does tourism influence economic growth a dynamic panel data approach on average tourism specialized countries grow more than others this is not consistent with the core of modern economic growth theory that suggests that economic growth is linked to sectors with high tech intensity and large scale in this article we use appropriate panel data methods to study the relationship between tourism and economic growth in general we show that tourism is a positive determinant of economic growth both in a broad sample of countries and in a sample of poor countries however contrary to previous contributions tourism is not more relevant in small countries than in a general sample this is a fully modified version of a working paper co authored by one of the authors

does foreign direct investment impede environmental quality in high middle and low income countries abstract under a multivariate framework this paper aims to investigate the nonlinear correlation between foreign direct investment and environmental degradation for high middle and low income countries with economic growth and energy consumption as additional determinants of environmental degradation all variables were found to be nonstationary and cointegrated based on recent panel data unit root tests and cointegration techniques on applying fully modified ordinary least squares fmols the long run results suggest the presence of an environmental kuznets curve in turn foreign direct investment increases environmental degradation thus confirming the pollution haven hypothesis phh moreover the bidirectional causality between co2 emissions and foreign direct investment is observed globally the findings are sensitive to different income groups and regional analyses in particular these empirical findings aid sound economic policymaking for improving environmental quality and sustainable economic development

convention industry and destination clusters evidence from italy abstract the study investigates aspects of the convention industry not well explored in the literature using a framework of cluster theory a quantitative method is used to assess the italian convention industry and its relationships with local infrastructure and tourism product supply the development of the different phases of the life cycle of convention destinations in italy is outlined and locational factors which influence them are investigated managerial and political strategies which would enhance the competitiveness of the italian convention industry in the global market are proposed furthermore the study evaluates the use of the cluster theory in investigating the hospitality industry contributing to the debate on local tourism development

tourism as a long run economic growth factor the spanish case this paper examines the role of tourism in the spanish long run economic development the tourism led growth hypothesis is confirmed through cointegration and causality testing the results indicate that at least during the last three decades economic growth in spain has been sensible to persistent expansion of international tourism the increase of this activity has produced multiplier effects over time external competitivity has also been proved in the model to be a fundamental variable for spanish economic growth from the empirical analysis it can be inferred the positive effects on income that government policy in the adequacy of supply as well as in the promotion of tourist activity may bring about

exploring the relationship among co2 emissions real gdp energy consumption and tourism in the eu and candidate countries evidence from panel models robust to heterogeneity and cross sectional dependence a major criticism to the existing energy growth environment literature we notice is the selection of methodology panel estimation techniques that fail to consider both heterogeneity and cross sectional dependence across countries may cause forecasting errors the other concern related to the literature is that only a small number of studies analyze the influence of tourism on co2 emissions even though tourism sector has potential for affecting the environment to fulfill the mentioned gaps in the literature this study analyzes the relationship among carbon emissions real income energy consumption and tourism for a panel of the eu and candidate countries over the period 1995 2011 by using heterogeneous panel estimation techniques with cross sectional dependence results from the cadf and the cips panel unit root tests show that the analyzed variables become stationary at their first differences the lm bootstrap panel cointegration test indicates the presence of a long run relationship among the analyzed variables results from the ols with fixed effects the fmols the dols and the group mean estimator reveal that energy consumption contributes to the level of emissions while real income and tourism mitigate co2 emissions the emirmahmutoglu kose panel granger causality test suggests that there is one way causality running from tourism to carbon emissions and two way causality between co2 emissions and energy consumption and between real income and co2 emissions policy implications are further discussed

cointegration analysis of german and british tourism demand for greece abstract germany and great britain are traditionally two of the most important sources of tourism for greece the purpose of this paper is to investigate changes in the long run demand for tourism to greece by these two countries in order to explain the demand for tourism we are using a number of leading macroeconomic variables including income in origin countries germany and great britain tourism prices in greece and transportation cost and exchanges rates between the three countries annual data from the three countries covering the period from 1960 to 2000 are employed augmented dickey fuller test for unit root is examined in the univariate framework and johansen s maximum likelihood procedure is used to test the cointegration method and to estimate the number of cointegrating vectors of var model error correction models are estimated to explain german and british demand for tourism to greece

