Estimating Price Effects in an Almost Ideal Demand Model of Outbound Thai Tourism to East Asia

This paper analyzes the responsiveness of Thai outbound tourism to East Asian destinations, namely China, Hong Kong, Japan, Taiwan and Korea, to changes in effective relative price of tourism, total real total tourism expenditure, and one-off events. The nonlinear and linear Almost Ideal Demand (AID) models are estimated with monthly data to identify the price competitiveness and interdependencies of tourism demand for competing destinations in both long run (static) and short run error correction (dynamic) specifications. The homogeneity and symmetry restricted long run and short run AID models are estimated to calculate elasticities. The income elasticities, and the compensated and uncompensated own-price and cross-price elasticities, provide useful information for public and private tourism agents at the various destinations to maintain and improve price competitiveness. The empirical results show that price competitiveness is important for tourism demand for Japan, Korea and Hong Kong in the long run, and for Hong Kong and Taiwan in the short run. With regard to long run cross-price elasticities, the substitution effect can be found in the following pairs of destinations: China-Korea, Japan-Hong Kong, Taiwan-Hong Kong, Japan-Korea, and Taiwan-Korea. In addition to the substitution effect, the complementary effect can be found in the following pairs of destinations: China-Hong Kong, China-Japan, China-Taiwan, Japan-Taiwan, and Korea-Hong Kong. Contrary to the findings obtained from the long run AID specification, Japan-Korea and Taiwan-Korea are complements in the short run. Furthermore, the real total tourism expenditure elasticities indicate that China’s share of real total tourism expenditure is inelastic in response to a change in real total tourism expenditure, while Korea’s share of real total tourism expenditure is most sensitive to changes in expenditure in the long run. The greatest impact on the share of real total tourism expenditure in the short run is tourism demand for Taiwan.tourism demand;almost ideal Demand (AID) model;compensated prices;budget shares;complements;error correction;monthly frequency;price competitiveness;substitutes;uncompensated prices

IV Estimation of a Panel Threshold Model of Tourism Specialization and Economic Development

The significant impact of international tourism in stimulating economic growth is especially important from a policy perspective. For this reason, the relationship between international tourism and economic growth would seem to be an interesting and topical empirical issue. The purpose of this paper is to investigate whether tourism specialization is important for economic development in 159 countries over the period 1989-2008. The results from panel threshold regressions show a positive relationship between economic growth and tourism. Instrumental variable estimation of a threshold regression is used to quantify the contributions of tourism specialization to economic growth, while correcting for endogeneity between the regressors and error term. The significant impact of tourism specialization on economic growth in most regressions is robust to different specifications of tourism specialization, as well as to differences in real GDP measurement. However, the coefficients of the tourism specialization variables in the two regimes are significantly different, with a higher impact of tourism on economic growth found in the low regime. These findings do not change with changes in the threshold variables. The empirical results suggest that tourism growth does not always lead to substantial economic growth.panel data;instrumental variables;economic development;international tourism;tourism specialization;cross-sectional data;threshold regression

Impurity scattering and Friedel oscillations in mono-layer black phosphorus

We study the effect of impurity scattering effect in black phosphorurene (BP) in this work. For single impurity, we calculate impurity induced local density of states (LDOS) in momentum space numerically based on tight-binding Hamiltonian. In real space, we calculate LDOS and Friedel oscillation analytically. LDOS shows strong anisotropy in BP. Many impurities in BP are investigated using $T$-matrix approximation when the density is low. Midgap states appear in band gap with peaks in DOS. The peaks of midgap states are dependent on impurity potential. For finite positive potential, the impurity tends to bind negative charge carriers and vise versa. The infinite impurity potential problem is related to chiral symmetry in BP

