Tax deduction or financial subsidy during crisis?: Effectiveness of fiscal policies as pandemic mitigation and recovery measures

Jean J. Chen, Richard T.R. Qiu, Xiaoying Jiao, Haiyan Song, Yuanjie Li

Research output: Journal article publicationJournal articleAcademic researchpeer-review

Abstract

Economic analysis of the tourism industry is a critical tool for local industries and governments to estimate, understand, and forecast the tourism potential and economic performance of a destination, especially amidst a crisis such as the COVID-19 pandemic. In this study, we take Macao as a case study, perform an analysis using an input-output framework. By constructing a tourism satellite account and a dynamic stochastic general equilibrium model, we estimate the contribution of the tourism industry to the economy of Macao and assess the ramifications of several government policies to mitigate the impact of COVID-19. Our findings provide the Macao government and local industrial stakeholders with critical information for pandemic mitigation and recovery strategies.

Original languageEnglish
Article number100106
JournalAnnals of Tourism Research Empirical Insights
Volume4
Issue number2
Early online date29 Aug 2023
DOIs
Publication statusPublished - Nov 2023

Keywords

  • Dynamic stochastic general equilibrium model
  • Input-output framework
  • Macao tourism industry
  • Pandemic mitigation policy
  • Tourism satellite account

ASJC Scopus subject areas

  • Geography, Planning and Development
  • Sociology and Political Science
  • Tourism, Leisure and Hospitality Management
  • Marketing

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