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The US Tourism Trade Balance and Exchange Rate Shock

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  • Ka Ming Cheng
  • Hyeongwoo Kim
  • Henry Thompson

Abstract

This paper investigates the effect of dollar depreciation on the US tourism trade balance. Export revenue and import spending functions are estimated separately with structural vector autoregressive methods to better capture dynamic adjustments to exchange rate shocks. Quarterly data cover the period of floating exchange rates from 1973 through 2007. Depreciation has no significant effect on tourism export revenue or import spending. US tourists are more sensitive to income than are tourists coming to the US.

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File URL: http://cla.auburn.edu/econwp/Archives/2011/2011-12.pdf
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Bibliographic Info

Paper provided by Department of Economics, Auburn University in its series Auburn Economics Working Paper Series with number auwp2011-12.

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Date of creation: Sep 2011
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Handle: RePEc:abn:wpaper:auwp2011-12

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Web page: http://cla.auburn.edu/economics/
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Keywords: Balance of Trade; Exchange Rate; Tourism; Structural Vector Autoregressive Model; J-Curve;

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  1. repec:ebl:ecbull:v:6:y:2007:i:26:p:1-12 is not listed on IDEAS
  2. Demirden, Tuvana & Pastine, Ivan, 1995. "Flexible exchange rates and the J-curve: An alternative approach," Economics Letters, Elsevier, vol. 48(3-4), pages 373-377, June.
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