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Article

Juan Antonio Campos Soria and Luis Robles Teigeiro

The purpose of this study was to estimate the capacity of the predominant activity of the Hotel and Restaurant (H&R) sector to create female employment in European Union…

Abstract

Purpose

The purpose of this study was to estimate the capacity of the predominant activity of the Hotel and Restaurant (H&R) sector to create female employment in European Union (EU) countries.

Design/methodology/approach

The methodology used was conducted in two stages. First, a branch employment multiplier was calculated using the Leontief input-output tables (IOTs), which show the direct and indirect capacity of the activity to generate female employment. Second, a regression model was estimated to explain the determinants of the female employment multiplier in the H&R sector. It should be noted that the reliability and simplicity of the proposed model allows countries without IOTs, but with gender-disaggregated labor statistics, to easily estimate their own female employment multiplier.

Findings

The results show that the job-creation capacity of the H&R sector significantly varies across the EU countries, especially in relation to the female employment multiplier. Although international differences in gender wage gaps help to explain such multipliers, institutional factors and feminization rate also play a key role.

Research limitations/implications

The results may contribute to improving the actions of member states to stimulate the sustainable development of the tourism sector.

Originality/value

Based on previous literature, the finding that higher tourism expenditure may result in increases in tourism employment gives rise to another set of interesting questions. The most fundamental of these may concern the nature of the economic underpinnings of the growth of female employment. This paper contributes to this issue by conducting a specific analysis across EU countries using a homogenous and comparable methodology.

Details

International Journal of Contemporary Hospitality Management, vol. 31 no. 1
Type: Research Article
ISSN: 0959-6119

Keywords

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Article

Zaini Achmad

This paper aims to analyze the superior economic sector by looking at its contribution to the gross regional domestic product (GRDP) of East Kalimantan Province, the…

Abstract

Purpose

This paper aims to analyze the superior economic sector by looking at its contribution to the gross regional domestic product (GRDP) of East Kalimantan Province, the economic base, the multiplier effect and the strength of inter-sectoral linkages.

Design/methodology/approach

This study was designed through two research approaches, namely, quantitative and qualitative method. This is intended to complement the results of the phenomenon under study and to strengthen the analysis. Secondary data were analyzed by the level of contribution of the economic sectors to the GRDP, and the base sector was determined through the location quotient approach. The two methods of calculation helped to reveal the dominant economic sectors in East Kalimantan Province. The Input Output (IO) Table in 2016 was made up dated from the 2009 IO Table to be used as a basis for building Social Accounting Matrix data or known as the East Kalimantan Regional Socio-Economic Balance System (SEBS) (a matrix of 49 × 49 sectors) in 2017 by using the RAS method. To be consistent, these SEBS data are then aggregated so all commodities are combined into economic sectors used to determine the leading sector on the East Kalimantan Province SEBS in 2016 (a matrix of 41 × 41 sectors).

Findings

Based on the assessment by scoring of the criteria for determining the leading economic sectors in East Kalimantan, i.e. the contribution of the economic sector to GRDP, the economic base, the multiplier effect (income, production factor, and output) and the linkages between sectors, both backward and forward linkage, shows the ten leading sectors as follows: the trade; paper and printed goods; financial institutions and other financial services; fertilizer; chemical and other rubber products; hotel and restaurant; general government; fisheries; excavation; and mining without oil and gas.

Originality/value

Similar research has never been done before in East Kalimantan; this is one of the originalities of this present study. No previous study has comprehensively studied the mediating effects of tourist value perception on the determination of economic sector, especially in Kalimantan, Indonesia.

Details

Journal of Chinese Economic and Foreign Trade Studies, vol. 11 no. 3
Type: Research Article
ISSN: 1754-4408

Keywords

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Article

Elva Bova and Violeta Klyviene

This study analyses the impact of fiscal shocks on GDP, inflation and interest rates in Portugal over 1995–2017.

Abstract

Purpose

This study analyses the impact of fiscal shocks on GDP, inflation and interest rates in Portugal over 1995–2017.

