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Dynamic analysis of British demand for tourism abroad

Author

Listed:
  • Panayiota Lyssiotou

    () (University of Cyprus, P.O.Box 20537, 1678 Nicosia, Cyprus)

Abstract

This paper investigates how preference endogeneity, in the form of habit persistence, can affect short-run and long-run tourism expenditure decisions. The proposed model is applied to British quarterly data over the period 1979-91 and the empirical results suggest that preference endogeneity appears to have an important effect. This has policy implications for countries competing for British tourist arrivals. The differences between the short-run and long-run price and budget elasticities which are implied by habit persistence are also investigated.

Suggested Citation

  • Panayiota Lyssiotou, 2000. "Dynamic analysis of British demand for tourism abroad," Empirical Economics, Springer, vol. 25(3), pages 421-436.
  • Handle: RePEc:spr:empeco:v:25:y:2000:i:3:p:421-436
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    References listed on IDEAS

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    2. Zvi Griliches, 1998. "Returns to Research and Development Expenditures in the Private Sector," NBER Chapters,in: R&D and Productivity: The Econometric Evidence, pages 49-81 National Bureau of Economic Research, Inc.
    3. Esposti, Roberto & Pierani, Pierpaolo, 2000. "Modelling technical change in Italian agriculture: a latent variable approach," Agricultural Economics, Blackwell, pages 261-270.
    4. Chambers,Robert G., 1988. "Applied Production Analysis," Cambridge Books, Cambridge University Press, number 9780521314275, December.
    5. Robert J. Barro & Xavier Sala-I-Martin, 1992. "Public Finance in Models of Economic Growth," Review of Economic Studies, Oxford University Press, vol. 59(4), pages 645-661.
    6. Morrison, Catherine J & Schwartz, Amy Ellen, 1996. "State Infrastructure and Productive Performance," American Economic Review, American Economic Association, vol. 86(5), pages 1095-1111, December.
    7. Mundlak, Yair, 2001. "Production and supply," Handbook of Agricultural Economics,in: B. L. Gardner & G. C. Rausser (ed.), Handbook of Agricultural Economics, edition 1, volume 1, chapter 1, pages 3-85 Elsevier.
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    Citations

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    Cited by:

    1. Michael Haliassos, 2002. "Stockholding: Recent Lessons from Theory and Computations," University of Cyprus Working Papers in Economics 0206, University of Cyprus Department of Economics.
    2. Panos Pashardes & Soteroula Hajispyrou, 2002. "Consumer Demand and Welfare under Increasing Block Pricing," University of Cyprus Working Papers in Economics 0207, University of Cyprus Department of Economics.
    3. Jacqueline M. Hamilton & Richard S.J. Tol, 2004. "The Impact Of Climate Change On Tourism And Recreation," Working Papers FNU-52, Research unit Sustainability and Global Change, Hamburg University, revised Nov 2004.
    4. repec:eee:touman:v:36:y:2013:i:c:p:247-256 is not listed on IDEAS
    5. repec:eee:touman:v:41:y:2014:i:c:p:28-42 is not listed on IDEAS
    6. repec:eee:touman:v:31:y:2010:i:3:p:367-377 is not listed on IDEAS
    7. Duha Altindag, 2014. "Crime and International Tourism," Journal of Labor Research, Springer, vol. 35(1), pages 1-14, March.
    8. Niamh Callaghan & Richard S. J. Tol, 2013. "UK Tourists, the Great Recession and Irish Tourism Policy," The Economic and Social Review, Economic and Social Studies, vol. 44(1), pages 103-116.
    9. Panos Hatzipanayotou & Sajal Lahiri & Michael S. Michael, 2002. "Reforms of Environmental Policies in the Presence of Cross-border Pollution and two Stage Clean Up," University of Cyprus Working Papers in Economics 0203, University of Cyprus Department of Economics.
    10. repec:eee:touman:v:45:y:2014:i:c:p:159-170 is not listed on IDEAS
    11. Jacqueline M. Hamilton & David J. Maddison & Richard S.J. Tol, 2003. "Climate Change And International Tourism: A Simulation Study," Working Papers FNU-31, Research unit Sustainability and Global Change, Hamburg University, revised Sep 2003.
    12. Maria M. De Mello & Natércia Fortuna, 2005. "Testing Alternative Dynamic Systems for Modelling Tourism Demand," CEF.UP Working Papers 0501, Universidade do Porto, Faculdade de Economia do Porto.
    13. Andrea Bigano & Alessandra Goria & Jacqueline Hamilton & Richard S.J. Tol, 2005. "The Effect of Climate Change and Extreme Weather Events on Tourism," Working Papers 2005.30, Fondazione Eni Enrico Mattei.

    More about this item

    Keywords

    Preference endogeneity · demand for tourism · habit persistence;

    JEL classification:

    • D1 - Microeconomics - - Household Behavior

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