Holiday taking and income

Thanos Mergoupis () and Max Steuer

Applied Economics, 2003, vol. 35, issue 3, 269-284

Abstract: This paper is the first attempt to estimate the determinants of holiday-taking across several countries. To accomplish this a two-stage estimation procedure is employed which enables incongruous income categories to be transformed into a single income variable. It is found that in the mid-1980s there was a substantial similarity in the holiday taking behaviour of Europeans. The large national differences in holiday participation are explained by differences in income and demographic factors. A remarkable regularity in the responsiveness of the probability of holiday taking to marginal changes in income is found.

Date: 2003
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DOI: 10.1080/00036840210143071

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