Tourism expenditure model — a functional planning and policy-making tool

The Tourism Expenditures Model (TEM) is a short-run systems model which at both the national and regional level can provide a detailed analysis of the nature of tourism-related expenditures. The tourism-related sectors covered are transportation, accommodation, meals and beverages, recreation and entertainment and other purchases disaggregated with respect to time, region and economic subsector. The model is intended to help in the evaluation and planning of specific tourism proposals and in the development of the industry as a whole.     

Begriffliches und Terminologisches zur Kapitalstheorie

Ohne ZusammenfassungNach einem einen Diskussionsabend der Nationalökonomischen Gesellschaft in Wien einleitenden Referat.     

Country size and the trade effects of the euro

This paper investigates whether small countries gain relatively more than large countries from an ‘expansion’ of their market through the creation of a single currency. The introduction of the euro offers a particularly valuable source to test this hypothesis, which we motivate using the theoretical model by Casella of the year 1996. Our results from a panel data analysis, using both aggregate and disaggregated trade data, point to a statistically significant but quantitatively moderate small country bonus. On average, the euro has led to an improvement of the small euro area’s relative export performance by 3–9%.