveal that the sensitivity of revenues from ski lift ticket sales to variations in snow depth is declining over time. For the subsamples starting at the end of 1980s onward, revenues no longer significantly depend on natural snow depth. This is likely due to the implementation of adaptation measures such as investments in snowmaking facilities.

scholarly journals PENDUGAAN PARAMETER MODEl DISTRIBUTED LAG POLA POLINOMIAL MENGGUNAKAN METODE ALMON

2021 ◽  
Vol 15 (4) ◽  
pp. 761-772
Author(s):  
Fitria Virgantari ◽  
Wilda Rahayu
Keyword(s):  
Regression Model ◽  
Time Series Data ◽  
Operating Cost ◽  
Series Data ◽  
Operating Income ◽  
Distributed Lag ◽  
Distributed Lag Model ◽  
Lag Model ◽  
Forecast Time ◽  
The Impact

The distributed lag model is a regression  model that describes the relationship between the dependent variable of a given period and the independent variables of a certain or previous periods. The model can be used to determine the impact of the independent variable to dependent variables over time and forecast time series data for the next periods. There are two forms of distributed lag model that have been widely proposed in the estimation of distributed lag regression model. The first form  is proposed by Koyck and the second form by Almon. This paper aims to apply the Almon model to examine the effect of  the ratio of BOPO (Operating Cost and Operating Income) to the ROA (Return on Asset) of a government bank based on quarterly data, to estimate its parameters, to examine the feasibility of the model, and to predict the next quarter.  Results shows that distributed lag model is  = 10.110 - 0.078  + 0.015  + 0.026  – 0.045  with Yt is ROA, and Xt is the ratio BOPO  on the 1st quarter until the previous 3 quarters. The model is quite good according to the determination coefficient that is 0.75, no autocorrelation in the model, t test and F test are also significant. Based on the model, the value of ROA ratio next quarter predicted 4.63%. The decrease in profitability ROA ratio is due to an increase in interest expense while interest income can not compensate

scholarly journals Does government spending reduce poverty in Nigeria? Evidence from Auto-Regressive Distributed Lag Specification.

2020 ◽  
Vol 7 (2) ◽  
pp. 86
Author(s):  
Olufemi Samuel Adegboyo
Keyword(s):  
Government Spending ◽  
Time Series Data ◽  
Capital Expenditure ◽  
Transportation Cost ◽  
Series Data ◽  
Distributed Lag ◽  
Auto Regressive ◽  
The Government ◽  
Transfer Capital ◽  
The Impact

This paper analyses the impact of government spending on poverty reducing in Nigeria for the period 1981 to 2017 making use of annual time series data. The study employs the Auto-Regressive Distributed Lag (ARDL) approach. The result of the study revealed that economic service recurrent expenditure (ESRX), social and community recurrent expenditure (SCSRX), Transfer recurrent expenditure (TRX) reduces poverty while transfer capital expenditure (TCX) and administrative recurrent expenditure (ADRX) escalate poverty. Consequently, the study recommends that Government should embark on provision of food subsidies, subsidies farm input for farmers, subsidies transportation cost. Furthermore, government should endeavor to pay pensioners all their entitlements including gratuities as at when due without any delay, government should also be giving stipend to the unemployed and disabled, more poverty alleviating programs should be organize Also, the huge cost of maintaining the government should be reduced by reducing the numbers of political appointees to a reasonable size.

scholarly journals The Impact of Macroeconomic variables on the credit provided by Saudi Banks: تأثير المتغيرات الاقتصادية الكلية على التمويل المصرفي في المملكة العربية السعودية (دراسة قياسية شملت البيانات من 1970م – 2012م)

2019 ◽  
Vol 3 (3) ◽  
Author(s):  
Eyas Jafar Abdel Rahim
Keyword(s):  
Banking Sector ◽  
Time Series Data ◽  
Positive Impact ◽  
Government Expenditure ◽  
Series Data ◽  
Macroeconomic Variables ◽  
Distributed Lag ◽  
Bank Deposits ◽  
Long Run ◽  
The Impact

The study aimed to examine the impact of macroeconomic variables of the Saudi economy as in Gross Domestic Product (GDP), Government Expenditure (G), Economic Openness (OPE), Inflation Rate (CPI) and the Bank Deposits (DS) on the credit provided by Saudi banks (BF), on annual time series data between 1970-2012. To investigate this relationship, the study used Autoregressive Distributed Lag method (ARDL) to measure the long-run and short-run impact, At that the E-views 8.1 has been used for analyze the cointegration,the diagnostic, the reliability - stability tests, and the forecasting behavior of the model. The study found that (BF) is affected positively by (GDP) growth rate in the long-run. Also the (BF) has been affected negatively in the short and long-run by inflation rates (CPI) and government expenditure (G). Consequently the Contractionary Fiscal Policy in recent period will not lead to reduce the financial performance of Saudi banks, and the growth of (GDP) in the future will have positive impact on the financing capacity of the Saudi banking sector.

scholarly journals Responsiveness of Capital Market on the Output of Manufacturing Firms in Nigeria

