The empirical results reported in this paper suggest that only about 20% of the aggregate effects of public investment in highways in the US are captured by the direct effects on each state output of public investment in the state itself. The remaining 80% correspond to the spillover effects...

This article uses outlier detection procedures to investigate events that may have had a pronounced effect on tourism in Portugal. Interestingly, we confirm the evidence that the effects on tourism are lagged in time. As a result, expected business volumes are only attained later than originally...