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Persistence in Airline Accidents

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Author Info
Carlos Pestana Barros
João Ricardo Faria
Luis A. Gil-Alana
Abstract

This paper analyses airline accident data from 1927-2006, through fractional integration. It is shown that airline accidents are persistent and (fractionally) cointegrated with airline traffic. There exists a negative relation between air accidents and airline traffic, with the effect of the shocks to that relationship disappearing in the long run. Policy implications are derived for countering accident events.

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File URL: http://pascal.iseg.utl.pt/~depeco/wp/wp182008.pdf
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Publisher Info
Paper provided by Department of Economics at the School of Economics and Management (ISEG), Technical University of Lisbon. in its series Working Papers with number 2008/18.

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Date of creation: Mar 2008
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Handle: RePEc:ise:isegwp:wp182008

Contact details of provider:
Postal: Department of Economics, School of Economics and Management (ISEG), Technical University of Lisbon, Rua do Quelhas 6, 1200-781 LISBON, PORTUGAL
Web page: http://www.iseg.utl.pt/departamentos/economia/

For technical questions regarding this item, or to correct its listing, contact: (Vitor Escaria).

Related research
Keywords: Accidents airline Time series Persistence Long memory Cointegration.

Find related papers by JEL classification:
D79 - Microeconomics - - Analysis of Collective Decision-Making - - - Other
H56 - Public Economics - - National Government Expenditures and Related Policies - - - National Security and War

This paper has been announced in the following NEP Reports:

References listed on IDEAS
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  1. Sowell, Fallaw, 1992. "Maximum likelihood estimation of stationary univariate fractionally integrated time series models," Journal of Econometrics, Elsevier, vol. 53(1-3), pages 165-188. [Downloadable!] (restricted)
  2. Bosch, Jean-Claude & Eckard, E Woodrow & Singal, Vijay, 1998. "The Competitive Impact of Air Crashes: Stock Market Evidence," Journal of Law & Economics, University of Chicago Press, vol. 41(2), pages 503-19, October.
  3. Haoming Liu & Jinli Zeng, 2007. "Airline passenger fatality and the demand for air travel," Applied Economics, Taylor and Francis Journals, vol. 39(14), pages 1773-1781. [Downloadable!] (restricted)
  4. Guglielmo Maria Caporale & Luis A. Gil-Alana, 2005. "Fractional Cointegration And Aggregate Money Demand Functions," Public Policy Discussion Papers 05-01, Economics and Finance Section, School of Social Sciences, Brunel University. [Downloadable!]
  5. Luis A. Gil-Alana, 2003. "Testing of Fractional Cointegration in Macroeconomic Time Series," Faculty Working Papers 09/03, School of Economics and Business Administration, University of Navarra. [Downloadable!]
  6. Guglielmo Maria Caporale & Luis A. Gil-Alana, 2005. "Fractional Cointegration And Aggregate Money Demand Functions," Economics and Finance Discussion Papers 05-01, Economics and Finance Section, School of Social Sciences, Brunel University. [Downloadable!]
  7. Borenstein, Severin & Zimmerman, Martin B, 1988. "Market Incentives for Safe Commercial Airline Operation," American Economic Review, American Economic Association, vol. 78(5), pages 913-35, December. [Downloadable!] (restricted)
  8. Flores, Renato Jr. & Szafarz, Ariane, 1996. "An enlarged definition of cointegration," Economics Letters, Elsevier, vol. 50(2), pages 193-195, February. [Downloadable!] (restricted)
  9. P. M. Robinson & J. Hualde, 2003. "Cointegration in Fractional Systems with Unknown Integration Orders," Econometrica, Econometric Society, vol. 71(6), pages 1727-1766, November. [Downloadable!] (restricted)
    Other versions:
  10. Guglielmo Maria Caporale & Luis A. Gil-Alana, 2005. "Fractional Cointegration And Aggregate Money Demand Functions," Manchester School, University of Manchester, vol. 73(6), pages 737-753, December. [Downloadable!] (restricted)
  11. Robinson, Peter M. & Yajima, Yoshihiro, 2002. "Determination of cointegrating rank in fractional systems," Journal of Econometrics, Elsevier, vol. 106(2), pages 217-241, February. [Downloadable!] (restricted)
    Other versions:
  12. Nethercutt, Leonard L. & Pruitt, Stephen W., 1997. "Touched by tragedy: capital market lessons from the crash of ValuJet Flight 592," Economics Letters, Elsevier, vol. 56(3), pages 351-358, November. [Downloadable!] (restricted)
  13. Mitchell, Mark L & Maloney, Michael T, 1989. "Crisis in the Cockpit? The Role of Market Forces in Promoting Air Travel Safety," Journal of Law & Economics, University of Chicago Press, vol. 32(2), pages 329-55, October.
  14. Luis A. Gil-Alana, 2003. "Testing of Fractional Cointegration in Macroeconomic Time Series," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 65(4), pages 517-529, 09. [Downloadable!] (restricted)
  15. Rose, Nancy L, 1992. "Fear of Flying? Economic Analysis of Airline Safety," Journal of Economic Perspectives, American Economic Association, vol. 6(2), pages 75-94, Spring. [Downloadable!] (restricted)
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This page was last updated on 2008-7-2.

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