This paper constructs and estimates the demand for international tourism for the Italian Province of Sassari. The historical sample period under estimation is from 1972 to 1995. Three dynamic models are estimated at monthly, annual and quarterly data frequencies. Similarities and differences are explored amongst the three models. Some of the recently developed econometric techniques are used. A “pre-modelling” data analysis is undertaken for the economic series of interest. By adopting the LSE "general-to-specific" methodology, dynamic estimations are run. A full range of diagnostic tests is provided. Short and long run income elasticities, negativity and substitutability are tested on the light of economic theory. Evidence has been found that the monthly and quarterly models present homogenous results in terms of seasonal and long run unit roots. Annual data have shown different and perhaps misleading results.
Monthly, Annual and Quarterly Frequencies: a Comparison of Models for Tourism in Sardinia / Pulina, Manuela; O'Brian, R. J.. - 0206:(2002), pp. 1-21.
Monthly, Annual and Quarterly Frequencies: a Comparison of Models for Tourism in Sardinia
PULINA, Manuela;
2002-01-01
Abstract
This paper constructs and estimates the demand for international tourism for the Italian Province of Sassari. The historical sample period under estimation is from 1972 to 1995. Three dynamic models are estimated at monthly, annual and quarterly data frequencies. Similarities and differences are explored amongst the three models. Some of the recently developed econometric techniques are used. A “pre-modelling” data analysis is undertaken for the economic series of interest. By adopting the LSE "general-to-specific" methodology, dynamic estimations are run. A full range of diagnostic tests is provided. Short and long run income elasticities, negativity and substitutability are tested on the light of economic theory. Evidence has been found that the monthly and quarterly models present homogenous results in terms of seasonal and long run unit roots. Annual data have shown different and perhaps misleading results.I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.