206 research outputs found
THREE ESSAYS ON TOURISM DEMAND AND ECONOMIC DEVELOPMENT IN THE UNITED STATES
The global tourism industry has experienced sustained growth over the years even in the face of economic shocks. International travel for tourism purposes continues to grow albeit at different rates in developed and developing countries. The trend is suggestive of the significant impact of tourism on the global economy and social phenomena since the last century. A similar trend is observed in the United States as tourism contributes to the economy by generating revenues and creating jobs. The United States is a significant player in global tourism, being the largest exporter and the second largest importer of tourism. It is also the leading recipient of revenues from international tourists (ITA-NTTO, 2015). The growing relevance of tourism to economic development in the United States underscores the need to explore the nature of this relationship. This study, therefore, investigates the relationship between tourism demand and economic growth in three papers.
The first essay discusses the nature of the causal linkages between tourism and economic growth and how these respond to shocks in the system using the Autoregressive Distributed Lag model, the Impulse Response Function, and the Generalized Variance Decomposition respectively. The second essay investigates the economic growth and disaggregated tourism industries including accommodation, air transportation, shopping, food and beverage, other transportation, and recreation and entertainment. The paper employed the ARDL Bounds test and the Toda-Yamamoto Augmented Granger causality test to determine the direction of causality. In the third essay, I use a variety of econometric methods within the gravity model framework to highlight the static and dynamic determinants of inbound tourism to the United States. The findings from these essays confirm the economic-driven tourism growth (EDTG) hypothesis when aggregate tourism data is used. When disaggregated, the results show causality running from economic growth to each of the six tourism sub-industries. The results also emphasize the importance of some push and pull factors that influence U.S. tourism demand. The gravity variable such as incomes of the origin and destination countries and distance are significant determinants of inbound tourism to the U.S. Other economic, demographic, cultural, government policies, and incidental factors have a significant influence on tourism demand. The study further confirms the Linder hypothesis in the U.S. tourism literature and observe that habit persistence and/or word-of-mouth drive foreign visit to the United States
Using SAP R/3 To Teach Fixed Asset Accounting And Business Process Reporting
This paper describes a simulation model specifically for the Financial Accounting Information Systems course – an SAP enabled course for junior Accounting majors. Supporting and measuring the Supply Chain through technology is a key goal of Accounting and should therefore be reflected in an Accounting curriculum. It will assist students to learn both the benefits, and costs, involved with implementing ERP software. The purpose of this case is to present students with a set of business scenarios, and allow for the students to make educated and knowledgeable decisions using the SAP R/3 software. The scenarios will act as a simplified replication of the business environment; thus, they will provide the students with an integrated learning experience. Students make business decisions to ensure the profitability and cash flow of their respective product lines. While making these decisions, students participate in the application and analysis provided by IDES, the simulated company integrated into the SAP system. Eventually, they will need to justify the existence of their division by presenting profitability analysis.  To provide a “learning-by-doing” experience, the scenarios will be used to demonstrate the reporting functionality within IDES. Today’s global economy is putting a premium on the ability of students to evaluate a broad range of decisions in collaboration with adaptive supply chains. A critical component of the evolving accounting curriculum lies in the ability to extend students beyond the numbers to evaluate the effective and efficient delivery of these supply chains. This paper includes our Fixed Asset Explorer Scenario, as well as a Capital Budgeting Analysis using Microsoft Excel
Robust determination of the major merger fraction at z = 0.6 in Groth Strip
(Abridged) We measure the fraction of galaxies undergoing disk-disk major
mergers (f_m) at intermediate redshifts (0.35 <= z < 0.85) by studying the
asymmetry index A of galaxy images. Results are provided for B- and Ks-band
absolute magnitude selected samples from the Groth strip in the GOYA
photometric survey. Three sources of systematic error are carefully addressed:
(i) we avoid morphological K-corrections, (ii) we measure asymmetries in
artificially redshifted to z_d = 0.75 galaxies to lead with loss of
morphological information with redshift, and (iii) we take into account the
observational errors in z and A, that tend to overestimate the merger fraction,
by maximum likelihood techniques. We find: (i) our data allow for a robust
merger fraction to be provided for a single redshift bin centered at z=0.6.
(ii) Merger fractions have low values: f_m = 0.045 for M_B <= -20 galaxies, and
f_m = 0.031 for M_Ks <= -23.5 galaxies. And, (iii) failure to address the
effects of the observational errors leads to overestimating f_m by factors of
10%-60%. Combining our results with those on literature, and parameterizing the
merger fraction evolution as f_m(z) = f_m(0)(1+z)^m, we obtain that m = 2.9 +-
0.8, and f_m(0) = 0.012 +- 0.004$. Assuming a Ks-band mass-to-light ratio not
varying with luminosity, we infer that the merger rate of galaxies with stellar
mass M >= 3.5x10^10 M_Sun is R_m = 1.6x10^-4 Mpc^-3 Gyr^-1. When we compare
with previous studies at similar redshifts, we find that the merger rate
decreases when mass increases.Comment: Accepted for publication in ApJ. 11 pages, 7 figures, 3 tables.