tourism and economic growth nexus revisited a panel causality analysis for the case of the mediterranean region abstract tourism is perceived as an important source of foreign exchange that is used for financing economic growth this study offers a modern approach to tourism led growth and investigates the causal relationship between tourism and economic growth in the european asian and african countries that border the mediterranean sea the study uses panel data for the period 1998 2011 and adopts a panel granger causality analysis developed by dumitrescu and hurlin 2012 to assess the contribution tourism makes to economic growth in each country the results indicate that the direction of causality between tourism and economic growth depends on the country group and tourism indicator furthermore the european countries are better able to generate growth from tourism in the mediterranean region

renewable energy consumption in eu 28 countries policy toward pollution mitigation and economic sustainability abstract a major challenge facing humans in the 21st century is how to strike a balance between the mitigation of environmental degradation and the achievement of sustainable economic growth on this note this investigation applies an autoregressive distributed lag ardl methodology to a panel data of 28 european union eu 28 countries over the period 1995 2015 the study confirms the existence of positive and significant long run nexus among environmental sustainability renewable energy consumption and economic growth in the eu 28 countries in addition empirical results indicate that real gross fixed capital formation carbon emissions and other environmental factors are principal determinants of long run growth in the eu using dumitrescu and hurlin 2012 granger non causality in heterogeneous panel results show long run bidirectional causal relationships among renewable energy consumption economic growth and other growth determinants based on these results we infer that the exploitation of renewable energy sources in the eu 28 countries is a reliable pathway toward environmental pollution mitigation consequently achieving sustainable development goals sdgs by the year 2030 through renewable energy consumption and carbon emission mitigation is very much achievable in the eu 28 countries and should also be adopted by all countries as an effective global policy

the impact of children on wages job tenure and the division of household labour in the absence of typical exclusion restrictions covariance restrictions are used to obtain estimates of the effects of children on household behaviour using data from the psid on two age samples children are found to have a significant impact on many household decisions however while in the young sample exogenous fertility cannot be rejected in the older sample this is not the case finally if the average household had one less child the male female wage differential would decrease by 9 5 there has been enormous interest in learning the impact of children on various household behaviours especially those of the mother in particular there has been much empirical research on the effect of fertility on female allocation and value of time angrist and evans 1998 gronau 1988 1977 1976 mroz 1987 rosenzweig and wolpin 1980 fleischer and rhodes 1979 cain and dooley 1976 heckman 1974 gronau 1973 etc in either case the inability to find appropriate instruments for fertility is troublesome fleischer and rhodes 1979 conclude that their inability to represent the fertility variable with a suitable instrument is disappointing and willis 1987 wrote i t has proven difficult to find enough well measured exogenous variables to permit cause and effect relationships to be extracted from correlations among factors such as the delay of marriage decline of childbearing growth of divorce and increased female labour force participation of related interest is the effect of fertility on market wages waldfogel 1998 hersch and stratton 1997 korenman and neumark 1992 hersch 1991 moore and wilson 1982 hill 1979 cain and dooley 1976 and male behaviour browning 1992 pencavel 1986 controlling for the endogeneity of fertility is likely to be vital in any model of household time allocation browning 1992 stated finally labor supply and fertility may be jointly determined either by basic economic principles or because in the population preferences for having children and for working at ajob are negatively correlated despite the theoretical claims the empirical question of whether or not fertility is endogenous has yet to be answered

investigating the influence of tourism on economic growth and carbon emissions evidence from panel analysis of the european union the study investigates the influence of tourism on economic growth and co2 emissions in the empirical analysis unit root and cointegration tests using panel data of european union countries from 1988 to 2009 are performed to examine the long run equilibrium relationship among tourism co2 emissions economic growth and foreign direct investment fdi results from panel cointegration techniques and fixed effects models indicate that a long run equilibrium relationship exists among these variables furthermore tourism co2 emissions and fdi have high significant positive effect on economic growth economic growth in turn shows a high significant positive impact on co2 emissions while tourism and fdi incur a high significant negative impact on co2 emissions

economic distance and the survival of foreign direct investments taking a theoretical perspective contrasting resource exploitation with resource exploration we argue that foreign direct investments fdis hazard rates are lower in countries that are either m