Design/methodology/approach

Multipliers are estimated using a structural VAR (SVAR) a' la Blanchard and Perotti (2002) using OECD elasticities. Changes in direct and indirect taxes are considered for fiscal shocks on the revenue side and changes in public consumption, investment and transfers for fiscal shocks on the expenditure side.

Findings

The analysis finds small tax multipliers and larger government consumption multipliers for growth, while short-term responses to shocks in transfer and investment spending are found to be negligible. Fiscal shocks have an ambiguous impact on inflation, and fiscal shocks of an expansionary nature are found to trigger declines in interest rates. The results are robust to different orderings of variables, to the selection of an alternative time period which excludes the financial crisis and to an alternative estimation technique.

Research limitations/implications

A major limitation of the study relates to the relatively short time period which does not allow capturing the impact of possible structural breaks.

Practical implications

This analysis is relevant for countries, like Portugal, that display high debt levels and volatile market sentiment and lack an independent monetary policy.

Originality/value

Overall, the analysis of output multipliers compares well with some other studies conducted on the Portuguese economy and confirms the importance of the disposable income channel in the transmission of fiscal shocks to the rest of the economy. The study is one of the first to focus also on the implications of fiscal shocks on inflation and long-term interest rates. It is the first to apply the local projection method to estimate multipliers in Portugal.

Details

Journal of Economic Studies, vol. 47 no. 5
Type: Research Article
ISSN: 0144-3585

Keywords

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Article

Kai Kronenberg, Matthias Fuchs and Maria Lexhagen

Previous studies on tourism input-output (IO) primarily focus on a single year’s snapshot or utilize outdated IO coefficients. The purpose of this paper is to analyze the…

Abstract

Purpose

Previous studies on tourism input-output (IO) primarily focus on a single year’s snapshot or utilize outdated IO coefficients. The purpose of this paper is to analyze the multi-period development of regional tourism capacities and its influence on the magnitude of the industry’s regional economic contribution. The paper highlights the importance of applying up-to-date IO coefficients to avoid estimation bias typically found in previous studies on tourism’s economic contribution.

Design/methodology/approach

For the period 2008-2014, national IO tables are regionalized to estimate direct and indirect economic effects for output, employment, income and other value-added deffects. A comparison of Leontief inverse matrices is conducted to quantify estimation bias when using outdated models for analyzing tourism’s economic contribution.

Findings

On the one hand, economic linkages strengthened, especially for labour-intensive sectors. On the other hand, sectoral recessions in 2012 and 2014 led to an economy-wide decline of indirect effects, although tourists’ consumption was still increasing. Finally, estimation bias observed after applying an outdated IO model is quantified by approximately US$4.1m output, 986 jobs full-time equivalents, US$24.8m income and US$14.8m other value-added effects.

Research limitations/implications

Prevailing assumptions on IO modelling and regionalization techniques aim for more precise survey-based approaches and computable general equilibrium models to incorporate net changes in economic output. Results should be cross-validated by means of qualitative interviews with industry representatives.

Practical implications

Additional costs for generating IO tables on an annual base clearly pay off when considering the improved accuracy of estimates on tourism’s economic contribution.

Originality/value

This study shows that tourism IO studies should apply up-to-date IO models when estimating the industry’s economic contribution. It provides evidence that applying outdated models involve the risk of estimation biases, because annual changes of multipliers substantially influence the magnitude of effects.

Abstract

Details

Further Documents from the History of Economic Thought
Type: Book
ISBN: 978-1-84950-493-5

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Article

Efstratios Loizou, Fotios Chatzitheodoridis, Anastasios Michailidis, Meropi Tsakiri and Giorgos Theodossiou

The purpose of this paper is to reveal the dynamics of the Greek energy sector. As energy sectors contribute substantially to a national economy and stimulate national…

Abstract

Purpose

The purpose of this paper is to reveal the dynamics of the Greek energy sector. As energy sectors contribute substantially to a national economy and stimulate national output and employment, it is important to identify their upward and downward linkages and interrelations with the other sectors of the economy.

