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International traveling and trade: further evidence for the case of Spanish wine based on fractional VAR specifications

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  • Gil-Alana, Luis A.
  • Fischer, Christian

Abstract

This paper deals with the relationship between international travelling and trade. For this purpose we focus on a particular case study: the connection between the Spanish wine exports to Germany and the German travellers to Spain. Unlike previous studies we use a methodology based on fractional vector autoregressive models, which permits us to compute the impulse responses in a similar way as in the standard VAR case. The results show that the orders of integration of the two series are constrained between 0 and 1, being higher for the arrivals series than for the exports. The impulse response analysis reveals that an increase in travelling produces a positive initial impact on trade though it tends to disappear in the long run.

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File URL: http://purl.umn.edu/7859
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Bibliographic Info

Paper provided by European Association of Agricultural Economists in its series 105th Seminar, March 8-10, 2007, Bologna, Italy with number 7859.

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Date of creation: 2007
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Handle: RePEc:ags:eaa105:7859

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Related research

Keywords: International trade; Multivariate models; Fractional VAR; Tourism.; International Relations/Trade;

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  19. Gil-Alana, L. A. & Robinson, P. M., 1997. "Testing of unit root and other nonstationary hypotheses in macroeconomic time series," Journal of Econometrics, Elsevier, vol. 80(2), pages 241-268, October.
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  23. Gil-Alana, Luis A., 2002. "Seasonal long memory in the aggregate output," Economics Letters, Elsevier, vol. 74(3), pages 333-337, February.
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