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Persistence on airline accidents

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Author Info

  • Carlos P. Barros

    (Technical University of Lisbon)

  • Joao R. Faria

    (Nottingham Trent University)

  • Luis A. Gil-Alana

    ()
    (Facultad de Ciencias Económicas y Empresariales, Universidad de Navarra)

Abstract

This paper analyses airline accidents data from 1927-2006. The fractional integration methodology is adopted. It is shown that airline accidents are persistent and (fractionally) cointegrated with airline traffic. Thus, there exists an equilibrium 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 accidents events.

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File URL: http://www.unav.es/facultad/econom/files/workingpapersmodule/@random497080f7805d2/1257096789_WP_UNAV_08_09.pdf
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Bibliographic Info

Paper provided by School of Economics and Business Administration, University of Navarra in its series Faculty Working Papers with number 08/09.

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Length: 27 pages
Date of creation: 01 Nov 2009
Date of revision:
Publication status: Forthcoming in Disasters
Handle: RePEc:una:unccee:wp0809

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Web page: http://www.unav.es/facultad/econom

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  1. Flores, Renato Jr. & Szafarz, Ariane, 1996. "An enlarged definition of cointegration," Economics Letters, Elsevier, vol. 50(2), pages 193-195, February.
  2. Robinson, Peter M. & Yajima, Yoshihiro, 2002. "Determination of cointegrating rank in fractional systems," Journal of Econometrics, Elsevier, vol. 106(2), pages 217-241, February.
  3. Javier Hualde & Peter M Robinson, 2003. "Cointegration in Fractional Systems with Unkown Integration Orders," STICERD - Econometrics Paper Series /2003/449, Suntory and Toyota International Centres for Economics and Related Disciplines, LSE.
  4. 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.
  5. Johansen, SØren, 2008. "A Representation Theory For A Class Of Vector Autoregressive Models For Fractional Processes," Econometric Theory, Cambridge University Press, vol. 24(03), pages 651-676, June.
  6. Haoming Liu & Jinli Zeng, 2007. "Airline passenger fatality and the demand for air travel," Applied Economics, Taylor & Francis Journals, vol. 39(14), pages 1773-1781.
  7. Peter M. Robinson & Javier Hualde, 2003. "Cointegration in fractional systems with unknown integration orders," LSE Research Online Documents on Economics 2223, London School of Economics and Political Science, LSE Library.
  8. 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.
  9. Hualde, J. & Robinson, P.M., 2010. "Semiparametric inference in multivariate fractionally cointegrated systems," Journal of Econometrics, Elsevier, vol. 157(2), pages 492-511, August.
  10. Bosch, Jean-Claude & Eckard, E Woodrow & Singal, Vijay, 1998. "The Competitive Impact of Air Crashes: Stock Market Evidence," Journal of Law and Economics, University of Chicago Press, vol. 41(2), pages 503-19, October.
  11. 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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