I want to analyse the interactions between the following data:
- tourist arrivals (my variable of interest)
- income of the tourists
- accomodation capacity (in number of rooms in hotels)
- a confidence index (an index asking "how do you evaluate your current financial situation?")
My thesis is that tourist arrivals are mostly influenced by the confidence of tourists in the short term, and by accomocation capacity in the long run. So, I estimated a VAR with these variables (monthly data), and want to make this analysis via impulse response fonctions. My expectation is that the confidence has a high impact on arrivals in the first months and then fades away. The accomodation capacity on the other hand, has a lasting impact.
But, the problem is that I need to see the simulataneous interactions between variables; how the accomodation capacity and confidence affect tourist arrivals in the same month. How can I do that?
Eviews does not allow to make a lag=0 VAR.
Is this normal? If so, why can't I make a lag=0 VAR?
Thank you very much!
How to estimate a VAR with simultaneous shocks?
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