This paper develops tourism demand econometric models based on the monthly data of tourists to Taiwan and adopts Multivariate Adaptive Regression Splines (MARS), Artificial Neural Network (ANN) and Support Vector Regression (SVR), MARS, ANN and SVR to develop forecast models and compare the forecast results. The results showed that SVR model is the optimal model, with a mean error rate of 3.61%...

This study empirically re-examines the relationship between transport infrastructure and economic growth in India for period 1990–2017. Multivariate dynamic models are applied to estimate different modes of namely road, rail air transports vector error correction model framework. The results reveal that road have significant positive contribution long-run while is insignificant. further examine...

abstract this study investigates casual relationship between co2 emission and gross domestic product per capita in five different country groups, using cross- country data for the period 1960-2007. to achieve the purpose, the co- integration test and error correction models are applied. results confirm casual relationships between the two variables. a unilateral relationship between gdp and co2...

This paper provides an empirical exploration of the interaction between fiscal policy, monetary policy, exchange rates, and external balances as well as their impacts on real economic growth and inflation for the BRICS countries. A panel VAR model is employed to assess the dynamic relationships. Our results generally confirm the significant impacts of a monetary shock on real economic activity ...

Output-growth and inflation differentials have been large and rather persistent since the beginning of the European Economic and Monetary Union. In the empirical literature, several fundamental causes of heterogeneities as regional productivity shocks and home-bias effects, and frictions as staggered-pricing and labor immobility are identified as causes for these differentials. In our model, we...

This study investigates the dynamics of fiscal policy and economic stabilization using a panel dataset from Sub-Saharan Africa (SSA) sourced World Development Indicators (WDI) between 1985 2019. The utilized vector error correction model (VECM) rather than autoregression (PVAR) after ascertaining presence cointegrating equations (existence long-run relationships). Also, both homogenous heteroge...

The economic performances of the Eurozone look weaker than those of the United States over the period 1999-2006, in spite of the fact that the former applies more thoroughly the 'new macroeconomics' governance rules concerning public deficits and inflation control. The literature emphasizes Alan Greenspan's pragmatism when discussing the relative success of the Fed, but the reasons why pragmati...

The study explores the phenomena of Latvian real exchange rate appreciation during transition in order to assess if repeatedly heard assertions of overvalued lats and its harming effect on country’s competitiveness are empirically validated. To this end real effective exchange rate of ten major trade partners, including both advanced and transition economies at different stages of their restruc...