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

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

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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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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  10. Luis A. Gil-Alana, . "Fractional integration and structural breaks at unknown periods of time," Faculty Working Papers 16/06, School of Economics and Business Administration, University of Navarra.
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  12. Satheesh Aradhyula & Russell Tronstad, 2003. "Does Tourism Promote Cross-Border Trade?," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 85(3), pages 569-579.
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  16. Gil-Alana, Luis A., 2002. "Seasonal long memory in the aggregate output," Economics Letters, Elsevier, vol. 74(3), pages 333-337, February.
  17. Diebold, Francis X. & Rudebusch, Glenn D., 1989. "Long memory and persistence in aggregate output," Journal of Monetary Economics, Elsevier, vol. 24(2), pages 189-209, September.
  18. Luis A. Gil-Alana, 2004. "Deterministic Seasonality versus Seasonal Fractional Integration," Faculty Working Papers 07/04, School of Economics and Business Administration, University of Navarra.
  19. Joseph Beaulieu, J. & Miron, Jeffrey A., 1993. "Seasonal unit roots in aggregate U.S. data," Journal of Econometrics, Elsevier, vol. 55(1-2), pages 305-328.
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