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Estimation of outbound Italian tourism demand: a monthly dynamic EC-LAIDS model

  • Ramesh Durbarry
    ,
  • Isabel Cortés-Jiménez
    ,
  • Manuela Pulina
Research Output: Contribution to journal Article Peer-review

Abstract

An almost ideal demand system with monthly frequency, in both long-run and dynamic forms, is used to quantify the responsiveness of Italian tourism demand to changes in relative prices, exchange rates, expenditure and unexpected one-off events in four main European destinations. Short-term elasticities, which are crucial for policies regarding own price, as well as cross prices and expenditure elasticities are derived from the dynamic model. It is also found that the dynamic model outperforms the long-run model in forecasting accuracy. This paper provides useful information for policymakers to maintain high market shares of Italian tourism demand.

Publication Information

Output type

Research Output: Contribution to journal Article Peer-review

Original language

English

Pages from-to (Number of pages)

Pages 547

Journal (Volume, Issue Number)

Tourism Economics (Volume 15, Issue 3)

Publication milestones

  • Published - 01/09/2009

Publication status

Published - 01/09/2009

ISSN

1354-8166

External Publication IDs

  • handle.net: 10547/594611
  • Scopus: 70350303114

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