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Travel hysteresis in the Brazilian current account

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  • Sergio Da Silva

    ()
    (Department of Economics, Federal University of Santa Catarina)

  • Guilherme Moura

    ()
    (Department of Economics, Pontifical Catholic University of Minas Gerais)

  • Roberto Meurer

    ()
    (Department of Economics, Federal University of Santa Catarina)

Abstract

The strong Brazilian currency between 1994 and 1998 led Brazilians to an unprecedented increase in their travels abroad. Even after the 1999 currency crisis, travel patterns did not recover to their pre-exchange rate devaluation levels. The occasional exchange rate valuation has left long-lasting effects by changing habits, and thereby generating a travel hysteresis in the Brazilian current account.

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File URL: http://www.accessecon.com/pubs/EB/2005/Volume6/EB-05F40003A.pdf
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Bibliographic Info

Article provided by AccessEcon in its journal Economics Bulletin.

Volume (Year): 6 (2005)
Issue (Month): 24 ()
Pages: 1-17

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Handle: RePEc:ebl:ecbull:eb-05f40003

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  1. Roberts, Mark A. & McCausland, W. David, 1999. "Multiple international debt equilibria and irreversibility," Economic Modelling, Elsevier, vol. 16(2), pages 179-188, April.
  2. Baldwin, Richard & Krugman, Paul, 1989. "Persistent Trade Effects of Large Exchange Rate Shocks," The Quarterly Journal of Economics, MIT Press, vol. 104(4), pages 635-54, November.
  3. Baldwin, Richard, 1988. "Hyteresis in Import Prices: The Beachhead Effect," American Economic Review, American Economic Association, vol. 78(4), pages 773-85, September.
  4. McCausland, W David, 2002. "Exchange Rate Hysteresis: The Effects of Overshooting and Short-Termism," The Economic Record, The Economic Society of Australia, vol. 78(240), pages 60-67, March.
  5. Dixit, Avinash K, 1989. "Hysteresis, Import Penetration, and Exchange Rate Pass-Through," The Quarterly Journal of Economics, MIT Press, vol. 104(2), pages 205-28, May.
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Cited by:
  1. Roberto Meurer & Guilherme Moura & Sergio Da Silva, 2005. "Travel Hysteresis in the US Current Account After the Mid-1980s," Economic History 0511002, EconWPA.

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