A time-series model of private consumption in South Africa is presented. Consumer expenditure is found to be sensitive not only to income, but also to the source of income, interest rates and measures of political and economic uncertainty.

We explore the factors explaining cross-sectional variation in changes in international tourist arrivals into Israel during the Intifada. Much of the variation is attributable to identifiable socio-economic characteristics, providing evidence on what drives public sensitivity to violence around...