Tourism has been regarded as a major source of economic growth and a good source of foreign exchange earnings. Tourism has also been considered as an activity that imposes costs on the host country. Such costs include increased pollution, congestion and despoliation of fragile environments and...

This paper examines the effects of tourism in a dynamic model of trade on unemployment, capital accumulation and resident welfare. A tourism boom improves the terms of trade, increases labor employment, but lowers capital accumulation. The reduction in the capital stock depends on the degree of...

Tourism has been regarded as a major source of economic growth and a good source of foreign exchange earnings. Tourism has also been considered as an activity that imposes costs on the host country. Such costs include increased pollution, congestion and despoliation of fragile environments and...

We investigate whether the historical shock of the Indian Partition, one of the largest forced displacements in the twentieth century, affected social capital in parts of India in the long-run. India was partitioned in 1947 into India and Pakistan (East and West Pakistan). The Partition shock is...

We investigate whether the historical shock of the Indian Partition, one of the largest forced displacements in the twentieth century, affected social capital in the long-run. India was partitioned in 1947 into India and Pakistan (East and West Pakistan). At this time, many Hindus and Sikhs...

We present results from an extensive study on the benefits of rolling window and model averaging. Building on the recent work on rolling window averaging by Pesaran et al (2010, 2009) and on exchange rate forecasting by Molodtsova and Papell (2009), we explore whether rolling window averaging...