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Modelling Air Passenger Arrivals in the Balearic and Canary Islands, Spain

Author

Listed:
  • Ana Bartolomé

    (Faculty of Economics and Business, Universitat de les Illes Balears, Edificio Gaspar Melchor de Jovellanos, Ctr Valldemossa, km 7.5, 07122 Palma de Mallorca, Spain)

  • Michael McAleer

    (School of Economics and Commerce, University of Western Australia, 35 Stirling Highway, Crawley, Western Australia 6009)

  • Vicente Ramos

    (Faculty of Economics and Business, University of the Balearic Islands, Palma de Mallorca, Spain)

  • Javier Rey-Maquieira

    (Faculty of Economics and Business, University of the Balearic Islands, Palma de Mallorca, Spain)

Abstract

This paper models daily air passenger arrivals and their volatility for the Balearic and Canary Islands, Spain. Due to climatic conditions, tourism seasonality is clear in the Balearics, with an increasing number of arrivals during the winter months. In the Canary Islands, the seasonal pattern is different, with decreasing numbers in recent years. Three univariate conditional volatility models are estimated for both the Balearics and the Canaries, concentrating on empirical issues relating to short- and long-run persistence, as well as the symmetric and asymmetric effects of positive and negative shocks of equal magnitude on volatility.

Suggested Citation

  • Ana Bartolomé & Michael McAleer & Vicente Ramos & Javier Rey-Maquieira, 2009. "Modelling Air Passenger Arrivals in the Balearic and Canary Islands, Spain," Tourism Economics, , vol. 15(3), pages 481-500, September.
    • Handle: RePEc:sae:toueco:v:15:y:2009:i:3:p:481-500
    DOI: 10.5367/000000009789036567
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    References listed on IDEAS

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    2. Yuruixian Zhang & Wei Chong Choo & Yuhanis Abdul Aziz & Choy Leong Yee & Cheong Kin Wan & Jen Sim Ho, 2022. "Effects of Multiple Financial News Shocks on Tourism Demand Volatility Modelling and Forecasting," JRFM, MDPI, vol. 15(7), pages 1-47, June.

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