Modeling the degree of persistence in Croatian tourism

Luis Gil-Alana, Andrea Mervar and James Payne

Tourism Economics, 2016, vol. 22, issue 3, 655-664

Abstract: The Croatian tourism sector has been affected by a number of negative and positive shocks since the beginning of the 1990s. To examine the impact of shocks on tourism, the authors employ fractional integration techniques as a means to gauge the degree of persistence of such shocks. Based on monthly data from January 1995 to December 2013, they find that the respective tourism indicators contain seasonal unit roots. An examination of the seasonally differenced tourism time series reveals that the fractional differencing parameter, d , with allowance for an autocorrelated error process, is strictly below 1, implying that shocks are transitory and disappear relatively quickly.

Keywords: Croatia; fractional integration; persistence; seasonality; tourism indicators (search for similar items in EconPapers)
Date: 2016
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Citations: View citations in EconPapers (7)

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Persistent link: https://EconPapers.repec.org/RePEc:sae:toueco:v:22:y:2016:i:3:p:655-664

DOI: 10.5367/te.2014.0457

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