household specialization and the male marriage wage premium empirical research has consistently shown that married men have substantially higher wages on average than otherwise similar unmarried men one commonly cited hypothesis to explain this pattern is that marriage allows one spouse to specialize in market production and the other to specialize in home production enabling the former usually the husband to acquire more market specific human capital and ultimately earn higher wages the authors test this hypothesis using panel data from the national survey of families and households the data reveal that married men spent virtually the same amount of time on home production as did single men albeit on different types of housework estimates from a fixed effects wage equation indicate that the male marriage wage premium is not substantially affected by controls for home production activities household specialization the authors conclude does not appear to have been responsible for the marriage premium in this sample

housework fixed effects and wages of married workers although the primacy of household responsibilities in determining gender differences in labor market outcomes is universally recognized there has been little investigation of the direct effect of housework on wages using data from the panel study of income dynamics cross sectional wage regressions reveal a substantial negative relation between wages and housework for wives which persists in specifications controlling for individual fixed effects the evidence for husbands is inconclusive married women s housework time is on average three times that of married men s the addition of housework time to the wage equations increases the explained component of the gender wage gap from 27 30 percent to 38 percent

does foreign direct investment lead to lower co2 emissions evidence from a regional analysis in china abstract existing studies have been concerned with the relationship between foreign direct investment and co2 emissions in recent years however little attention has been paid to regional differences in china this paper investigates the impact of fdi on china s co2 emissions at the national and regional levels using provincial panel data from 1995 to 2010 the stochastic impacts by regression on population affluence and technology stirpat model was adopted the results suggest that fdi contributes to co2 emission reductions in china fdi s impact on co2 emissions decreases from the western region to the eastern and central regions our findings support the pollution halo hypothesis which claims that foreign firms can export greener technologies from developed to developing countries and conduct business in an environmentally friendly manner

change in energy related co2 carbon dioxide emissions in portuguese tourism a decomposition analysis from 2000 to 2008 abstract tourism is an activity with great potential in portugal at a time of economic crisis tourism is seen as an opportunity to boost the economy and provide sustainable economic growth this strategic path based on tourism has to be accomplished in order to make better use of the economic advantages but at the same time respecting the environment and environmental goals to which portugal is committed so it becomes important to analyze what effects contribute more to emissions in this sector as well as which tourism subsectors are more responsible for the increase of emissions the objective of this work is to identify the effects in which co2 carbon dioxide emissions in tourism can be broken down and analyzed as well as their evolution and which of them has more importance in determining emissions for that in this study a decomposition technique based on logarithmic mean divisia index was used in the 2000 2008 period for five tourism subsectors in portugal in general tourism activity is the most important effect energy mix carbon intensity and energy intensity effects also proved important

the effects of sons and daughters on men s labor supply and wages in this paper we estimate the effects of children and the differential effects of sons and daughters on men s labor supply and hourly wage rates the responses to fatherhood of two cohorts of men from the psid sample are examined separately and we use fixed effects estimation to control for unobserved heterogeneity we find that fatherhood significantly increases the hourly wage rates and annual hours of work for men from both cohorts most notably men s labor supply and wage rates increase more in response to the births of sons than to the births of daughters

reexamining the empirical evidence for an environmental kuznets curve this paper uses an updated and revised panel data set on ambient air pollution in cities worldwide to examine the robustness of the evidence for the existence of an inverted u shaped relationship between national income and pollution we test the sensitivity of the pollution income relationship to functional forms to additional covariates and to changes in the nations cities and years sampled we find that the results are highly sensitive to these changes and conclude that there is little empirical support for an inverted u shaped relationship between several important air pollutants and national income in these data

tourism development and economic growth a closer look at panels abstract this paper applies the new heterogeneous panel cointegration technique to re investigate the long run comovements and causal relationships between tourism development and economic growth for oecd and nonoecd countries including those in asia latin america and sub sahara africa for the 1990 2002 period on the global scale after allowing for the heterogeneous country effect a cointegrated relationship between gdp and tourism development is substantiated it is also determined that tourism development has a greater impact on gdp in nonoecd countries than in oecd countries and when the variable is tourism receipts the greatest impact is in sub sahara african countries additionally the real effective exchange rate has significant effects on economic growth finally in the long run the panel causality test shows unidirectional causality relationships from tourism development to economic growth in oecd countries bidirectional relationships in nonoecd countries but only weak relationships in asia our empirical findings have major policy implications

