Tourism Stock Prices, Systemic Risk and Tourism Growth: A Kalman Filter with Prior Update DSGE-VAR Model

Tourism and Economic Growth in Developing Countries: P-VAR Approach

This Paper examines the causality and long-run relationships between economic growth and Tourism development in developing countries using P-VAR approach during 1995-2009. The findings reveal that there is a bilateral causality and positive long-run relationship between economic growth and Tourism development. In the other words, the tourism-led growth hypothesis is confirmed, as well as, outpu...

A Prediction Model for Taiwan Tourism Industry Stock Index

Investors and scholars pay continuous attention to the stock market, as each day, many investors attempt to use different methods to predict stock price trends. However, as stock price is affected by economy, politics, domestic and foreign situations, emergency, human factor, and other unknown factors, it is difficult to establish an accurate prediction model. This study used a back-propagation...

Monetary Policy and Stock Prices in a DSGE Framework

Is the Federal Reserve at all concerned with stock market performance, as the observation of its recent conduct might seem to suggest? Is there a theoretical scope for such a concern? This paper addresses both questions, presenting and estimating a small structural model that provides a theoretical rationale for looking at equity prices in conducting Monetary Policy. The focus is on the effects...

Tourism and Economic Growth

Macroeconomic Shocks and Malaysian Tourism Industry: Evidence from a Structural VAR Model

Abstract   his study employs a structural vector autoregression (SVAR) model to investigate the macroeconomic shocks on Malaysian tourism industry, especially how the economy dynamically responds to oil price shocks, exchange rates, changes in price level, exports, economic growth and tourism income during the study time period from January 2001 to December 2012. The results indicate that oil...