Causality and Contagion in EMU Sovereign Debt Markets
AbstractThis article presents an estimate of the impact of low-cost airlines on Spanish tourism arriving from the principal EU-15 member states during the first decade of the 21st century by means of a multivariate analysis of tourist demand. The effects of low-cost companies (LCCs) on expenditure and on the number of tourists are separated. The expansion in low-cost airlines have had a positive and strong effect on the number of tourists but seems not to have influenced at all the aggregate expenditure made by them as the expenditure by tourist has decreased perhaps due to an increasing number of tourist with higher frugality or lesser income. This result could be regarded as a useful guide to policy makers when they subsidize LCCs.
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Bibliographic InfoPaper provided by Asociación Española de Economía y Finanzas Internacionales in its series Working Papers with number 14-04.
Length: 34 pages
Date of creation: Feb 2014
Date of revision:
Air Transport; Low Cost Airlines; Tourist demand;
Find related papers by JEL classification:
- D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
- F14 - International Economics - - Trade - - - Empirical Studies of Trade
- L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism
- L93 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Air Transportation
This paper has been announced in the following NEP Reports:
- NEP-ALL-2014-03-01 (All new papers)
- NEP-TRE-2014-03-01 (Transport Economics)
- NEP-TUR-2014-03-01 (Tourism Economics)
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