International tourism is one of the most important sectors of the open economy. The aim of this paper is to investigate the effects that income as gross domestic product, tourism price as the real exchange rate, and travel cost as the price of Brent crude oil have on inbound tourism demand...

In this paper I test the validity of the capital‐enhanced equilibrium exchange rate (CHEER) approach for the four Visegrad new EU countries. Recent unit root and cointegration techniques with structural breaks in the data have been used. The CHEER approach is empirically validated only for the...