The paper analyzes the dynamic effects of a total factor productivity shock and an interest rate risk premium shock in a highly indebted open economy. In contrast to the standard open economy framework, search unemployment and wage bargaining are introduced. We find that a negative total factor...

Purpose – This paper aims provides an empirical analysis of the development of the internationalisation process in the Spanish hotel industry, which has experienced major changes during the past decade. The degree of internationalisation between 2000 and 2010 is used as a proxy variable with...

This study presents a theoretical and operational framework for analysing repeat visit to museums. Starting from the literature on repeat visit in tourism, the specificities of these cultural attractions are made explicit through a review of theoretical and applied works. Consistently with...

Past literature investigating the determinants of tourist expenditure have made a wide use of econometric models to assess conditional relationships of a set of regressors in predicting individual spending. However such techniques provide little or no information about the relationships within...

This paper analyzes the dynamic economic performance of the Italian regions during the period 1970-2004. The performance is given by the transitions between regimes defined by the level and the growth rates of per capita GDP. Using the concept of economic regime, we introduce a notion of...