Application of VAR Model to Determine Sustainability of Short-Term Rental Accommodation

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dc.contributor.authorGuth, Karel
dc.contributor.authorAišmannová, Tereza
dc.contributor.authorBenešová, Irena
dc.contributor.otherEkonomická fakultacs
dc.date.accessioned2023-09-27T12:41:06Z
dc.date.available2023-09-27T12:41:06Z
dc.description.abstractPlatforms like Airbnb have fundamentally reshaped the hospitality sector as we have known it. With its distinctive model, short-term rentals (STR) have gained significant popularity among tourists and property owners alike. As the popularity of STR continues to grow, questions arise regarding its implications for sustainable tourism. In this paper, we investigate the impact of short-term rental accommodation on residential housing prices in the centre of Prague by employing an econometric analysis of time series. For this purpose, we apply the vector autoregressive (VAR) model. In the modelling, we use data on the numbers and locations of Airbnb listings alongside data on the average housing price per square meter. Other variables did not prove to be statistically significant in the equations. Firstly, the variables need to be tested for stationarity. Based on the detection of non-stationarity in the time series, the data are then transformed using the first differences. Finally, the variables are suitable for the estimation of their parameters. Subsequently, we present an impulse response analysis and plot a forecast. The prediction is then subject to the ex-post comparison, which visualises how the prognosis of the VAR model correlates with the real values.en
dc.formattext
dc.identifier.doi10.15240/tul/009/lef-2023-57
dc.identifier.isbn978-80-7494-627-1
dc.identifier.urihttps://dspace.tul.cz/handle/15240/172873
dc.language.isoen
dc.publisherTechnická Univerzita v Libercics
dc.publisherTechnical university of Liberec, Czech Republicen
dc.publisher.abbreviationTUL
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dc.relation.ispartofLiberecké ekonomické fórum 2023cs
dc.relation.ispartofLiberec Economic Forum 2023en
dc.subjectAirbnben
dc.subjectsharing economyen
dc.subjecthousing marketen
dc.subjectreal estate priceen
dc.subjecttourismen
dc.subject.classificationC32
dc.subject.classificationE37
dc.subject.classificationR31
dc.titleApplication of VAR Model to Determine Sustainability of Short-Term Rental Accommodationen
dc.typeproceeding paperen
local.accessopen
local.citation.epage547
local.citation.spage539
local.facultyFaculty of Economics
local.fulltextyes
local.relation.abbreviationLEFcs
local.relation.abbreviationLEFen
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