Social Sciences
4 years ago

Permanent shocks drive economy, transitory shocks fuel tourism spending at business cycles.

SSRN Electronic Journal
Are Shocks to Tourism Transitory at Business Cycle Horizons
Paresh Kumar Narayan

Paper Summary

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The article examines how different types of shocks affect tourist spending and GDP in Australia. Permanent shocks mainly impact GDP, while transitory shocks have a bigger effect on tourist spending.