Search results for "Income Elasticity"
showing 7 items of 7 documents
Is there an environmental Kuznets curve for Spain? Fresh evidence from old data
2012
Abstract The information content of the environmental Kuznets curve (EKC) is subject to change over time and all the empirical modeling work that does not take into account the possible variations and instabilities may fail to explain the variations in the per-capita CO2 and per-capita income relationship. In this paper we consider the possibility that a linear cointegrated regression model with multiple structural changes would provide a better empirical description of the Spanish EKC during the period 1857–2007. Our methodology is based on instability tests recently proposed in Kejriwal and Perron (2008, 2010) as well as on cointegration tests developed in Arai and Kurozumi (2007) and Kej…
Demographic change, tourism expenditure and life cycle behavior
2015
Abstract The paper explores how demographic changes in human populations may impact on tourism decision-making of households over their life cycle. By means of hurdle models, the study focuses respectively on the decision to travel domestically or abroad and investigates if statistically significant differences exist as to the impact of age and cohort on the decision to travel and tourism expenditure. Using a vast dataset on Italian Household Expenditures over the period 1997–2007 the empirical results show that demographic aspects do have a strong effect on the tourism behaviour of families and that cohort and age effects act differently on the decision of households to make a trip and on …
Is participation in the tourism market an opportunity for everyone? Some evidence from Italy
2016
This paper investigates whether there are differences in tourism consumption behaviour among families by analysing the main determinants of tourism participation at national and international levels. In particular, it explores whether tourism is becoming part of the lifestyle of Italians or whether it is still a luxury good only for the privileged. A Heckman model was used on micro-data on Italian family expenditure over the period 1997–2007, and an income elasticity analysis for different personal and household characteristics was carried out. The results show that participation in the tourism market is strongly affected by the personal characteristics of individuals and that tourism cons…
A Hierarchical Model for Analysing Consumption Patterns in Italy Before and During the Great Recession
2016
The paper aims to explore how the Great Recession of the twenty-first century has impacted on the consumption behaviour of Italian households. Following a hierarchical approach, the study investigates differences in consumption behaviour at both household and regional levels. Using micro data on Italian Household Expenditure for the years 2002, 2006, 2010 and 2012, multilevel and two-step regression models have been estimated. The analysis has been performed for four different consumption categories: food, housing, work-related and leisure. The analysis reveals that the economic crisis led to increasing income elasticity for each category of consumption, especially for food, the most essent…
Is Participation in Tourism Market an Opportunity for Everyone? Some Evidence from Italy
2014
Exploring the main determinants of tourism participation at national and international level, the paper investigates if there are differences in tourism consumption behavior among Italian families which reflect disparities in their standard of living. To achieve this a Heckman model has been used on a huge sample of Italian households over the period 1997-2007. Results show that participation in the tourism market is strongly affected by the personal characteristics of individuals and that tourism consumption is an income sensitive good. The analysis reveals that tourism is generally a luxury good reflecting the disparities in the standard of living among Italian families. We have found tha…
The relationship between environmental values and income in a transition economy: surface water quality in Latvia
2002
A contingent valuation study measured citizen willingness to pay (WTP) for an improvement in surface water quality in Latvia. The average respondent was willing to pay 0.7 per cent of household income for the environmental improvement, but that amount was much less than needed to finance the required investments in treatment facilities. While the income elasticity of WTP for the average resident was low (0.56), it increases as income increases, reaching 0.9 at an income level double the current average. As real incomes increase in Latvia, the demand for environmental quality by citizens can be expected to increase substantially.
PERMANENT INCOME, CONVERGENCE AND INEQUALITY AMONG COUNTRIES
2008
The literature on inequality has generally focused on the analysis of annual per capita income. This paper adopts a different approach by considering the life-cycle dimension of inequality and convergence between economies from 1960 to 2000. We analyze the present value of the set of incomes individuals obtain throughout their whole life (permanent income). On the basis of this approach, various simulations are made to determine the effect on inequality in permanent income of variables such as survival rates and the long-run growth rates in current income. The results indicate that survival rates are an important source of inequality. Inequality in permanent income is about one third higher…