Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/153986
Authors: 
Canova, Fabio
Dallari, Pietro
Year of Publication: 
2013
Series/Report no.: 
ECB Working Paper 1553
Abstract: 
We quantify the importance of the tourism channel for the international transmission of cyclical fluctuations to the Mediterranean basin. We use five destination countries and a number of source countries to provide broad evidence on the link. Source country output shocks produce important fluctuations in international tourism flows. Absent the tourism channel, the output effects in a typical destination country would be reduced by about one-fourth. Imported shocks account for an important portion of the fluctuations in destination countries variables. Policy prescriptions are discussed.
Subjects: 
Bayesian random coefficient VARs
International Business Cycles
Mediterranean basin
Tourism flows
JEL: 
E32
C32
Document Type: 
Working Paper

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