The objective of this paper is to study the various possible exchange rate strategies and its applications.For that,we use a game theoretical approach,first with a finite horizon,second with an infinite one.Two strategies are possible (“weak” and “strong”).Depending on the time horizon,the equilibrium solution leads to two main implications.First,in the finite horizon case,an optimal Pareto solution can only be attained if both players mutually agree not on disrupt each other’s expectations on the exchange rate.Secondly,in the infinite horizon situation,it is the interest of each player to address a clear and strong signal to the other about its own strategy.These results have some important policy implications.
The Tourism Satellite Account (TSA) is the newest method for measuring the impact of tourism on the economy in the world. There has been globally a big trend of development of TSAs after approved as an international standard by United Nations Statistical Commission (UNSC)in March of 2000. This research is a first pilot exercise of TSA method in China. The results of the study shown a better credibility and well expressed the economic importance of tourism activities.
