Variability in overseas travel by Americans, 1820–2000
There were substantial fluctuations in the number of American overseas travelers, especially before World War Two. These fluctuations in travel around the long-term upward trend are the focus of this paper. We first identify those fluctuations in the data and then try to explain the patterns. We show that, despite the impact of a myriad of episodic events, fluctuations in travel can be explained to a large extent by changes in the direct price of travel, changes in per capita GDP and wealth in the United States, and by periods of armed conflict.
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Volume (Year): 7 (2013)
Issue (Month): 3 (September)
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