Chang, Chia-Lin; McAleer, Michael; Lim, Lim, C.H. - Faculteit der Economische Wetenschappen, Erasmus … - 2011
the issues related to risk and leverage effects, are also applicable to international tourism flows. …This paper estimates the effects of short and long haul volatility (or risk) in monthly Japanese tourist arrivals to … former has an asymmetric effect on risk from positive and negative shocks of equal magnitude, while the latter has no …