Formatted with emulateap
Kinematic properties of early-type galaxy haloes using planetary nebulae
We present new planetary nebulae (PNe) positions, radial velocities, and
magnitudes for 6 early-type galaxies obtained with the Planetary Nebulae
Spectrograph, their two-dimensional velocity and velocity dispersion fields. We
extend this study to include an additional 10 early-type galaxies with PNe
radial velocity measurements available from the literature, to obtain a broader
description of the outer-halo kinematics in early-type galaxies. These data
extend the information derived from stellar kinematics to typically up to ~8
Re. The combination of photometry, stellar and PNe kinematics shows: i) good
agreement between the PNe number density and the stellar surface brightness in
the region where the two data sets overlap; ii) good agreement between PNe and
stellar kinematics; iii) that the mean rms velocity profiles fall into two
groups: with of the galaxies characterized by slowly decreasing profiles and
the remainder having steeply falling profiles; iv) a larger variety of velocity
dispersion profiles; v) that twists and misalignments in the velocity fields
are more frequent at large radii, including some fast rotators; vi) that outer
haloes are characterised by more complex radial profiles of the specific
angular momentum-related lambda_R parameter than observed within 1Re; vii) that
many objects are more rotationally dominated at large radii than in their
central parts; and viii) that the halo kinematics are correlated with other
galaxy properties, such as total luminosity, isophotal shape, total stellar
mass, V/sigma, and alpha parameter, with a clear separation between fast and
slow rotators.Comment: 36 pages, 21 figures, revised version for MNRA
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The Density Profiles of Massive, Relaxed Galaxy Clusters. II. Separating Luminous and Dark Matter in Cluster Cores
We present stellar and dark matter (DM) density profiles for a sample of
seven massive, relaxed galaxy clusters derived from strong and weak
gravitational lensing and resolved stellar kinematic observations within the
centrally-located brightest cluster galaxies (BCGs). In Paper I of the series,
we demonstrated that the total density profile derived from these data, which
span 3 decades in radius, is consistent with numerical DM-only simulations at
radii >~ 5-10 kpc, despite the significant contribution of stellar material in
the core. Here we decompose the inner mass profiles of these clusters into
stellar and dark components. Parametrizing the DM density profile as a power
law rho_DM ~ r^{-\beta} on small scales, we find a mean slope = 0.50 +-
0.10 (random) +0.14-0.13 (systematic). Alternatively, cored Navarro-Frenk-White
(NFW) profiles with = 1.14 +- 0.13 (random) +0.14-0.22
(systematic) provide an equally good description. These density profiles are
significantly shallower than canonical NFW models at radii <~ 30 kpc,
comparable to the effective radii of the BCGs. The inner DM profile is
correlated with the distribution of stars in the BCG, suggesting a connection
between the inner halo and the assembly of stars in the central galaxy. The
stellar mass-to-light ratio inferred from lensing and stellar dynamics is
consistent with that inferred using stellar population synthesis models if a
Salpeter initial mass function is adopted. We compare these results to theories
describing the interaction between baryons and DM in cluster cores, including
adiabatic contraction models and the possible effects of galaxy mergers and
active galactic nucleus feedback, and evaluate possible signatures of
alternative DM candidates.Comment: Updated to matched the published version in Ap
The slope of the mass profile and the tilt of the fundamental plane in early-type galaxies
We present a survey, using the Chandra X-ray observatory, of the central
gravitating mass profiles in a sample of 10 galaxies, groups and clusters,
spanning ~2 orders of magnitude in virial mass. We find the total mass
distributions from ~0.2--10Re, where Re is the optical effective radius of the
central galaxy, are remarkably similar to powerlaw density profiles. The
negative logarithmic slope of the mass density profiles, alpha, systematically
varies with Re, from alpha=2, for systems with Re~4kpc to alpha=1.2 for systems
with Re>30kpc. Departures from hydrostatic equilibrium are likely to be small
and cannot easily explain this trend. We show that the conspiracy between the
baryonic (Sersic) and dark matter (NFW/ Einasto) components required to
maintain a powerlaw total mass distribution naturally predicts an
anti-correlation between alpha and Re that is very close to what is observed.
