Travel hysteresis in the US current account after the mid-1980s
AbstractFollowing the real appreciation of the US dollar in the first half of the 1980s, travel expenditures in the current account soared. Employing standard regression techniques as well as Markov-switching regime analysis we show that such expenditures did not return to their pre-appreciation levels thereafter. The permanent increase suggests the presence of travel hysteresis in the US current account after the mid-1980s.
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Bibliographic InfoArticle provided by AccessEcon in its journal Economics Bulletin.
Volume (Year): 14 (2005)
Issue (Month): 2 ()
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Other versions of this item:
- Roberto Meurer & Guilherme Moura & Sergio Da Silva, 2005. "Travel Hysteresis in the US Current Account After the Mid-1980s," Economic History, EconWPA 0511002, EconWPA.
- N1 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations
- F3 - International Economics - - International Finance
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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"Travel Hysteresis in the Brazilian Current Account,"
International Trade, EconWPA
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- repec:ebl:ecbull:v:6:y:2005:i:24:p:1-17 is not listed on IDEAS
- McCausland, W David, 2002. "Exchange Rate Hysteresis: The Effects of Overshooting and Short-Termism," The Economic Record, The Economic Society of Australia, The Economic Society of Australia, vol. 78(240), pages 60-67, March.
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