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An informal model is described that leads to multiple macroeconomic equilibria as a consequence of random variation in the relative amounts of technological change for new and existing goods. The novel observation is that the rate of introduction and market penetration of new goods vis-a-vis...
Persistent link: https://www.econbiz.de/10012756204
Empirical data is presented suggesting that high private and, to a lesser extent, public debt levels place a strong drag upon economic growth. A simple, demand-based, cash flow (DBCF) model of the economy is developed, separating out flows by marginal propensity to spend. This approach is both...
Persistent link: https://www.econbiz.de/10012980568
Tourism is one of the most important factors in the productivity of the Greek economy with significant multiplier … growth and tourism expenditure using a trivariate model with real effective exchange rate, analysed as a whole and in sub …-run equilibrium relationships and unidirectional causal relationship is reported from tourism expenditure to real output in the short …
Persistent link: https://www.econbiz.de/10012857122
Tourism is regarded as a dynamic economic industry in the world, specifically for developing countries like Sri Lanka … of Sri Lanka and World Bank were used in this study. GDP is measured by US$ millions', ITA by the amount of tourism …
Persistent link: https://www.econbiz.de/10012981370
This Selected Issues paper analyzes sustaining potential growth in Aruba. As in the other Caribbean countries, there are growing concerns in Aruba about the slowdown in economic growth over the past two decades and the consequent tepid outlook for potential growth. Tackling such concerns...
Persistent link: https://www.econbiz.de/10011245149
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Persistent link: https://www.econbiz.de/10011986170
In the developing economy, tourism is the most visible and steadiest growing facade. Tourism is considered one of the … autoregression (VAR) model, error correction model (ECM), and the Granger causality to check the relationship between the tourism … product (GDP) is used as a replacement variable for the economic growth index, while internal tourism revenue is used as a …
Persistent link: https://www.econbiz.de/10012020486
Persistent link: https://www.econbiz.de/10012126351
This article introduces ‘Granger Causality in Tourism Analysis for Slovenia andMontenegro.’ Included within are … comparisons of the tourism ledgrowth in these countries between December 2007–June 2015. The focus of the analysis is directed …. The latter indicates uni-directional causal relationships of three relations between the economic growths, tourism growth …
Persistent link: https://www.econbiz.de/10011581391