Table 6. Macroeconomic Variables and Pax (1)
Dependent variable : Ln(Pax) |
상수항 | -1.8782(-0.71) | -1.9658(-1.40) | -11.7979***(-3.54) | -9.6024***(-4.15) |
Ln(GDP) | 1.3694***(6.45) | 1.5179***(11.89) | 1.3433***(12.20) | 1.5068***(14.79) |
USD | | -0.0013***(-7.87) | | -0.0011***(-5.56) |
WTI | | -0.0049***(-3.02) | | -0.0045***(-3.44) |
CCI | | | 0.0605**(2.00) | 0.0581**(2.65) |
Employment | | | 0.0769***(4.61) | 0.0324**(2.15) |
Sentiment | | | -0.0046**(-2.00) | -0.0032(-1.36) |
PCR | | | 0.0535*(1.89) | 0.0310*(1.83) |
Adj.R2 | 0.7821 | 0.8857 | 0.8362 | 0.9027 |
F.Stat | 241.51*** | 174.03*** | 69.42*** | 89.83*** |
# of Obs | 68 | 68 | 68 | 68 |
Durbin-Watson | | | | 1.96 |
Notes: This table reports that relationship between macro- economic variables and international air passenger demand. The number in parentheses is the Newey- West adjusted t value.
indicate significant levels at 10%, 5% and 1%, respectively.