Santana-Gallego, María; Ledesma-Rodríguez, Francisco J.; … - Asociación Española de Economía y Finanzas … - 2007
The main objective of this paper is to analyze the effect of the exchange rate arrangements on international tourism … common currency on trade. On the basis of a gravity equation we estimate a moderate effect of a currency union on tourism of … trade is reduced when tourism is introduced as a regressor. This suggests that tourism flows may contribute to explain the …