The reported study measures the impact of the economic determinants of the international demand for tourist services in Spain. A panel data set of seventeen countries over the period 1985-1995 is used. By using appropriate panel data techniques the effects of real per capita income, exchange...

Are twodecades of daily observations more plausible thana set of hourly data of the same size? Is it true that the more data there is the better the estimate? To answer those questions, an understanding of two types of consistency associated with estimates of return andvolatility is fundamental....

A simple explanation within the theory of indifference curves is offered for the experimental observations concerning the disparity between willingness to pay (WTP) and willingness to accept (WTA). Following Morrison's evidence, this explanation rests largely on the endowment effect. Two demand...

The long-run purchasing power parity (PPP) hypothesis is re-examined using data for Turkey and its major trading partners during the period 1980-97, extending recent work by Telatar and Kazdagli. The empirical analysis suggests that, while conventional unit root tests do not enable the detection...

This paper investigates the existence of the January effect and monthly seasonality in the All Gold Index on the Johannesburg Stock Exchange over an 11 year period, 5 January 1987 through 15 May 1997, and for three subsamples of equal length. The results are in severe contrast to the...

Individual worker data is used to identify which types of workers and firms choose PRP in Belgium and The Netherlands. The results show that there are significant differences across these neighbouring countries in terms of the workers who choose PRP systems and the firms who adopt them. Results...

Analysis of monthly gaming activities in Clark County, Nevada from 1988:1 to 1995:6 reveals that the County's gaming revenue is positively associated with the amount of playable slot machines and visitors, and negatively to the nation's travel price index. The analysis also reveals the negative...

Using a harmonized data set for the European Union and panel data techniques, and following a production function approach, we find a positive growth effect of total social protection expenditure on growth. When evaluating the effects of different programmes, the results are mixed.

A recent paper by Bedi and Gaston, in estimating the returns to endogenous education in Honduras, examined the determinants of educational attainment through the use of official government statistics. This letter seeks to corroborate their findings using independently collected data and a wider...

Recently researchers have begun to develop methods to detect stationarity or cointegration when the underlying error correction process follows a threshold model. In the context of one type of threshold model, Pippenger and Goering found that the power of unit root or cointegration tests decay...