Elasticities relevant to tourism in Scotland: evidence review
An overview of estimates of price elasticities of demand (PED) and income elasticities of demand (YED) for tourists to destinations relevant to Scotland; price elasticities of supply (PES) of commercial accommodation relevant to Scotland and other factors influencing the demand and supply of tourism.
Abbreviations
AB Arellano-Bond
ADLM Autoregressive distributed lag model
CGE Computable general equilibrium
CLSDV Corrected least square variable technique
CPI Consumer price index
CQRM Count quantile regression
DIFF Difference
DIST Distance
DOLS Dynamic OLS
EC-AIDS Error correction-Almost Ideal Demand System
ECM Error correction method
ESI Economic sentiment indicator
EX Exchange rate
FMOLS Fully modified OLS
GDP Gross domestic product
GLS Generalised least square
GMM Gaussian mixture model
HC Human capital
HCPI Harmonised CPI
ICT Information, communication and technology
IMF International monetary fund
IPI Industrial Production Index
IR Interest rate
JOH-ML Multivariate maximum likelihood procedure of Johansen
LCC Low cost carriers
LOS Length of Stay
OECD Organisation for Economic Co-operation and Development
OLS Ordinary Least Square
PCI Price competitive index
POP Population
PPP Power purchasing parity
RER Real exchange rate
RERV Real exchange rate volatility
SAR Spatial autoregressive model
SD Spatial Durbin model
SDE Spatial Durbin error model
SE Spatial error model
SLX Spatial lag X model
TO Bilateral trade openness
VAR Vector autoregression
VFR Visiting friends and relatives
WDI World development indicator
WLS Weighted least square
Contact
Email: juanmanuel.scarilli@gov.scot
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