Browsing by Subject "Dynamic panel data"

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    ‘Investing’ in care for old age? An examination of long-term care expenditure dynamics and its spillovers
    (2023-01) Costa Font, Joan; Vilaplana Prieto, Cristina; Fundamentos del Análisis Económico
    We study the dynamic drivers of expenditure on long-term care (LTC) programmes, and more specifically, the effects of labour market participation of traditional unpaid caregivers (women aged 40 and older) on LTC spending, alongside the spillover effects of a rise in LTC expenditure on health care expenditures (HCE) and the economy (per capita GDP). Our estimates draw from a panel of more than a decade worth of expenditure data from a sample of OECD countries. We use a panel vector auto-regressive (panel-VAR) system that considers the dynamics between the dependent variables. We find that LTC expenditure increases with the rise of the labour market participation of the traditional unpaid caregiver (women over 40 years of age), and that such expenditures rise exerts large spillover effects on health spending and the economy. We find that a 1% increase in female labour participation gives rise to a 1.48% increase in LTC expenditure and a 0.88% reduction in HCE. The effect of LTC spending over HCE is mainly driven by a reduction in inpatient and medicine expenditures, exhibiting large country heterogeneity. Finally, we document significant spillover effects of LTC expenditures on per capita GDP.
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    Nonconstant reputation effect in a dynamic tourism demand model for Spain
    (2016) Albaladejo Pina, Isabel; González Martínez, María Isabel; Martínez-García, María Pilar; Métodos Cuantitativos para la Economía y la Empresa
    Following the ideas of the Tourism Area Life Cycle (TALC) theory, we propose a dynamic econometric model for tourism demand where the reputation effect (the effect of the lagged demand on the current tourism demand) is not constant, but dependent on congestion. We test the model using panel data from Spanish regions during the period 2000-2013. Two estimations are performed depending on whether the tourists’ origin is domestic or international. The results show that the reputation effect is not constant in both estimates, supporting the idea that tourism congestion influences tourist arrivals in Spain