Abstract
ABSTRACT Regarding the huge negative effects of the COVID-19 pandemic on the tourism market of the US, we investigate the persistent degree of the shocks to three markets: overseas, Canada, and Mexico. To measure persistence degree and its dynamics, we apply the Fourier quantile unit root test and rolling-window indirect inference estimators. Overall results indicate (i) negative shocks to the US’ tourist markets have more long-lasting effects than positive ones, (ii) degree of persistence of all three markets increased due to the COVID-19 pandemic, and (iii) Canada tourist marker displays more persistence behaviour than the other two markets.
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