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on Tourism Economics |
| By: | Victor Matheson (Department of Economics, College of the Holy Cross) |
| Abstract: | Developing countries that host mega-events such as the Olympic Games and World Cup invest enormous sums in stadiums and collateral infrastructure projects. The rapid investment in long-lasting physical stocks raises questions of equity and efficiency for national taxpayers and event attendees. This paper reviews several cases of historical and recent mega-events to assess the infrastructure costs, returns on infrastructure investments, and impacts of the events on urban development patterns. It will highlight cases where mega-event investments contributed to long-term economic growth. |
| Keywords: | sports, stadiums, development, impact analysis, Olympics, World Cup, tourism |
| JEL: | L83 O18 R53 |
| Date: | 2012–09 |
| URL: | http://d.repec.org/n?u=RePEc:hcx:wpaper:1203&r=tur |
| By: | Herrera , Pablo Matías; Masci, Martín Ezequiel |
| Abstract: | The term “macroprudential” is usually used in different ways. Sometimes it refers to macroprudential analysis, others to macro-prudential oversight and it also speaks of macroprudential regulation. In this paper, taking into account these concepts, an analysis of what is meant by macroprudential authority, how should it be implemented and should have powers to ensure the stability of the entire financial system is going to be done. Referring to the local economy, the Charter Reform of the Central Bank of Argentina has entered into force. In regard to financial regulation, within the reform, and unlike it was in force since 1992, it aims to not only to monitor, but to implement regulations on the local financial system to avoid the frequent abuses by various entities . To perform the analysis of the implementation of a macroprudential authority in Argentina, it is going to be considered the evolution of a particular sector of the real economy, namely tourism. Finally, a measure of this economic sector, that should to detect potential problems in the financial system, is proposed. |
| Keywords: | Macroprudential Regulation; Macroprudential Authority; Charter Reform |
| JEL: | E02 C82 E58 C81 |
| Date: | 2012–08 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:41591&r=tur |
| By: | Sébastien Roussel; Jean-Michel Salles; Léa Tardieu |
| Abstract: | Natural areas are essentially multifunctional, contributing in multiple ways to human well-being. Ecosystem goods and services are provided through ecosystem func- tions (regulation, habitat, production and information). Among the multiple services provided by natural areas, recreational services are increasingly valuable. The main objective of our paper is to evaluate the recreation demand of the Sensitive Natural Areas(SNA) public policy in the Hérault District (Languedoc-Roussillon Region, France). These natural areas are acquired as land ownership by the Hérault District to ensure their protection from urban pressure and making them free to access. We highlight the recreation bene ts in a Cost-Bene t Analysis (CBA) whilst measuring [...]. |
| Date: | 2012–09 |
| URL: | http://d.repec.org/n?u=RePEc:lam:wpaper:12-30&r=tur |
| By: | Fischer, Justina AV |
| Abstract: | One solution to the euro crisis as a debt crisis can be found in stimulating economic growth. The Troika has proposed measures to deregulate labor markets in Southern EU countries: a longer working week, relaxation of job dismissal laws, raising the age of retirement. A longer working week for the same pay is the same as a de facto wage cut. A loosening of dismissal laws can be seen as an attempt to increase worker productivity against the threat of disciplinary action but may also increase the willingness of employers to take on new staff. Raising the age of retirement helps ease the labor cost burden on employers. Due to the structural differences in the economies of Southern Europe, a programme of deregulation based on lower wages only will not solve the euro crisis. Only in the case of Greece, Europe’s biggest 'problem child', would a general wage cut lead to improved competitiveness – regardless of the pain such a reform would cause. This is because Greece’s neighbours Turkey and Bulgaria, both offer the same products in the areas of tourism (“Sun, Sea and Sand”) and regional foodstuffs (olive oil, ewe’s milk cheese) but at a lower price. On the other hand, for Spain and Portugal efforts to stimulate innovation and increase productivity in the major industrial and agricultural businesses are recommended, while in Italy improving the quality in its luxury sector (wine, design, cultural tourism) would seem to make better sense than deregulating their lbor markets. It is also open to debate whether a foreign company would base its decision to locate to a particular European country solely on the existence of a flexible low wage sector. Europe has other factors in its favour such as high educational levels, a well-developed infrastructure, political and social stability as well as local cultural highlights and a high quality natural environment; labour-intensive industrial mass production is offered far cheaper in China and Vietnam. Of equal importance is the Troika’s insistence on combating nepotism and corruption. An economic policy that promotes productivity and quality will in the long run also prevent the creation of extreme disparities in income and thereby ensure social cohesion. |
| Keywords: | Euro; Eurocrisis; debt crisis; labor market; deregulation; EU; Greece; Italy; Spain; Portugal |
| JEL: | F15 F34 K31 F33 J83 H63 |
| Date: | 2012–09–24 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:41543&r=tur |