The growth of cultural tourism globally has presented an important opportunity for public investment in tourism to drive economic development in developing countries. With Bolivia's regional disparities in income and opportunity, it is critical to understand the regionally differentiated welfare...

There is a debate in the literature on the appropriate methods and metrics for evaluating the economic impacts of tourism investments. Available analytical techniques include input-output modelling, computable general equilibrium modelling, cost benefit analysis, expenditure-based methods, and...

Vaccine passports are the latest hotly debated and highly polarizing issue in U.S. politics. Many experts consider them a key tool to safely restart the economy, while increasing vaccine take-up. However, just as many consider vaccine passports unfair and a threat to individual liberties and...

The article deals with issues concerning the regulation of tourism during the COVID-19 crisis in the Czech Republic. Tourism is among the most affected economic sectors by the current pandemic. During the pandemic, the State compensated the financial losses of tourist guides, but such...

Novel Corona (COVID 19) epidemic that emerged in Wuhan China in the latter months of 2019 has become a global pandemic at present bringing about radical socio, economic impacts and behavioral changes of individuals and communities. Equally, tourism was a catalyst of spreading the virus all over...

Structural VAR models require two ingredients: (i) Informational sufficiency, and (ii) a valid identification strategy. These conditions are unlikely to be met by small-scale recursively identified VAR models. I propose a Bayesian Proxy Factor-Augmented VAR (BP-FAVAR) to combine a large...

The European Central Bank (ECB) took many measures to combat the eurozone's rolling financial crisis. For providing desperately scarce dollars to eurozone banks, the ECB relied on the U.S. Federal Reserve. Using a novel econometric framework, we identify financial markets' response to the...

We compare the cost effectiveness of two pronatalist policies: (a) child allowances; and (b) daycare subsidies. We pay special attention to estimating how intended fertility (fertility before children are born) responds to these policies. We use two evaluation tools: (i) a dynamic model on...

Besides facilitating access to the world market, WTO accession negotiations entail a process of domestic reforms that are expected to improve the supply side of acceding economies. However, measuring the actual impact of accession remains an empirical debate. The present paper contributes to the...

This study investigates the effects of a monetary policy shock on real output and prices, by means of a novel distribution-free nonrecursive identification scheme for structural vector autoregressions. Structural shocks are assumed to be mutually independent. The identification procedure is...