Biodiesel continues to be an alternative fuel of interest for use in diesel engines. Although biodiesel’s properties are similar to petroleum diesel’s, certain differences create possibilities for parameters, such as efficiency, to be different. The objective of the study is to identify the...

This study investigates whether experts’ group-based judgmental adjustments to econometric forecasts of tourism demand improve the accuracy of the forecasts and whether the adjusted forecasts are unbiased. The Delphi method was used to aggregate experts’ judgmental adjustments and a range of...

This study evaluates the forecasting accuracy of five alternative econometric models in the context of predicting the quarterly international tourism demand in 25 countries or country groupings. Tourism demand is measured in terms of tourist expenditure by inbound international visitors in a...

This paper addresses two problems faced by many forecasters in the transport sector, namely how to use a relatively small sample to forecast car ownership over a long period of time and avoid the difficulties caused by spurious or nonsense regressions. Five alternative estimation methods are...

A general to specific methodology is used to construct UK demand for outbound tourism models to twelve destinations. A tourism destination preference index is introduced to take into account social, cultural and psychological influences on tourists' decisions concerning their overseas holiday...

This paper uses GARCH models to analyse the relationship between returns and volatility on the Shanghai and Shenzhen Stock Exchanges in China. Empirical estimates using the sample data from 21 May 1992 to 2 February 1996 suggest that the variances of the returns in the two markets are best...

Previous studies indicate that the poor forecasting performance of constant parameter UK consumption expenditure models is caused by structural instability in the underlying data generating process. Typically, this instability is removed by reparameterization within the constant parameter...

This paper uses a time varying parameter (TVP) approach to model and forecast the aggregate consumers' expenditure on non-durables and services in the UK. The results suggest that the TVP method is particularly useful in forecasting when the structure of the consumption model is unstable.