Travel hysteresis in the Brazilian current account
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.
Volume (Year): 6 (2005)
Issue (Month): 24 ()
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