Technical Analysis of Tourism Price Process in the Eurozone

This study is a specific contribution to investigating normalities in prices to a well-established cointegrated vector autoregressive model (VAR). While the role of prices in computational economics has been investigated, the real prices vis-à-vis nominal prices in the decision process has been negl...

Descripción completa

Guardado en:

Detalles Bibliográficos
Autores principales:	Sergej Gričar, Štefan Bojnec
Formato:	article
Lenguaje:	EN
Publicado:	MDPI AG 2021
Materias:	Eurozone managerial planning nominal prices real prices spatial consolidated CVAR model the tourism sector Risk in industry. Risk management HD61 Finance HG1-9999
Acceso en línea:	https://doaj.org/article/366a48ea1994461ca14420b0787ed8a4
Etiquetas:	Agregar Etiqueta Sin Etiquetas, Sea el primero en etiquetar este registro!

id	oai:doaj.org-article:366a48ea1994461ca14420b0787ed8a4
record_format	dspace
spelling	oai:doaj.org-article:366a48ea1994461ca14420b0787ed8a42021-11-25T18:08:30ZTechnical Analysis of Tourism Price Process in the Eurozone10.3390/jrfm141105171911-80741911-8066https://doaj.org/article/366a48ea1994461ca14420b0787ed8a42021-10-01T00:00:00Zhttps://www.mdpi.com/1911-8074/14/11/517https://doaj.org/toc/1911-8066https://doaj.org/toc/1911-8074This study is a specific contribution to investigating normalities in prices to a well-established cointegrated vector autoregressive model (VAR). While the role of prices in computational economics has been investigated, the real prices vis-à-vis nominal prices in the decision process has been neglected. The paper investigates the transition from nominal to real time-series of prices without losing information in the data set when deflating or de-seasonalizing. The likelihood approach is based on careful specifications of the (co)integration characteristics of tourism prices. The results confirm that the transmission of tourism prices in the Eurozone positively impacts Slovenian tourism prices when the spatial consolidated cointegrated VAR model is used. The theoretical-conceptual and empirical contribution is twofold: first, the study develops and empirically applies bona fide divisor of normality consolidation for time-series in levels instead of routinely utilised inflation integers, and second, the study introduces perfection of prices on a long-run time-series treatment.Sergej GričarŠtefan BojnecMDPI AGarticleEurozonemanagerial planningnominal pricesreal pricesspatial consolidated CVAR modelthe tourism sectorRisk in industry. Risk managementHD61FinanceHG1-9999ENJournal of Risk and Financial Management, Vol 14, Iss 517, p 517 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	Eurozone managerial planning nominal prices real prices spatial consolidated CVAR model the tourism sector Risk in industry. Risk management HD61 Finance HG1-9999
spellingShingle	Eurozone managerial planning nominal prices real prices spatial consolidated CVAR model the tourism sector Risk in industry. Risk management HD61 Finance HG1-9999 Sergej Gričar Štefan Bojnec Technical Analysis of Tourism Price Process in the Eurozone
description	This study is a specific contribution to investigating normalities in prices to a well-established cointegrated vector autoregressive model (VAR). While the role of prices in computational economics has been investigated, the real prices vis-à-vis nominal prices in the decision process has been neglected. The paper investigates the transition from nominal to real time-series of prices without losing information in the data set when deflating or de-seasonalizing. The likelihood approach is based on careful specifications of the (co)integration characteristics of tourism prices. The results confirm that the transmission of tourism prices in the Eurozone positively impacts Slovenian tourism prices when the spatial consolidated cointegrated VAR model is used. The theoretical-conceptual and empirical contribution is twofold: first, the study develops and empirically applies bona fide divisor of normality consolidation for time-series in levels instead of routinely utilised inflation integers, and second, the study introduces perfection of prices on a long-run time-series treatment.
format	article
author	Sergej Gričar Štefan Bojnec
author_facet	Sergej Gričar Štefan Bojnec
author_sort	Sergej Gričar
title	Technical Analysis of Tourism Price Process in the Eurozone
title_short	Technical Analysis of Tourism Price Process in the Eurozone
title_full	Technical Analysis of Tourism Price Process in the Eurozone
title_fullStr	Technical Analysis of Tourism Price Process in the Eurozone
title_full_unstemmed	Technical Analysis of Tourism Price Process in the Eurozone
title_sort	technical analysis of tourism price process in the eurozone
publisher	MDPI AG
publishDate	2021
url	https://doaj.org/article/366a48ea1994461ca14420b0787ed8a4
work_keys_str_mv	AT sergejgricar technicalanalysisoftourismpriceprocessintheeurozone AT stefanbojnec technicalanalysisoftourismpriceprocessintheeurozone
_version_	1718411552088915968

Technical Analysis of Tourism Price Process in the Eurozone

Ejemplares similares