Recession and policy transmission to Latin American tourism [[electronic resource] ] : does expanded travel to Cuba offset crisis spillovers? / / Rafel Romeu and Andy Wolfe

• Record Nr.: UNINA9910451828203321
• Autore: Romeu Rafel
• Pubbl/distr/stampa: [Washington, D.C.], : International Monetary Fund, 2011
• ISBN: 1-4623-4159-4; 1-4552-8315-0; 1-283-56584-6; 9786613878298; 1-4552-1767-0
• Descrizione fisica: 1 online resource (53 p.)
• Collana: IMF working paper ; ; WP/11/32
• Altri autori (Persone): WolfeAndrew M
• Soggetti: Tourism - Latin America - Econometric models; Business cycles - Latin America - Econometric models; Global Financial Crisis, 2008-2009; Tourists - OECD countries - Econometric models; Europeans - Travel - Latin America - Econometric models; Electronic books.
• Lingua di pubblicazione: Inglese
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Note generali: Description based upon print version of record.
• Nota di bibliografia: Includes bibliographical references.
• Nota di contenuto: Cover Page; Title Page; Copyright Page; Contents; I. Introduction; II. An Analytical Framework; III. Data; Table 1. Arrivals by Selected Regions and OECD Groups; Table 2. OECD Groupings by Labor Market Characteristics; Figure 1. U.S. Unemployment and Tourist Arrivals by Caribbean Country Groups; Figure 2. OECD Unemployment Grouped by Labor Market Characteristics; Figure 3. Tests for Unit Roots in Tourist Arrivals; Figure 4. OECD Real Wage Changes Against Hotel Price Inflation, 2009; IV. Empirical Results; Table 3. OLS Regressions of Tourism Arrivals on OECD Unemployment; Table 4. Estimates of the Determinants of Tourist ArrivalsTable 5. Model Fit of Tourist Arrivals; Table 6. Estimates of the Consumer Elasticity of Substitution; V. The Role of Changing U.S. Travel Costs to ; Cuba; Figure 5. Arrivals from U.S. and Close Relatives to Cuba, 1990-2009; Figure 6. Arrivals from Cubans Abroad and the Rest of the World, 2005-09; Figure 7. Income Per-Capita of OECD Countries and Cubans; Figure 8. Revenue per Tourist, Cuba and Dominican Republic; Figure 9. Customs Revenue Schedule, Selected Caribbean Countries; Table 7. Consular Fees for Selected LAC Countries; VI. ConclusionsAppendix I; References; Footnotes
• Sommario/riassunto: This study measures the impact of changing economic conditions in OECD countries on tourist arrivals to countries/destinations in Latin America and the Caribbean. A model of utility maximization across labor, consumption of goods and services at home, and consumption of tourism services across monopolistically competitive destinations abroad is presented. The model yields estimable equations arrivals as a function of OECD economic conditions and the elasticity of substitution across tourist destinations. Estimates suggest median tourism arrivals decline by at least three to five percent in res