International traveling and trade: further evidence for the case of Spanish wine based on fractional VAR specifications

Luis Gil-Alana and Christian Fischer

No 7859, 105th Seminar, March 8-10, 2007, Bologna, Italy from European Association of Agricultural Economists

Abstract: This paper deals with the relationship between international travelling and trade. For this purpose we focus on a particular case study: the connection between the Spanish wine exports to Germany and the German travellers to Spain. Unlike previous studies we use a methodology based on fractional vector autoregressive models, which permits us to compute the impulse responses in a similar way as in the standard VAR case. The results show that the orders of integration of the two series are constrained between 0 and 1, being higher for the arrivals series than for the exports. The impulse response analysis reveals that an increase in travelling produces a positive initial impact on trade though it tends to disappear in the long run.

Keywords: International; Relations/Trade (search for similar items in EconPapers)
Pages: 24
Date: 2007
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:eaa105:7859

DOI: 10.22004/ag.econ.7859

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