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http://dx.doi.org/10.7470/jkst.2016.34.1.095

The Development of Econometric Model for Air Transportation Demand Based on Stationarity in Time-series  

PARK, Jeasung (Department of Air Transport, Transportation and Logistics, Korea Aerospace University)
KIM, Byung Jong (Department of Air Transport, Transportation and Logistics, Korea Aerospace University)
KIM, Wonkyu (Department of Air Transport, Transportation and Logistics, Korea Aerospace University)
JANG, Eunhyuk (Department of Air Transport, Transportation and Logistics, Korea Aerospace University)
Publication Information
Journal of Korean Society of Transportation / v.34, no.1, 2016 , pp. 95-106 More about this Journal
Abstract
Air transportation demand is consistently increasing in Korea due to economic growth and low cost carriers. For this reason, airport expansion plans are being discussed in Korea. Therefore, it is essential to forecast reliable air transportation demand with adequate methods. However, most of the air transportation demand models in Korea has been developed by simple regression analysis with several dummy variables. Simple regression analysis without considering stationarity of time-series data can bring spurious outputs when a direct causal relationship between explanatory variables and dependent variable does not exist. In this paper, econometric model were developed for air transportation demand based on stationarity in time-series data. Unit root test and co-integration test are used for testing hypothesis of stationarity.
Keywords
air transportation demand; co-integration; econometric model; jeju international airport; stationarity; time series data;
Citations & Related Records
Times Cited By KSCI : 4  (Citation Analysis)
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