The systematic variation of alpha with Re implies a dark matter fraction within
Re that varies systematically with the properties of the galaxy in such a
manner as to reproduce, without fine tuning, the observed tilt of the
fundamental plane. We speculate that establishing a nearly powerlaw total mass
distribution is therefore a fundamental feature of galaxy formation and the
primary factor which determines the tilt of the fundamental plane.Comment: 10 pages, 5 figures, 2 tables. Accepted for publication in MNRAS.
Minor revisions to match accepted versio
Galaxy growth by merging in the nearby universe
We measure the mass growth rate by merging for a wide range of galaxy types.
We present the small-scale (0.014 < r < 11 h70^{-1} Mpc) projected
cross-correlation functions w(rp) of galaxy subsamples from the spectroscopic
sample of the NYU VAGC (5 \times 10^5 galaxies of redshifts 0.03 < z < 0.15)
with galaxy subsamples from the SDSS imaging (4 \times 10^7 galaxies). We use
smooth fits to de-project the two-dimensional functions w(rp) to obtain smooth
three-dimensional real-space cross-correlation functions \xi(r) for each of
several spectroscopic subsamples with each of several imaging subsamples.
Because close pairs are expected to merge, the three-space functions and
dynamical evolution time estimates provide galaxy accretion rates. We find that
the accretion onto massive blue galaxies and onto red galaxies is dominated by
red companions, and that onto small-mass blue galaxies, red and blue galaxies
make comparable contributions. We integrate over all types of companions and
find that at fixed stellar mass, the total fractional accretion rates onto red
galaxies (\sim 1.5 h70 percent per Gyr) is greater than that onto blue galaxies
(\sim 0.5 h70 percent per Gyr). Although these rates are very low, they are
almost certainly over-estimates because we have assumed that all close pairs
merge as quickly as dynamical friction permits.Comment: submitted to APJ on 08/20/201
Red Nuggets at z~1.5: Compact passive galaxies and the formation of the Kormendy Relation
We present the results of NICMOS imaging of a sample of 16 high mass
passively evolving galaxies with 1.3<z<2, taken primarily from the Gemini Deep
Deep Survey. Around 80% of galaxies in our sample have spectra dominated by
stars with ages >1 Gyr. Our rest-frame R-band images show that most of these
objects have compact regular morphologies which follow the classical R^1/4 law.
These galaxies scatter along a tight sequence in the Kormendy relation. Around
one-third of the massive red objects are extraordinarily compact, with
effective radii under one kiloparsec. Our NICMOS observations allow the
detection of such systems more robustly than is possible with optical
(rest-frame UV) data, and while similar systems have been seen at z>2, this is
the first time such systems have been detected in a rest-frame optical survey
at 1.3<z<2. We refer to these compact galaxies as "red nuggets". Similarly
compact massive galaxies are completely absent in the nearby Universe. We
introduce a new "stellar mass Kormendy relation" (stellar mass density vs size)
which isolates the effects of size evolution from those of luminosity and color
evolution. The 1.1 < z < 2 passive galaxies have mass densities that are an
order of magnitude larger then early type galaxies today and are comparable to
the compact distant red galaxies at 2 < z < 3. We briefly consider mechanisms
for size evolution in contemporary models focusing on equal-mass mergers and
adiabatic expansion driven by stellar mass loss. Neither of these mechanisms
appears able to transform the high-redshift Kormendy relation into its local
counterpart. Comment: Accepted version (to appear in ApJ
Gravitational Quenching by Clumpy Accretion in Cool Core Clusters: Convective Dynamical Response to Overheating
Many galaxy clusters pose a "cooling-flow problem", where the observed X-ray
emission from their cores is not accompanied by enough cold gas or star
formation. A continuous energy source is required to balance the cooling rate
over the whole core volume. We address the feasibility of a gravitational
heating mechanism, utilizing the gravitational energy released by the gas that
streams into the potential well of the cluster dark-matter halo. We focus here
on a specific form of gravitational heating in which the energy is transferred
to the medium thorough the drag exerted on inflowing gas clumps. Using
spheri-symmetric hydro simulations with a subgrid representation of these
clumps, we confirm our earlier estimates that in haloes >=10^13 solar masses
the gravitational heating is more efficient than the cooling everywhere. The
worry was that this could overheat the core and generate an instability that
might push it away from equilibrium. However, we find that the overheating does
not change the global halo properties, and that convection can stabilize the
cluster by carrying energy away from the overheated core. In a typical rich
cluster of 10^{14-15}solar masses, with ~5% of the accreted baryons in gas
clumps of ~10^8 solar masses, we derive upper and lower limits for the
temperature and entropy profiles and show that they are consistent with those
observed in cool-core clusters. We predict the density and mass of cold gas and
the level of turbulence driven by the clump accretion. We conclude that
gravitational heating is a feasible mechanism for preventing cooling flows in
clusters.Comment: 16 pages, 7 figures, accepted by MNRA
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