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英文文献：On the impact of exchange rate regimes on tourism-汇率制度对旅游业的影响
英文文献作者：María Santana-Gallego,Francisco J. Ledesma-Rodríguez,Jorge V. Pérez-Rodríguez
英文文献摘要：
The main objective of this paper is to analyze the effect of the exchange rate arrangements on international tourism. The ambiguity of literature about the effect of exchange rate volatility contrasts with the magnitude of the impact of a common currency on trade. On the basis of a gravity equation we estimate a moderate effect of a currency union on tourism of almost 12%. Furthermore, we estimate a gravity equation for international trade, obtaining that the common currency effect on trade is reduced when tourism is introduced as a regressor. This suggests that tourism flows may contribute to explain the excessive magnitude of the estimated effect of a common currency on trade in this literature. Finally, we analyze the impact of several de facto exchange rate arrangements on tourism, finding that less flexible exchange rates promotes tourism flows.
本文的主要目的是分析汇率安排对国际旅游的影响。关于汇率波动的影响的文献的模糊性与一种共同货币对贸易的影响程度形成对比。根据重力方程，我们估计货币联盟对旅游业的中等影响约为12%。此外，我们估计了一个国际贸易的重力方程，得出当引入旅游业作为回归变量时，共同货币对贸易的影响会减少。这表明，在本文献中，旅游流量可能有助于解释一种共同货币对贸易的估计影响的过度规模。最后，我们分析了几种实际汇率安排对旅游的影响，发现较不灵活的汇率促进了旅游流量。
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