Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 2 of 2
Full-Text Articles in Entire DC Network
International Tourism Demand And Volatility Models For The Canary Islands, Suhejla Hoti, Carmelo J. León, Michael Mcaleer
International Tourism Demand And Volatility Models For The Canary Islands, Suhejla Hoti, Carmelo J. León, Michael Mcaleer
International Congress on Environmental Modelling and Software
International tourism is an important source of service exports to Spain and its regions, particularly the Canary Islands. Tourism is the major industry in the Canary Islands, accounting for about 22% of GDP. This paper examines time series of international tourism demand to the Canary Islands collected by the National Airport Administration (AENA) at airports from information regarding the number of tourist arrivals from abroad. The data set comprises monthly figures for the Canary Islands from 14 leading tourist source countries, as well as total tourist arrivals, from 1990(1)-2003(12). Tourist arrivals and associated volatilities for the monthly tourism data are …
Rolling Conditional Correlations Of Foreign Patents In The Usa, Felix Chan, Dora Marinova, Michael Mcaleer
Rolling Conditional Correlations Of Foreign Patents In The Usa, Felix Chan, Dora Marinova, Michael Mcaleer
International Congress on Environmental Modelling and Software
Patent registrations have often been used as a proxy of innovation as they reflect a country’s technological capability. Recently, some studies have found that the Generalised Autoregressive Conditional Heteroscedasticity (GARCH) model and an asymmetric extension, namely Glosten, Jagannathan and Runkle's (GJR) model, are useful to model the time-varying volatility of the patent ratio, namely the ratio of foreign patents registered in the USA to total patents in the USA. However, this approach assumes that the conditional variance is independent across countries. Furthermore, the time series properties of the patent growth rate, namely the rate of change of foreign patents registered …