202
Views
7
CrossRef citations to date
0
Altmetric
Articles

Economic policy uncertainty and tourism nexus: time and frequency approaches

&
Pages 157-171 | Received 24 Aug 2020, Accepted 06 Dec 2021, Published online: 28 Dec 2021

References

  • Aguiar-Conraria, L., & Soares, M. J. (2014). The continuous wavelet transform: Moving beyond uni-and bivariate analysis. Journal of Economic Surveys, 28(2), 344–375. https://doi.org/10.1111/joes.12012
  • Andraz, J. M., & Rodrigues, P. M. (2016). Monitoring tourism flows and destination management: Empirical evidence for Portugal. Tourism Management, 56, 1–7. https://doi.org/10.1016/j.tourman.2016.03.019
  • Aprilani, T. L. (2021). Community perception on the development of the tourism industry in improving the welfare of the community in Mandalika KEK. Journal of Research in Business, Economics, and Education, 3(3), 1843–1856.
  • Aye, G., Gupta, R., Hammoudeh, S., & Kim, W. J. (2015). Forecasting the price of gold using dynamic model averaging. International Review of Financial Analysis, 41, 257–266. https://doi.org/10.1016/j.irfa.2015.03.010
  • Baker, S. R., Bloom, N., & Davis, S. J. (2016). Measuring economic policy uncertainty. The Quarterly Journal of Economics, 131(4), 1593–1636. https://doi.org/10.1093/qje/qjw024
  • Bekiros, S., Gupta, R., & Paccagnini, A. (2015). Oil price forecastability and economic uncertainty. Economics Letters, 132, 125–128. https://doi.org/10.1016/j.econlet.2015.04.023
  • Blackwell, M., & Olson, M. P. (2021). Reducing model misspecification and bias in the estimation of interactions. Political Analysis, 1–20. https://doi.org/10.1017/pan.2021.19
  • Bloomfield, D. S., McAteer, R. J., Lites, B. W., Judge, P. G., Mathioudakis, M., & Keenan, F. P. (2004). Wavelet phase coherence analysis: Application to a quiet-sun magnetic element. The Astrophysical Journal, 617(1), 623–632. https://doi.org/10.1086/425300
  • Breitung, J., & Candelon, B. (2006). Testing for short- and long-run causality: A frequency-domain approach. Journal of Econometrics, 132(2), 363–378. https://doi.org/10.1016/j.jeconom.2005.02.004
  • Calero, C., & Turner, L. W. (2020). Regional economic development and tourism: A literature review to highlight future directions for regional tourism research. Tourism Economics, 26(1), 3–26. https://doi.org/10.1177/1354816619881244
  • Chang, T., Chen, W. Y., Gupta, R., & Nguyen, D. K. (2015). Are stock prices related to the political uncertainty index in OECD countries? Evidence from the bootstrap panel causality test. Economic Systems, 39(2), 288–300. https://doi.org/10.1016/j.ecosys.2014.10.005
  • Chen, M. H., Liao, C. N., & Huang, S. S. (2010). Effects of shifts in monetary policy on hospitality stock performance. The Service Industries Journal, 30(2), 171–184. https://doi.org/10.1080/02642060802126684
  • Demir, E., Alıcı, Z. A., & Chi Keung Lau, M. (2017). Macro explanatory factors of Turkish tourism companies’ stock returns. Asia Pacific Journal of Tourism Research, 22(4), 370–380. https://doi.org/10.1080/10941665.2016.1271814
  • Demir, E., & Ersan, O. (2018). The impact of economic policy uncertainty on stock returns of Turkish tourism companies. Current Issues in Tourism, 21(8), 847–855. https://doi.org/10.1080/13683500.2016.1217195
  • Demir, E., Lau, C. K. M., & Alıcı, Z. A. (2015). Macro explanatory factors of Borsa Istanbul tourism index. Paper presented at World Finance and Banking Symposium 2015, Hanoi, Vietnam.
  • de Souza Neto, V. R., & Marques, O. (2021). Rural tourism fostering welfare through sustainable development: A conceptual approach. In V. R. de Souza Neto (Ed.), Rebuilding and restructuring the tourism industry: Infusion of happiness and quality of life (pp. 38–57). IGI Global.
  • Grinsted, A., Moore, J. C., & Jevrejeva, S. (2004). Application of the cross wavelet transform and wavelet coherence to geophysical time series. Nonlinear Processes in Geophysics, 11(5/6), 561–566. https://doi.org/10.5194/npg-11-561-2004
  • Grossmann, A., & Morlet, J. (1984). Decomposition of hardy functions into square integral wavelets of constant shape. SIAM Journal on Mathematical Analysis, 15(4), 723–736. https://doi.org/10.1137/0515056
  • Keele, L., Stevenson, R. T., & Elwert, F. (2020). The causal interpretation of estimated associations in regression models. Political Science Research and Methods, 8(1), 1–13. https://doi.org/10.1017/psrm.2019.31