Risk Spillovers in Oil-Related CDS, Stock and Credit Markets

This paper examines risk transmission and migration among six US measures of credit and market risk during the full period 2004-2011 period and the 2009-2011 recovery subperiod, with a focus on four sectors related to the highly volatile oil price. There are more long-run equilibrium risk relationships and short-run causal relationships among the four oil-related Credit Default Swaps (CDS) indexes, the (expected equity volatility) VIX index and the (swaption expected volatility) SMOVE index for the full period than for the recovery subperiod. The auto sector CDS spread is the most error-correcting in the long run and also leads in the risk discovery process in the short run. On the other hand, the CDS spread of the highly regulated, natural monopoly utility sector does not error correct. The four oil-related CDS spread indexes are responsive to VIX in the short- and long-run, while no index is sensitive to SMOVE which, in turn, unilaterally assembles risk migration from VIX. The 2007-2008 Great Recession seems to have led to “localization†and less migration of credit and market risk in the oil-related sectors.adjustments;MOVE;SMOVE;VIX;risk,;sectoral CDS

Carrier leakage and temperature dependence of InGaAsP lasers

A direct measurement of electron and hole leakage in InGaAsP/InP lasers has been carried out. The effect of electron leakage on the temperature sensitivity of InGaAsP/InP lasers has been revealed

Measurement of the Dynamical Structure Factor of a 1D Interacting Fermi Gas

We present measurements of the dynamical structure factor $S(q,\omega)$ of an interacting one-dimensional (1D) Fermi gas for small excitation energies. We use the two lowest hyperfine levels of the $^6$Li atom to form a pseudo-spin-1/2 system whose s-wave interactions are tunable via a Feshbach resonance. The atoms are confined to 1D by a two-dimensional optical lattice. Bragg spectroscopy is used to measure a response of the gas to density ("charge") mode excitations at a momentum $q$ and frequency $\omega$. The spectrum is obtained by varying $\omega$, while the angle between two laser beams determines $q$, which is fixed to be less than the Fermi momentum $k_\textrm{F}$. The measurements agree well with Tomonaga-Luttinger theory

A current disruption mechanism in the neutral sheet for triggering substorm expansions

Two main areas were addressed in support of an effort to understand mechanism responsible for the broadband electrostatic noise (BEN) observed in the magnetotail. The first area concerns the generation of BEN in the boundary layer region of the magnetotail whereas the second area concerns the occassional presence of BEN in the neutral sheet region. For the generation of BEN in the boundary layer region, a hybrid simulation code was developed to perform reliable longtime, quiet, highly resolved simulations of field aligned electron and ion beam flow. The result of the simulation shows that broadband emissions cannot be generated by beam-plasma instability if realistic values of the ion beam parameters are used. The waves generated from beam-plasma instability are highly discrete and are of high frequencies. For the plasma sheet boundary layer condition, the wave frequencies are in the kHz range, which is incompatible with the observation that the peak power in BEN occur in the 10's of Hz range. It was found that the BEN characteristics are more consistent with lower hybrid drift instability. For the occasional presence of BEN in the neutral sheet region, a linear analysis of the kinetic cross-field streaming instability appropriate to the neutral sheet condition just prior to onset of substorm expansion was performed. By solving numerically the dispersion relation, it was found that the instability has a growth time comparable to the onset time scale of substorm onset. The excited waves have a mixed polarization in the lower hybrid frequency range. The imposed drift driving the instability corresponds to unmagnetized ions undergoing current sheet acceleration in the presence of a cross-tail electric field. The required electric field strength is in the 10 mV/m range which is well within the observed electric field values detected in the neutral sheet during substorms. This finding can potentially account for the disruption of cross-tail current and its diversion to the ionosphere to form the substorm current wedge. Furthermore, a number of features associated with substorm expansion onset can be understood based on this substorm onset scenario

The NLO QCD Corrections to BcB_c Meson Production in Z0Z^0 Decays

The decay width of $Z^0$ to $B_c$ meson is evaluated at the next-to-leading order(NLO) accuracy in strong interaction. Numerical calculation shows that the NLO correction to this process is remarkable. The quantum chromodynamics(QCD)renormalization scale dependence of the results is obviously depressed, and hence the uncertainties lying in the leading order calculation are reduced.Comment: 14 pages, 7 figures; references added; expressions and typos ammende