Methods for Measuring the Effects of the EU Presidency on International Tourism
This study uses time-series techniques and econometric approaches in order to quantify the effects that organising an EU presidency has on the tourism exports of a country. The approach to explain tourism revenues by a time-series intervention model filters out special effects (data discontinuations, exchange rates, events, media reports, etc.) by outlier detection methods, maps influences from trends, the business cycle and seasonal effects in an ARIMA model and depicts the effect of an EU presidency by way of an intervention variable. Using econometric indicator approaches, a country's tourism exports are controlled for seasonal and special influences, habitual effects and demand trends by way of suitable indicators, and a dummy variable is used to test whether the EU presidency made a statistically significant contribution to the revenues from tourism.
|Date of creation:||25 Oct 2006|
|Contact details of provider:|| Postal: Arsenal Object 20, A-1030 Wien|
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- Hodrick, Robert J & Prescott, Edward C, 1997.
"Postwar U.S. Business Cycles: An Empirical Investigation,"
Journal of Money, Credit and Banking,
Blackwell Publishing, vol. 29(1), pages 1-16, February.
- Robert J. Hodrick & Edward Prescott, 1981. "Post-War U.S. Business Cycles: An Empirical Investigation," Discussion Papers 451, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Darne, Olivier & Diebolt, Claude, 2004. "Unit roots and infrequent large shocks: new international evidence on output," Journal of Monetary Economics, Elsevier, vol. 51(7), pages 1449-1465, October. Full references (including those not matched with items on IDEAS)
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