exploring the effects of international tourism on china s economic growth energy consumption and environmental pollution evidence from a regional panel analysis abstract this study explores the effects of international tourism on china s economic growth energy consumption and environmental pollution as proxied by co 2 emissions in a multivariate framework using regional panel data over the period 1995 2011 our findings suggest that the tourism induced ekc hypothesis does not exist in central china and is merely weakly supported in eastern and western china however results show that tourism has a negative impact on co 2 emissions in the eastern region which contradicts with our perception to some extent panel causality tests show that the directions of causality in both short and long runs are mixed among regions nevertheless our findings reveal that tourism causally affects economic growth and co 2 emissions in the long run thus tourism led growth hypothesis is verified under all three scenarios our findings also suggest that in all three regions there is bidirectional causality between economic growth and co 2 emissions overall these results imply that low carbon tourism in china should be continuously supported which provides significant insights to policy makers at various government levels

consumer rationality and the status quo received microeconomic theory presumes rational consumers maximize utility over all commodity bundles recent analysis however suggests that a consumer s status quo may limit economic rationality bias consumer decisions and induce serious errors in survey based valuations of public and private goods using regression and choice theoretic frameworks we investigate the existence of status quo effects in the consumer valuation of a particular unpriced product the reliability of residential electrical service such valuations have become important in electric utility resource planning and rate making we find substantial status quo effects which must be addressed in welfare comparisons regarding electric service reliability

tourism and economic development the beach disease abstract this paper analyses empirically the danger of a dutch disease effect in tourism dependent countries in the long run data on 134 countries of the world over the period 1970 2007 is used in a first step the long run relationship between tourism and economic growth is analysed in a cross country setting the results are then checked in a panel data framework on gdp per capita levels that allows to control for reverse causality non linearity and interactive effects it is found that there is no danger of a beach disease effect on the contrary tourism dependent countries do not face real exchange rate distortion and deindustrialisation but higher than average economic growth rates investment in physical capital such as for instance transport infrastructure is complementary to investment in tourism

a reconsideration of the fatherhood premium marriage coresidence biology and fathers wages past research that asserts a fatherhood wage premium often ignores the heterogeneity of fathering contexts i expect fatherhood to produce wage gains for men if it prompts them to alter their behavior in ways that increase labor market productivity identity theory predicts a larger productivity based fatherhood premium when ties of biology coresidence with the child and marriage to the child s mother reinforce one another making fatherhood and the role of financial provider in particular salient high in commitment and clear employer discrimination against fathers in less normative family structures may also contribute to variation in the fatherhood premium using fixed effects models and data from the 1979 cohort of the national longitudinal survey of youth nlsy79 i find that married residential biological fatherhood is associated with wage gains of about 4 percent but unmarried residential fathers nonresidential fathers and stepfathers do not receive a fatherhood premium married residen

considering the effect of biomass energy consumption on economic growth fresh evidence from brics region abstract this paper investigates the relationship between biomass energy consumption and economic growth by incorporating capital and trade openness in production function for the case of brics countries in doing so unit root and cointegration tests have been used in order to examine unit root properties and long run relationship between the series for the period of 1991q1 2015q4 the results confirm the presence of long run equilibrium relationship between the variables moreover biomass energy consumption stimulates economic growth capital increments economic growth and trade openness spurs economic growth the feedback effect exists between biomass energy consumption and economic growth trade openness granger causes economic growth capital and biomass energy consumption the policy to adopt biomass as the primary source of renewable energy helps brics countries to achieve sustainable development goal in both short run and long run however the key innovative point of this study is to establish the sign for granger causality test

