Fluctuations in Overseas Travel by Americans, 1820 to 2000
AbstractThere were substantial fluctuations in the numbers of American overseas travelers, especially before World War II. These fluctuations in travel around the robust, long term upward trend are the focus of this paper. We first identify those fluctuations in the raw data and then try to explain the pattern of overseas travel in a quantitative way. As we show, despite the impact of a myriad of episodic events, the fluctuations in travel can be explained to a large extent by changes in the direct price of travel, changes in per capita GDP in the U.S., the extent of travel in the preceding year, and by periods of armed conflict in Europe. We attempt to explain some of the remaining variation for specific episodes in which the actual level of travel differed substantially from the predicted.
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Bibliographic InfoPaper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 14847.
Date of creation: Apr 2009
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Find related papers by JEL classification:
- L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism
- N11 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - U.S.; Canada: Pre-1913
- N12 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - U.S.; Canada: 1913-
This paper has been announced in the following NEP Reports:
- NEP-ALL-2009-04-05 (All new papers)
- NEP-HIS-2009-04-05 (Business, Economic & Financial History)
- NEP-TUR-2009-04-05 (Tourism Economics)
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.:
- Brandon Dupont & Alka Gandhi & Thomas J. Weiss, 2008. "The American Invasion of Europe: The Long Term Rise in Overseas Travel, 1820-2000," NBER Working Papers 13977, National Bureau of Economic Research, Inc.
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