Carbon price shocks and tourism demand

IF 10.4 1区管理学 Q1 HOSPITALITY, LEISURE, SPORT & TOURISM

Annals of Tourism Research Pub Date : 2024-07-22 DOI:10.1016/j.annals.2024.103813

David Boto-García , Juan Francisco Albert , Nerea Gómez-Fernández

引用次数: 0

Abstract

This article studies the effect of carbon prices on tourism demand. We adopt a novel identification strategy that exploits carbon price shocks induced by policy events on the supply of emission allowances in the European Trading System (EU ETS). Using monthly panel data on tourism arrivals and stays in 26 European countries between 2005 and 2019, and applying panel local projections, we find there is a ‘V’ shaped pattern. Impulse response estimates indicate that there is a transitory drop in arrivals of 2.5 percentage points in the first three months after a carbon price shock, but demand quicky reverts to the trend after six months. Our findings underscore the dynamic responses of tourism arrivals and stays to carbon regulatory policies.

查看原文本刊更多论文

碳价格冲击与旅游需求

本文研究了碳价格对旅游需求的影响。我们采用了一种新颖的识别策略，利用了欧洲贸易体系（EU ETS）中排放配额供应政策事件引发的碳价格冲击。利用 2005 年至 2019 年期间 26 个欧洲国家的月度旅游抵达和停留面板数据，并应用面板本地预测，我们发现存在 "V "型模式。脉冲响应估计表明，在碳价格冲击后的前三个月，入境游客会出现 2.5 个百分点的短暂下降，但六个月后需求会迅速恢复到趋势。我们的研究结果凸显了游客抵达和停留对碳监管政策的动态响应。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

求助全文

约1分钟内获得全文求助全文

来源期刊

Annals of Tourism Research Multiple-

CiteScore

19.10

自引率

9.10%

发文量

135

审稿时长

42 days

期刊介绍： The Annals of Tourism Research is a scholarly journal that focuses on academic perspectives related to tourism. The journal defines tourism as a global economic activity that involves travel behavior, management and marketing activities of service industries catering to consumer demand, the effects of tourism on communities, and policy and governance at local, national, and international levels. While the journal aims to strike a balance between theory and application, its primary focus is on developing theoretical constructs that bridge the gap between business and the social and behavioral sciences. The disciplinary areas covered in the journal include, but are not limited to, service industries management, marketing science, consumer marketing, decision-making and behavior, business ethics, economics and forecasting, environment, geography and development, education and knowledge development, political science and administration, consumer-focused psychology, and anthropology and sociology.