The structure of tourist expenditure in Fiji : evidence from unit root structural break tests

The central aim of this paper is to investigate whether shocks to Fiji's tourism industry have a permanent effect or a transitory effect on tourist expenditure in Fiji. To accomplish this aim the Zivot and Andrews (1992) one break test and the Lumsdaine and Papell (1997) two break tests are used. The one break and two break tests reveal 1987 - the year of the military coups in Fiji - as the year of the break. Moreover, it is possible to reject the unit root null leading to the conclusion that shocks to Fiji's tourism industry have a transitory effect on tourist expenditure in Fiji.

Are OECD stock prices characterized by a random walk? Evidence from sequential trend break and panel data models

This paper examines whether stock prices for a sample of 22 OECD countries can be best represented as mean reversion or random walk processes. A sequential trend break test proposed by Zivot and Andrews is implemented, which has the advantage that it can take account of a structural break in the series, as well as panel data unit root tests proposed by Im et al., which exploits the extra power in the panel properties of the data. Results provide strong support for the random walk hypothesis.

Prison architecture and privatisation : project delivery in the Australian context

The study is a comparison of the relationship between the architect and associated parties in the planning, design and construction of private and public prisons in Australia between 1985-2000.

Utilizing and adapting leisure constraints models to enhance 'short-break' vacations : case study of Melbourne, Australia

Short-break tourism is likely to continue as a popular vacation for time-, income- and special interest conscious tourists. With the competition for visitors, destinations need to consider the constraints and facilitators associated with tourist decision-making for short-break vacations. This study presents the application of a leisure model toward better explaining such vacation choices. This study found key constraints, such as time and awareness, inhibited visitors from visiting attractions. The importance and influence of word-of-mouth recommendations plays a key role in gaining the attention of future visitors.