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However, simply because GDP is not readily available in month-to-month frequency, we as an alternative include export values of the origin countries, as all these countries are known for their significant exports . Also, we utilised the origin countries’ central bank discount-window interest rates as indicators of monetary policy. These interest rates are utilized as main monetary policy instruments and have direct effects on the bank deposit rates, therefore affecting the saving-consumption selection. We made use of these brief-term prices rather of the extended-term rates for the reason that of the former rates’ tighter connection with the monetary-policy stance. M2 has a tendency to be determined, for the most aspect, by revenue demand, although revenue provide and monetary policy can impact it. As a result, the extra exuberant the economic activity is, the quicker the raise in M2 must be.
Figure three.Impulse response functions, casino guests, Mainland China. Wu, S.-T. Chen, Y.-S. The social, economic and environmental impacts of casino gambling on the residents of Macau and Singapore. Wang, Y.S. The impacts of crisis events and macroeconomic activity on Taiwan’s international inbound tourism demand. Table four reports the Granger causality test benefits for the casino-visitors equation. The null hypothesis is that every single macroeconomic variable does not Granger-lead to casino visitors. The results in Table 4 indicate that macroeconomic variables do not Granger-lead to casino visitors.
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