tourism development energy consumption and environmental kuznets curve trivariate analysis in the panel of developed and developing countries abstract the study investigates the relationship between economic growth carbon dioxide emissions tourism development energy demand domestic investment and health expenditures with an aim to test the validity of the environmental kuznets curve ekc hypothesis in the panel of three diversified world s region including east asia pacific european union and high income oecd and non oecd countries the study covers the period of last nine years i e 2005 2013 the study used the principal component analysis pca to construct tourism development index which is the amalgamation of number of tourists arrivals tourism receipts and international tourism expenditures the results validate the inverted u shaped relationship between carbon emissions and per capita income in the region the results further substantiate the following causal relationships i e i tourism induced carbon emissions ii energy induced emissions iii investment induced emissions iv growth led tourism v investment led tourism and vi health led tourism development in the region

foreign direct investment and decoupling between energy and gross domestic product in developing countries on a sample of 20 developing countries we noticed a clear decline in the energy intensity as foreign direct investment increases the reason for that probably is the use of modern technologies that came with foreign direct investment i e a leapfrogging over the old fashioned traditional technologies in use in these countries

causality between income and emission a country group specific econometric analysis abstract empirical studies of the environmental kuznets curve ekc examine the presence or otherwise of an inverted u shaped relationship between the level of pollution and the level of income customarily in the diagram of ekc the level of income is shown on the horizontal axis and that of pollution on the vertical axis thus it is presumed that the relationship between income and pollution is one of unidirectional causality with income causing environmental changes and not vice versa the validity of this presumption is now being questioned it is being asserted that the nature and direction of causality may vary from one country to the other in this paper we present the results of a study of income co 2 emission causality based on a granger causality test to cross country panel data on per capita income and the corresponding per capita co 2 emission data briefly our results indicate three different types of causality relationship holding for different country groups for the developed country groups of north america and western europe and also for eastern europe the causality is found to run from emission to income for the country groups of central and south america oceania and japan causality from income to emission is obtained finally for the country groups of asia and africa the causality is found to be bi directional the regression equations estimated as part of the granger causality test further suggest that for the country groups of north america and western europe the growth rate of emission has become stationary around a zero mean and a shock in the growth rate of emission tends to generate a corresponding shock in the growth rate of income in contrast for the country groups of central and south america oceania and japan a shock in the income growth rate is likely to result in a corresponding shock in the growth rate of emission finally causality being bi directional for the country groups of asia and africa the income and the emission growth rates seemed to reinforce each other

carbon dioxide emission and income a temporal analysis of cross country distributional patterns the existence of a cointegrating relationship between income and co2 emission for individual country groups suggests existence of a corresponding relationship between the inter country disparities in the levels of income and co2 emission this paper explores the relationship between the patterns of cross country distribution of income and co2 emission and temporal shifts in such a relationship this paper also examines how the mean level of per capita co2 emission and its distributional inequality are related to the corresponding mean income level and the distributional inequality of income the analysis is based on a cross country panel data set at the level of country group environmental quality demanded is treated as a private good and not as a public good as done in most other studies the technique of lorenz and specific concentration curve analysis are used as the basic analytical framework to argue that a measure of relative distributional inequality of income should be used as an explanatory variable in the environmental kuznets curve ekc relationship along with the mean income level in the empirical exercise johansen s cointegration analysis technique is used to explore existence of statistically significant cointegrating vector s relating mean level of emission and specific concentration ratio scr of emission to mean income level and lorenz ratio lr of income the empirical results confirm that the pattern of cross country income distribution has significant effect on the mean level of emission for all the country groups considered

failure or voluntary exit reassessing the female underperformance hypothesis abstract we reevaluate the female underperformance hypothesis by challenging the assumption that female owned ventures are more likely to fail instead of equating exit with failure we draw on exit literature and feminist theories to argue that female entrepreneurs are actually more likely than males to exit voluntarily we argue for further gender differences by using an even more fine grained conceptualization of entrepreneurial exit failure exit for personal reasons and exit for other professional financial opportunities post hoc analyses also point to within gender heterogeneity depending on family status a sample probe of 219 spanish entrepreneurs who had exited their business supports our overall reasoning

