fundamental supply and demand shocks when long run equilibrium relationships between the levels of the variables are included in … the empirical specification. Another major difference between the models with the opposite implication for the shock … creation versus shock absorption debate is that non-fundamental exchange rate shocks have much larger effects on output and …

import functions or exportled growth. Focusing on the US relations with Euroland and Canada, cointegration analyses however …

This paper extends previous studies in modeling and estimating energy demand functions for both gasoline and kerosene … demand functions using more recent and robust techniques. In addition, the study considers an alternative model specification … which primarily captures the price-income interaction effects on both gasoline and kerosene demand functions. While the …

expansion of tourism. Cointegration techniques and the multivariate Granger causality test are applied. Results reveal that …Nowadays many developing countries focus on economic policies for promoting international tourism and exports expansion … and economic growth is still ongoing. When treating the relationship between tourism and economic growth, considering …

the Taiwan tourism industry. The analysis is based on two conditional multivariate models, BEKK-AGARCH and VARMA … exchange rate to firm performance. Specifically, the risk for firm size has different effects from the three leading tourism … returns and stock returns. However, the asymmetric effect of the shock is ambiguous, owing to conflicts in the significance …

, Guyana, Jamaica and Trinidad, during the 1985-1993 period using cointegration, Granger causality, and reduced form methods …

national stochastic trends. We find evidence for a cross-section cointegration relationship between the exchange rates and …