A new perspective on the linkages between tourism demand and business cycles

Vatsa, Puneet; Balli, Faruk; Saleh, Ali Salman

doi:10.1002/jtr.2500

Cited by 4 publications

(1 citation statement)

References 43 publications

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“…Additionally, the cycles produced by the HPF are not robust to differences in the seasonal properties of the data (Vatsa et al , 2022). The HPF also entails ad hoc assumptions regarding the choice of the smoothing parameter, which influences the tradeoff between the smoothness of the trend and its goodness-of-fit.…”

Section: Context and Motivationmentioning

confidence: 99%

Energy prices and the macroeconomy: new evidence from Hodrick–Prescott and Hamilton filters

Vatsa

2022

JFEP

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Purpose This paper aims to investigate the cyclical associations among energy prices and key macroeconomic variables for the USA. Design/methodology/approach To this end, the recently developed Hamilton filter (HF) and the oft-used Hodrick–Prescott filter (HPF) are used. The two methods produce starkly different results regarding the relationships between energy prices on the one hand and output and employment on the other. Findings While the HF suggests that energy prices are acyclical, the HPF suggests they are procyclical. However, the associations between energy prices and inflation are robust across the two methods, indicating that energy prices are strongly correlated with – and lead – the consumer price index (CPI). Furthermore, unlike the results produced by the HPF, those produced by the HF are robust across seasonally adjusted and unadjusted data. Research limitations/implications Given the inherent seasonality in energy prices and the differences in the underlying processes that generate macroeconomic and energy prices, the results obtained from the HPF filter should be interpreted with caution. Originality/value To the best of the authors’ knowledge, this is the first study that uses the recently developed HF to examine the associations between the cyclical behaviors of three key macroeconomic variables in the USA – the industrial production index, the CPI, and total nonfarm employment – and the prices of natural gas, crude oil, gasoline, diesel, and heating oil. Second, this study presents a comparison of the results produced by the two filtering techniques. Third, recognizing that energy prices are characterized by seasonality, this study tests the robustness of the results produced by the two filters across seasonally adjusted and unadjusted data.

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Section: Context and Motivationmentioning

confidence: 99%

Energy prices and the macroeconomy: new evidence from Hodrick–Prescott and Hamilton filters

Vatsa

2022

JFEP

Self Cite

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The community relations of sports tourism destinations and pro-sports tourism behavior: the multiple mediating roles of benefit perception

Wang

2023

Leisure Studies

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Residents’ perceptions of sustainable tourism governance and development

Draçi¹,

Demi²

2023

CBSR

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This study describes the support and participation of the residents in Saranda and Ksamil (Albania) in the planning and development process of tourism as a key element for the sustainable management of tourism resources (Ahmeti et al., 2019). The purpose of this study is the analysis of residents’ perceptions of the governance and development of sustainable tourism. To evaluate the structural relationship between the variables, the Likert scale, and the nominal measure were used, and the exogenous variables were considered as predictors for the endogenous variable. This study found the independent variable to have a significant impact on the residents’ behavior (95% level of significance), so we can say that the attitudes of the community about the environment affect community support for sustainable tourism development in their area. This area gets direct and sharpest visible impacts so far, from tourist development. There is an attractive landscape for tourists, and it is at the core of the debates on sustainable tourism development planning. The results of this study will present to the local government in Saranda to see that the attitudes of the residents towards the environment and nature are in harmony with nature.

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A new perspective on the linkages between tourism demand and business cycles

Cited by 4 publications

References 43 publications

Energy prices and the macroeconomy: new evidence from Hodrick–Prescott and Hamilton filters

Energy prices and the macroeconomy: new evidence from Hodrick–Prescott and Hamilton filters

The community relations of sports tourism destinations and pro-sports tourism behavior: the multiple mediating roles of benefit perception

Residents’ perceptions of sustainable tourism governance and development

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