A wavelet analysis for exploring the relationship between economic policy uncertainty and tourist footfalls in the USA. Issue 15 (14th September 2019)

• Record Type: Journal Article
• Authors: Singh, Ritu; Das, Debojyoti; Jana, R. K.; Tiwari, Aviral Kumar
• Is Part Of: Current issues in tourism. Volume 22:Issue 15(2019)
• Page Start: 1789
• Page End: 1796
• Publication Date: 2019-09-14
• Subjects: Economic policy uncertainty -- tourist footfalls -- wavelet; Tourism -- Social aspects -- Periodicals; Tourism -- Environmental aspects -- Periodicals; Travel -- Periodicals; 338.479105
• DOI: 10.1080/13683500.2018.1445204
• Languages: English
• ISSNs: 1368-3500

Abstract

ABSTRACT: We attempt to establish the relationship between Economic Policy Uncertainty (EPU) and international tourist footfalls in the USA. In the first stage, we investigate the influence of country-specific EPU and global EPU on tourist footfalls. Since, these two are overlapping in nature, in the second stage, we study the isolated influence of country-specific EPU on footfalls by eliminating the influence of global EPU and vice versa. We consider a study period spanning over January 1997 to April 2017. To capture the variations in the relationship at different time dimensions, we apply wavelet-based techniques. We observe the following: (a) the impact of policy uncertainty shock has a little immediate impact on tourist footfalls, (b) medium to long-run shocks persist due to occurrence of major undesirable economic events, and (c) the influence of domestic (country-specific) EPU is dominant in comparison to global EPU for the USA.