2019 ◽  
Vol 6 (1) ◽  
pp. 17
Author(s):  
Madubuko Cyril Ubesie ◽  
Matthew Emeziem Ude
Keyword(s):  
Capital Market ◽  
Time Series Data ◽  
Stock Exchange ◽  
Manufacturing Firms ◽  
Series Data ◽  
Fair Trading ◽  
Distributed Lag ◽  
Ex Post ◽  
The Impact ◽  
Bound Test

Capital market provides the necessary lubricant that keeps turning the wheel of the economy. It does not only provide the funds required for investment but also efficiently allocates these funds to projects of best returns to investors. This study empirically examined the responsiveness of capital market on productivity (Output) of manufacturing firms in Nigeria (1990 – 2016). Specifically, the study examined the impact of Market capitalization, Total listed equities and All Share Index on the productivity (Output) of manufacturing firms in Nigeria. Annual time series data obtained from the Central Bank of Nigeria (CBN) statistical bulletin, 2016 edition was utilized. The study adopted the ex-post facto research design and employed the Autoregressive Distributed Lag (ARDL) bound test approach. The findings revealed that capital market indices of the Nigerian Stock Exchange (proxy by MCAP, TLE, and ASI) have long-run significant influence on the productivity of manufacturing firms in Nigeria. Based on these findings, it was recommended among others that there is need to restore confidence to the market by regulatory authorities through ensuring transparency and fair trading transaction and dealings in the stock exchange which in turn will help to improve economic growth in Nigeria; also that the private sector should be encouraged to invest in capital market to boost productivity (Output) and improve the growth of Nigerian economy.

IMPACT OF MONETARY POLICY TARGETS ON CAPITAL MARKET DEVELOPMENT IN NIGERIA

2021 ◽  
Vol 8 (1) ◽  
pp. 85-95
Author(s):  
Abdulkarim Musa ◽  
◽  
Uwaleke Uche ◽  
Nwala Nneka ◽  
◽  
...  
Keyword(s):  
Monetary Policy ◽  
Money Supply ◽  
Capital Market ◽  
Time Series Data ◽  
Market Development ◽  
Series Data ◽  
Distributed Lag ◽  
Long Run ◽  
Short Run ◽  
The Impact

This study empirically examines the impact of monetary policy targetson capital market development in Nigeria from 1986-2018. Time series data and econometric tools were used to test for the stationarity and causality effect. The Auto-Regressive Distributed Lag Model (ARDL) and Error Correction Model (ECM) techniques were used to examine the short-run and long-run impact and relationship between Monetary Policy and Capital Market Development in Nigeria. The study revealed that both in the long run and short run Exchange Rate (EXCHR), Inflation Rate (INFR), and Interest Rate in Nigeria (INTR)were negatively related to Capital Market Development (CAMKTD) in Nigeria and they were statistically insignificant in explaining changes in Capital Market Development (CAMKTD) in Nigeria. On the other hand, inthe long run, Money Supply was positively related to Capital Market Development (CAMKTD) in Nigeria and was statistically significant at a 5% level significant while Money Supply (M2) was positively related to Capital Market Development (CAMKTD) in Nigeria both in the long run and short-run and was statistically significant at 5% level of significance. Therefore, the study recommends that government should improve the efficiency and effectiveness of the money supply in Nigeria since it was statistically significant in determining the improvement of Capital Market Development (CAMKTD) in Nigeria.

scholarly journals Empirical Evidence for the Impact of Environmental Quality on Life Expectancy in African Countries

2021 ◽  
Vol 11 (29) ◽  
Author(s):  
Sisay Demissew Beyene ◽  
Balázs Kotosz
Keyword(s):  
Sustainable Development ◽  
Life Expectancy ◽  
Environmental Quality ◽  
Time Series Data ◽  
Series Data ◽  
African Countries ◽  
Environmental Performance Index ◽  
Distributed Lag ◽  
Improve Life Expectancy ◽  
The Impact

Background. Protecting the health of citizens is a central aim of sustainable development plans, due to the effect of health on social and economic development. However, studies show that environment-related diseases adversely affect the health status of a people, and this situation is worse for African countries. The Sustainable Development Goals (SDG) targets have included reducing environment-related deaths since 2015. However, there is a lack of empirical findings focused on the effects of environmental quality on life expectancy in Africa. Objectives. The present study examined the impact of environmental quality on life expectancy in 24 African countries. Methods. Time-series data ranging from 2000 to 2016 was used and the panel autoregressive distributed lag (ARDL)–dynamic fixed effect (DFE) model was employed to analyze the data. Results. The results confirmed that, in the long run, improvements in environmental quality significantly increased life expectancy in the studied African countries during the study period. A unit increment in environmental performance index (EPI) and ecosystem vitality (EV) increased the life expectancy of Africans by 0.137 and 0.1417 years, respectively. Conclusions. To the best of the authors' knowledge, this is the first empirical (econometric) study using a broad measurement (indicator) of environmental quality to investigate its impact on life expectancy in African countries. The study recommends that the introduction of environmentally friendly economies (like renewable energy, land, water, and waste management), legal, socio-economic, demographic, and technological measures are essential to reduce environmental pollution and improve life expectancy in Africa. Competing Interests. The authors declare no competing financial interests.