international tourism energy consumption and environmental pollution the case of turkey abstract this study investigates the long run equilibrium relationship between tourism energy consumption and environmental degradation as proxied by carbon dioxide co 2 emissions in turkey which attracts more than 30 million tourists per year making it the sixth most visited country in the world the study results reveal that tourism and energy consumption are in a long term equilibrium relationship with co 2 emissions in the tourism induced model co 2 emissions converge to the long term equilibrium path by a 91 01 percent speed of adjustment every year through the channels of tourism energy consumption and aggregate income further the results of the impulse response and variance decompositions reveal that the reaction of energy consumption and therefore co 2 emissions to changes in tourism development is positive and gains strength in the longer periods this implies that tourism development in turkey has resulted not only in considerable increases in energy use but also considerable increases in climate change as demonstrated by the econometric analysis of this study

specialization then and now marriage children and the gender earnings gap across cohorts in this paper we examine the evolution of the gender gap associated with marriage and parental status comparing cohorts born between 1936 and 1985 the model of household specialization and division of labor introduced by becker posits that when forming households couples will exploit the gains from trade by having one spouse specialize in market work while the other specializes in household work given the historical advantage of men in the labor market the model predicts specialization by gender and therefore an earnings advantage for married men and an earnings disadvantage for married women is this model of specialization useful for understanding the evolution of the gender gap across generations of women and what about children academic papers have shown that wages of mothers are significantly lower than those of non mothers with similar human capital characteristics we do not attempt to build a structural model here but rather document how changing associations between marriage and earnings and between children and earnings have contributed to the gender gap in an accounting sense

dynamic linkages between sustainable tourism energy health and wealth evidence from top 80 international tourist destination cities in 37 countries this study examines the relationship between sustainable tourism energy health and wealth in a panel of 37 tourists induced countries that covered around top 80 international tourist destination cities the panel generalized method of moments gmm estimator is used to evaluate the dynamic linkages between the variables the results show that inbound tourism has a positive relationship with energy demand health expenditures per capita income fdi inflows trade and carbon dioxide co2 emissions while outbound tourism increases health expenditures international tourism receipts and global financial crisis increases greenhouse gas ghg emissions and co2 emissions respectively economic growth and trade openness both increases inbound tourism while fdi inflows increase tourism receipts the study confirms environmental kuznets curve ekc for co2 emissions and ghg emissions which eventually indicates that growth reduces the environmental impact of economic activity in the premises of international tourism indicators the results further validate the tourism led growth hypothesis in a panel of selected countries

is there a male marital wage premium new evidence from the united states this study reconsiders the phenomenon that married men earn more money than unmarried men a key result of the research on marriage benefits many earlier studies have found such a male marital wa

response bias in a conjoint analysis of power outages abstract a methodology is proposed for estimating status quo effects resistance to change and loss aversion willingness to pay is less than willingness to accept from consumer survey data conjoint data on israeli households attitudes to electricity outages reveal that both of these effects are pronounced and that they depend on the interviewees characteristics ordered conditional logit estimation indicates that while the estimates are rank sensitive the suggested methodology continues to be applicable finally the conjoint estimates are compared with those obtained by applying the method of contingent valuation

the impact of financial development on energy consumption in emerging economies abstract financial development is often cited as a very important driver of economic growth in emerging economies and it is thus likely that financial development affects energy demand this study uses generalized method of moments estimation techniques to examine the impact of financial development on energy consumption in a sample of emerging countries several different measures of financial development are examined using a panel data set on 22 emerging countries covering the period 1990 2006 the empirical results show a positive and statistically significant relationship between financial development and energy consumption when financial development is measured using stock market variables like stock market capitalization to gdp stock market value traded to gdp and stock market turnover the implications of these results for energy policy are discussed

does higher economic and financial development lead to environmental degradation evidence from bric countries abstract a vast number of studies addressed the environmental degradation and economic development but not financial development moreover as argued by stern 2004 the rise and fall of the environmental kuznets curve world development 32 1419 1439 they present important econometric weaknesses using standard reduced form modeling approach and controlling for country specific unobserved heterogeneity we investigate the linkage between not only economic development and environmental quality but also the financial development panel data over period 1992 2004 is used we find that both economic and financial development are determinants of the environmental quality in bric economies we show that higher degree of economic and financial development decreases the environmental degradation our analysis suggests that financial liberalization and openness are essential factors for the co 2 reduction the adoption of policies directed to financial openness and liberalization to attract higher levels of r d related foreign direct investment might reduce the environmental degradation in countries under consideration in addition the robustness check trough the inclusion of us and japan does not alter our main findings

