INTERNATIONAL TRAVELLING AND TRADE: FURTHER EVIDENCE FOR THE CASE OF SPANISH WINE BASED ON FRACTIONAL VAR SPECIFICATIONS

Luis Alberiko Gil-Alana (1) , Christian Fischer (2)

1 Faculty of Economics
2 Agricultural Economics

This paper deals with the relationship between international travelling and trade. For this purpose we focus on a particular case study: the connection between the Spanish wine exports to Germany and the German travellers to Spain. Unlike previous studies we use a methodology based on fractional vector autoregressive models, which permits us to compute the impulse responses in a similar way as in the standard VAR case. The results show that the orders of integration of the two series are constrained between 0 and 1, being higher for the arrivals series than for the exports. The impulse response analysis reveals that an increase in travelling produces a positive initial impact on trade though it tends to disappear in the long run.

Mots clés: Social Sciences & Humanities

Luis Alberiko Gil-Alana, Christian Fischer. INTERNATIONAL TRAVELLING AND TRADE: FURTHER EVIDENCE FOR THE CASE OF SPANISH WINE BASED ON FRACTIONAL VAR SPECIFICATIONS. Applied Economics, 2009, 42 (19), pp.2417-2434. ⟨10.1080/00036840701858083⟩. ⟨hal-00582245⟩