scholarly journals The Impact of FDI on Economic Development of Pakistan

2012 ◽  
Vol 3 (2) ◽  
pp. 59-68
Author(s):  
Muhammad Tahir Mahmood
Keyword(s):  
Economic Development ◽  
Time Series Data ◽  
Positive Impact ◽  
Series Data ◽  
Domestic Investment ◽  
Distributed Lag ◽  
Country Level ◽  
Autoregressive Distributed Lag ◽  
Ultimate Result ◽  
The Impact

The foreign direct investment has made its position better as a bundle of benefits during the last three decades at the global level. The ultimate result of its benefits for the recipient countries is often sought in term of economic development. Such results do not appear in the same fashion in all recipient economies and so provide the space to investigate this nexus at country level. This study is an endeavor to examine empirically the impact of FDI on economic development of Pakistan. For this purpose, the time series data covering the period (1971-2009) were used. For data analysis, the bound testing approach to co integration within the framework of the Autoregressive Distributed Lag (ARDL) was utilized. The findings of the study supported the hypothesis of positive impact of FDI on economic development of Pakistan. The results also endorsed the views that the FDI is more effective than that of domestic investment.

scholarly journals The Impact Of Human Capital On Nigeria's Economic Growth

2021 ◽  
Vol 17 (15) ◽  
Author(s):  
Yusufu Nigel Bachama ◽  
Aisha Adamu Hassan ◽  
Bello Ibrahim
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Time Series Data ◽  
Trade Openness ◽  
Health Sector ◽  
Series Data ◽  
Development Indicators ◽  
Distributed Lag ◽  
The Impact

Despite abundant evidence at microeconomic level, the role of human capital in promoting economic growth and development has not been well documented at the macroeconomic level – specifically in developing countries. This paper seeks to examine the role of human capital on economic growth in Nigeria using time series data covering the period from 1970-2019. The data are sourced from Central Bank of Nigeria (CBN) statistical bulletin and World Development Indicators of the World Bank. The data are analyzed using Autoregressive Distributed Lag model (ARDL). The study reveals that expenditure on health and education are found to be positively and significantly related with economic growth both in the short-run and long-run. However, labor negatively impact on economic growth and it was found to be significant. Again, trade openness and inflation are insignificant in explaining economic growth in this paper. Thus, the paper recommends that, Nigerian government should focus on improving the educational and health sector. Meaning that, huge amount of government budgetary allocation should be directed toward educational and health sector. So also, government should create more jobs opportunities (through skills acquisitions/ vocational training) to minimize the unemployment rate in the country.

scholarly journals Estimating the Impact of Human Capital Underutilization on the Productivity and Economic Growth in India

2021 ◽  
Author(s):  
Vijaya Kumar M ◽  
Balu B
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Time Series Data ◽  
Negative Relationship ◽  
Series Data ◽  
International Labor Organization ◽  
Distributed Lag ◽  
Integration Test ◽  
The Impact ◽  
Adf Test

Abstract This study investigated the effect of human capital underutilization on productivity and economic growth. It has used time-series data accessed from the International Labor Organization (ILO) and World Bank database. This paper estimated the relationship between the underutilization of human capital on productivity and economic growth by applying the econometric tests like Augmented Dickey-Fuller (ADF) Test, Johansen Integration Test, and the Autoregressive Distributed Lag (ARDL) model. The results revealed that in the long run human capital underutilization has a negative relationship on GDP and labor productivity and it does not in the short run. The study recommends that specific policy legislations in the Indian labor markets are required for addressing the problem of human capital underutilization and thereby accelerating the economic growth and productivity for the current and future generations.

scholarly journals Does government spending reduce poverty in Nigeria? Evidence from Auto-Regressive Distributed Lag Specification.

2020 ◽  
Vol 25 (1) ◽  
pp. 14
Author(s):  
Olufemi Samuel Adegboyo
Keyword(s):  
Government Spending ◽  
Time Series Data ◽  
Capital Expenditure ◽  
Transportation Cost ◽  
Series Data ◽  
Distributed Lag ◽  
Auto Regressive ◽  
The Government ◽  
Transfer Capital ◽  
The Impact

This paper analyses the impact of government spending on poverty reducing in Nigeria for the period 1981 to 2017 making use of annual time series data. The study employs the Auto-Regressive Distributed Lag (ARDL) approach. The result of the study revealed that economic service recurrent expenditure (ESRX), social and community recurrent expenditure (SCSRX), Transfer recurrent expenditure (TRX) reduces poverty while transfer capital expenditure (TCX) and administrative recurrent expenditure (ADRX) escalate poverty. Consequently, the study recommends that Government should embark on provision of food subsidies, subsidies farm input for farmers, subsidies transportation cost. Furthermore, government should endeavor to pay pensioners all their entitlements including gratuities as at when due without any delay, government should also be giving stipend to the unemployed and disabled, more poverty alleviating programs should be organize Also, the huge cost of maintaining the government should be reduced by reducing the numbers of political appointees to a reasonable size.

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