income and co2 emissions evidence from panel unit root and cointegration tests abstract this paper re investigates the stationarity properties of per capita carbon dioxide co 2 emissions and real gross domestic product gdp per capita for 109 countries within seven regional panel sets covering 1971 2003 we apply the recent unit root test of the panel seemingly unrelated regressions augmented dickey fuller suradf test developed by breuer et al 2001 misleading inferences from panel unit root tests with an illustration from purchasing power parity review of international economics 9 482 493 2002 series specific unit root tests with panel data oxford bulletin of economics and statistics 64 527 546 the panel suradf test accounts for the presence of cross country correlations in the data and the parameters in the panel specification vary across countries more importantly this test allows us to identify how many and which members of the panel contain a unit root overall our empirical results illustrate that real gdp and co 2 emissions in these countries are a mixture of i 0 and i 1 processes and that the traditional panel unit root tests could lead to misleading inferences as well as the conduct of cointegration analysis being perhaps inappropriate the results of our analysis carry critical implications for the modeling of co 2 emissions and gdp because of the different orders of integration for the two variables

seasonality and regional productivity in the spanish accommodation sector abstract this study quantifies the impact of peak demand and seasonality on regional productivity in the spanish accommodation sector we then identify factors affecting seasonal fluctuations and their relative contributions to regional variations in seasonality the results show that demand for accommodation in the peak season mainly determines productivity thus improving a region s attractiveness as a tourist destination is most effective for tourism based regional development in addition reducing seasonal variations has a non negligible impact on productivity a decomposition analysis reveals that providing climate independent tourist attractions and attracting business travelers are effective in reducing seasonality

why wait the effect of marriage and childbearing on the wages of men and women we use data from the earlier and later cohorts of the nlsy to estimate the effect of marriage and childbearing on wages our estimates imply that marriage lowers female wages 2 4 percent in the year of marriage marriage also lowers the wage growth of men and women by about two and four percentage points respectively a first birth lowers female wages 2 3 percent but has no effect on wage growth male wages are unaffected by childbearing these findings suggest that early marriage and childbearing can lead to substantial decreases in lifetime earnings

the tourism economy causality in the united states a sub industry level examination abstract this study analyzes the relationships between the performance of four tourism related industries airlines casinos hotels and restaurants and gdp in the u s using cointegration and granger causality tests the results show no cointegration between economic growth and industry performance in the u s this suggests that mechanisms to increase the revenue of tourism related industries can potentially be successful in the long run even in the face of sustained economic stagnation the results also indicate a temporal causal hierarchy among industry performance which could be a good tool for timing and prioritizing the allocation of resources among industries to ensure better overall tourism and economic outcomes investors and managers could also use this temporal hierarchy to identify the best timing for investments and business strategies by observing performance trends of industries higher on the temporal hierarchy

the accumulation of dis advantage the intersection of gender and race in the long term wage effect of marriage a sizable literature examines whether and why marriage affects men s and women s wages this study advances current research in two ways first whereas most prior studies treat the effect of marri

the impact of financial development on carbon emissions an empirical analysis in china given the complexity between china s financial development and carbon emissions this paper uses some econometric techniques including cointegration theory granger causality test variance decomposition etc to explore the influence of financial development on carbon emissions results indicate that first china s financial development acts as an important driver for carbon emissions increase which should be taken into account when carbon emissions demand is projected second the influence of financial intermediation scale on carbon emissions outweighs that of other financial development indicators but its efficiency s influence appears by far weaker although it may cause the change of carbon emissions statistically third china s stock market scale has relatively larger influence on carbon emissions but the influence of its efficiency is very limited this to some extent reflects the relatively lower liquidity in china s stock markets finally among financial development indicators china s fdi exerts the least influence on the change of carbon emissions due to its relatively smaller volume compared with gdp but it is mainly utilized in carbon intensive sectors now therefore with the increase of china s fdi in the future many efforts should be made to adapt its utilizing directions and play its positive role in promoting low carbon development