International travelling and trade: further evidence for the case of Spanish wine based on fractional vector autoregressive specifications
Year: 2009
Type: article
Abstract: This article 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 (VAR) 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.
Source: Applied Economics
Authors: Luis A. Gil-Alana, Christian Fischer
Institutions: Universidad de Navarra, University of Bonn
Language: English
Topic: Global trade and economics
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W1978559648