  • Ko, J. H., & Lee, C. M. (2015). International economic policy uncertainty and stock prices: Wavelet approach. Economics Letters, 134, 118–122. https://doi.org/10.1016/j.econlet.2015.07.012
  • Lanzara, G., & Minerva, G. A. (2019). Tourism, amenities, and welfare in an urban setting. Journal of Regional Science, 59(3), 452–479. https://doi.org/10.1111/jors.12440
  • Loh, L. (2013). Co-movement of Asia-Pacific with European and US stock market returns: A cross-time-frequency analysis. Research in International Business and Finance, 29, 1–13. https://doi.org/10.1016/j.ribaf.2013.01.001
  • Perles-Ribes, J. F., Ramón-Rodríguez, A. B., Rubia-Serrano, A., & Moreno-Izquierdo, L. (2016). Economic crisis and tourism competitiveness in Spain: Permanent effects or transitory shocks? Current Issues in Tourism, 19(12), 1210–1234. https://doi.org/10.1080/13683500.2013.849666
  • Raza, S. A., Sharif, A., Wong, W. K., & Karim, M. Z. A. (2017). Tourism development and environmental degradation in the United States: Evidence from wavelet-based analysis. Current Issues in Tourism, 20(16), 1768–1790. https://doi.org/10.1080/13683500.2016.1192587
  • Tiwari, A. K., Mutascu, M., & Andries, A. M. (2013). Decomposing time-frequency relationship between producer price and consumer price indices in Romania through wavelet analysis. Economic Modelling, 31, 151–159. https://doi.org/10.1016/j.econmod.2012.11.057
  • Torrence, C., & Compo, G. P. (1998). A practical guide to wavelet analysis. Bulletin of the American Meteorological Society, 79(1), 61–78. https://doi.org/10.1175/1520-0477(1998)079<0061:APGTWA>2.0.CO;2
  • Torrence, C., & Webster, P. J. (1999). Interdecadal changes in the ENSO–monsoon system. Journal of Climate, 12(8), 2679–2690. https://doi.org/10.1175/1520-0442(1999)012<2679:ICITEM>2.0.CO;2
  • UNWTO. (2020). Impact assessment of the COVID 19 outbreak on international tourism. https://www.unwto.org/impact-assessment-of-the-covid-19-outbreak-on-international-tourism
  • Wu, T. P., & Wu, H. C. (2019). Causality between European economic policy uncertainty and tourism using wavelet-based approaches. Journal of Travel Research, 58(8), 1347–1356. https://doi.org/10.1177/0047287518803204
  • Wu, T. P., & Wu, H. C. (2021). Global economic policy uncertainty and tourism of fragile five countries: Evidence from time and frequency approaches. Journal of Travel Research, 60(5), 1061–1073. https://doi.org/10.1177/0047287520921245
  • Wu, T. P., Wu, H. C., Liu, S. B., Wu, C. F., & Wu, Y. Y. (2021a). Causality between global economic policy uncertainty and tourism in fragile five countries: A three-dimensional wavelet approach. Tourism Recreation Research, 1–15. https://doi.org/10.1080/02508281.2020.1870072
  • Wu, T. P., & Wu, H. C., Wang, C. M., Chen, F., Wu, S. T., & Liao, S. Y. (2021b). Decomposing a time-frequency relationship between economic policy uncertainty and tourism in the G8 countries through wavelet analysis. Journal of Policy Research in Tourism, Leisure and Events, 13(2), 266–284. https://doi.org/10.1080/19407963.2020.1793767
  • Wu, T. P., Wu, H. C., Wang, C. M., & Wu. Y. Y. (2021c). Causality between tourism and housing prices: A wavelet-based approach. Journal of Policy Research in Tourism, Leisure and Events. https://doi.org/10.1080/19407963.2021.1959339
  • Wu, T. P., Wu, H. C., Wu, C. F., Liu, C. Y., & Wu, H. (2021d). The influence of economic policy uncertainty on PIIGS tourism: Evidence from three-dimensional wavelet analyses. Tourism Analysis. https://doi.org/10.3727/108354220X15959905699422
  • Wu, T. P., & Wu, H. C., Wu, Y. Y., Wu, S. T., & Liao, S. Y. (2020). Causality between economic policy uncertainty and tourism using three-dimensional wavelet-based approaches. Journal of China Tourism Research. https://doi.org/10.1080/19388160.2020.1834482
  • Zaroki, S., Ezoji, H., & Sadati Amiri, S. R. (2018). Analysis of the role of tourism on economic welfare using panel data. Journal of Tourism Planning and Development, 7(26), 96–121. https://doi.org/10.22080/JTPD.2018.2043
  • Zhang, G., Han, J., Pan, Z., & Huang, H. (2015). Economic policy uncertainty and capital structure choice: Evidence from China. Economic Systems, 39(3), 439–457. https://doi.org/10.1016/j.ecosys.2015.06.003

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.