LEADER 04252nam 2200733 a 450 001 9910451828203321 005 20200520144314.0 010 $a1-4623-4159-4 010 $a1-4552-8315-0 010 $a1-283-56584-6 010 $a9786613878298 010 $a1-4552-1767-0 035 $a(CKB)2550000000102896 035 $a(EBL)1587215 035 $a(SSID)ssj0000940846 035 $a(PQKBManifestationID)11494018 035 $a(PQKBTitleCode)TC0000940846 035 $a(PQKBWorkID)10955710 035 $a(PQKB)11589086 035 $a(MiAaPQ)EBC1587215 035 $a(Au-PeEL)EBL1587215 035 $a(CaPaEBR)ebr10556875 035 $a(CaONFJC)MIL387829 035 $a(OCoLC)867927241 035 $a(EXLCZ)992550000000102896 100 $a20120911d2011 uy 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aRecession and policy transmission to Latin American tourism$b[electronic resource] $edoes expanded travel to Cuba offset crisis spillovers? /$fRafel Romeu and Andy Wolfe 210 $a[Washington, D.C.] $cInternational Monetary Fund$d2011 215 $a1 online resource (53 p.) 225 0$aIMF working paper ;$vWP/11/32 300 $aDescription based upon print version of record. 311 $a1-4552-1768-9 320 $aIncludes bibliographical references. 327 $aCover 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 327 $aTable 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 327 $aVI. ConclusionsAppendix I; References; Footnotes 330 $aThis study measures the impact of changing economic conditions in OECD countries on tourist arrivals to countries/destinations in Latin America and the Caribbean. A model of utility maximization across labor, consumption of goods and services at home, and consumption of tourism services across monopolistically competitive destinations abroad is presented. The model yields estimable equations arrivals as a function of OECD economic conditions and the elasticity of substitution across tourist destinations. Estimates suggest median tourism arrivals decline by at least three to five percent in res 410 0$aIMF Working Papers 606 $aTourism$zLatin America$xEconometric models 606 $aBusiness cycles$zLatin America$xEconometric models 606 $aGlobal Financial Crisis, 2008-2009 606 $aTourists$zOECD countries$xEconometric models 606 $aEuropeans$xTravel$zLatin America$xEconometric models 608 $aElectronic books. 615 0$aTourism$xEconometric models. 615 0$aBusiness cycles$xEconometric models. 615 0$aGlobal Financial Crisis, 2008-2009. 615 0$aTourists$xEconometric models. 615 0$aEuropeans$xTravel$xEconometric models. 700 $aRomeu$b Rafel$0936423 701 $aWolfe$b Andrew M$0936424 712 02$aInternational Monetary Fund.$bWestern Hemisphere Dept. 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910451828203321 996 $aRecession and policy transmission to Latin American tourism$92109333 997 $aUNINA