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The state of air transport markets and the airline industry after the great recession
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The state of air transport markets and the airline industry after the great recession (2012)The state of air transport markets and th…The Holy Grail of Macroeconomics: Lessons from Japan's Great Recession (2009)The Holy Grail of Macroeconom…The state of Africa's air transport market amid COVID-19, and forecasts for recovery (2023)The state of Africa's air tra…Pre-and Post-COVID-19 condition, performance and future of the airline industry: Evidence from accounting data (2021)Pre-and Post-COVID-19 conditi…How do changes in economic activity affect air passenger traffic? 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The generous support for this work is most gratefully acknowledged. The author is also much indebted to his colleagues Professors Bishop, Christenson, Kahr, Raiffa, and (especially) Schlaifer, for extensive discussion and commentary on an earlier draft of this paper; but responsibility for any errors or imperfections remains strictly his own.[Professor Sharpe's paper, “Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk” (Journal of Finance, September 1964) appeared after this paper was in final form and on its way to the printers. My first section, which parallels the first half of his paper (with corresponding conclusions), sets the algebraic framework for sections II, III and VI, (which have no counterpart in his paper) and for section IV on the equilibrium prices of risk assets, concerning which our results differ significantly for reasons which will be explored elsewhere. 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References

  • 2009The Holy Grail of Macroeconomics: Lessons from Japan's Great Recession408 cited

Cited by

  • 2017Balanced scorecard based performance measurement of European airlines using a hybrid multicriteria decision making approach under the fuzzy environment136 cited
  • 2016Impact of fuel price fluctuations on airline stock returns74 cited
  • 2014The aviation value chain: Economic returns and policy issues67 cited
  • 2014Analytic Hierarchy Process assessment for potential multi-airport systems – The case of Cape Town66 cited
  • 2016Airport classification based on cargo characteristics56 cited
  • 2021How do changes in economic activity affect air passenger traffic? The use of state-dependent income elasticities to improve aviation forecasts40 cited
  • 2021Economic policy uncertainty and analyst behaviours: Evidence from the United Kingdom38 cited
  • 2018On the impact of jet fuel cost on airlines’ capacity choice: Evidence from the U.S. domestic markets35 cited
  • 2018Persistent and Transient Efficiency of International Airlines31 cited
  • 2015Throughput accounting and performance of a manufacturing company under stochastic demand and scrap rates31 cited
  • 2021Pre-and Post-COVID-19 condition, performance and future of the airline industry: Evidence from accounting data30 cited
  • 2011Why does the airline industry over-invest?28 cited

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  • 2015Austerity in public transport in Europe: The influence of governance21 cited
  • 2015Performance Trends of Hotels and Casino Hotels Through the Recession: An ARIMA With Intervention Analysis of Stock Indices21 cited
  • 2023The state of Africa's air transport market amid COVID-19, and forecasts for recovery19 cited
  • 2018The spatial and temporal dimensions of the interdependence between the airline industry and the Chinese economy17 cited