Design/methodology/approach

To do this and capture such relations in the economy, a general equilibrium model is used. In specific, input–output (I–O) analysis is used and a model is specifically built for the Greek economy to examine in detail the energy sectors. Multiplier and linkage analysis is performed to assess their dynamics in terms of output, household income and employment.

Findings

Results indicate that the three energy sectors’ multipliers and elasticities, though are not ranking in the first places, are enough high indicating their strong linkages in the economy and their potentials to enhance the economy’s total output, employment and household income.

Research limitations/implications

Further disaggregation of the economy’s energy sectors is needed to make clearer the separation among renewable and non-renewable sector, to identify and compare the dynamics and contribution of each category in the economy. Additionally, an environmental I–O model would indicate consequences on the environment and not just pure economic benefits.

Practical implications

Through the analysis, it can be seen that energy sectors and secondary energy products have the ability to drive a country’s economic activity through exports and intersectoral linkages, even if it is not a crude petroleum producing economy. Thus, knowledge of the economic impacts of such sectors is a valuable information.

Originality/value

The current study provides significant information of an economy’s energy sectors regarding their ability to support economic activity and employment. A general equilibrium model is used, examining the whole economy, to assess direct and indirect interrelationships.

Details

International Journal of Energy Sector Management, vol. 9 no. 3
Type: Research Article
ISSN: 1750-6220

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Book part

Luca Fiorito

According to Clark (1935a, b), if the various studies on the secondary effects of public works expenditures are examined, two main approaches to the analysis of the…

Abstract

According to Clark (1935a, b), if the various studies on the secondary effects of public works expenditures are examined, two main approaches to the analysis of the problem are revealed: “one via successive cycles of income and spending by ultimate recipients of income” – which the Columbia economist termed the “Kahn-Keynes” approach – “the other via the volume of money and its velocity of circulation.” As is well known, in the first approach, business fluctuations are seen primarily as a consequence of fluctuations in current investment. Accordingly, the amount of the secondary effects is determined by: (a) the amount of the net increase in investment; (b) the marginal propensity to consume; and (c) the length of the income propagation period. As it appears from the above, in the “Kahn-Keynes” analysis of the secondary expansion, money plays only a passive role.

Details

A Research Annual
Type: Book
ISBN: 978-0-76231-089-0

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Abstract

Details

New Directions in Macromodelling
Type: Book
ISBN: 978-1-84950-830-8

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Article

Norbert Vanhove

To measure the economic impact of tourism several indicators are mentioned in the literature. Variables which are mentioned very often are: Expenditure, income…

Abstract

To measure the economic impact of tourism several indicators are mentioned in the literature. Variables which are mentioned very often are: Expenditure, income, employment, foreign exchange earnings, tax receipts, investments, social benefits, tourism multiplier, etc...

Details

The Tourist Review, vol. 48 no. 2
Type: Research Article
ISSN: 0251-3102

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Book part

Luca Fiorito and Matias Vernengo

In a recent paper (Fiorito & Vernengo, 2009), the present writers have dealt with John Maurice Clark's contribution to macroeconomics in the 1930s with a special, but not…

Abstract

In a recent paper (Fiorito & Vernengo, 2009), the present writers have dealt with John Maurice Clark's contribution to macroeconomics in the 1930s with a special, but not exclusive, emphasis on its relationship to the Keynesian revolution. The general framework of Clark's aggregate analysis can be traced in a series of scattered contributions centering on the efficacy and consequences of countercyclical fiscal policy. Albeit offering a qualified support for a program of public works, Clark was concerned with the inflationary consequences of Keynesian policies, once the economy approached full employment. Clark was also dissatisfied with those interpretations of the income flow analysis, which came to be known as “Hydraulic Keynesianism” that led to the development of the so-called neoclassical synthesis.

Details

Research in the History of Economic Thought and Methodology
Type: Book
ISBN: 978-1-78052-006-3

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