Dynamic analysis of British demand for tourism abroad

Panayiota Lyssiotou ()
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Panayiota Lyssiotou: University of Cyprus, P.O.Box 20537, 1678 Nicosia, Cyprus

Empirical Economics, 2000, vol. 25, issue 3, 436 pages

Abstract: This paper investigates how preference endogeneity, in the form of habit persistence, can affect short-run and long-run tourism expenditure decisions. The proposed model is applied to British quarterly data over the period 1979-91 and the empirical results suggest that preference endogeneity appears to have an important effect. This has policy implications for countries competing for British tourist arrivals. The differences between the short-run and long-run price and budget elasticities which are implied by habit persistence are also investigated.

Keywords: Preference; endogeneity; ·; demand; for; tourism; ·; habit; persistence (search for similar items in EconPapers)
JEL-codes: D1 (search for similar items in EconPapers)
Date: 2000-08-10
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Citations: View citations in EconPapers (20)

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