Misery index and outbound tourists: Data for Mexico

This document contains data to study the relationship between outbound tourists and the compensated misery index (CMI) proposed by Hortalà and Rey (2011).

I have computed an Unrestricted VAR model by using the CMI that I originally calculated to study the relationship between the number of international visitors in Mexico and the CMI, which was first shared in Sánchez (2021) (DOI: 10.17632/hzgysvg55k.1), and that I share in this document once again to have all the model variables in a single document. It is important to mention that no change has been done to the file containing the CMI.

To compute the model, I have also obtained the multilateral real exchange rate index with respect to 111 eleven countries and the number of outbound tourists. I used two exogenous variables to calculate the VAR. These variables are named Dummy 1 and Dummy 2.

Finally, I also share the Eviews file where I have computed the model.