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| Rupika Khanna and Chandan Sharma |
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| ''COVID-19 and volatility in the tourism sector's stocks'' |
| ( 2022, Vol. 42 No.4 ) |
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| This study examines effects of COVID-19 on volatility of hospitality sector stocks in United States. Using a daily dataset, our analysis offers a comparative picture of the sub-sectors, viz. airline, gambling, hotel, restaurant and travel. We use three crucial measures of intensity of pandemic and related stringencies in our analysis. For estimation, we utilize GARCH based models and measured symmetric as well as asymmetric effects. Our findings show for a sizable effect of the COVID-19 outbreak on the volatility of hospitality stocks. Specifically, our results demonstrate that highest level of uncertainty is observed in travel followed restaurant sector. |
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| Keywords: COVID-19, tourism, volatility |
JEL: L8 - Industry Studies: Services: General
G1 - General Financial Markets |
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| Manuscript Received : Oct 14 2021 | | Manuscript Accepted : Dec 30 2022 |
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