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Travel hysteresis in the Brazilian current account

  • Sergio Da Silva

    ()

    (Department of Economics, Federal University of Santa Catarina)

  • Guilherme Moura

    ()

    (Department of Economics, Pontifical Catholic University of Minas Gerais)

  • Roberto Meurer

    ()

    (Department of Economics, Federal University of Santa Catarina)

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.

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Article provided by AccessEcon in its journal Economics Bulletin.

Volume (Year): 6 (2005)
Issue (Month): 24 ()
Pages: 1-17

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Handle: RePEc:ebl:ecbull:eb-05f40003
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  1. Dixit, Avinash K, 1989. "Hysteresis, Import Penetration, and Exchange Rate Pass-Through," The Quarterly Journal of Economics, MIT Press, vol. 104(2), pages 205-28, May.
  2. McCausland, W David, 2002. "Exchange Rate Hysteresis: The Effects of Overshooting and Short-Termism," The Economic Record, The Economic Society of Australia, vol. 78(240), pages 60-67, March.
  3. Baldwin, Richard, 1988. "Hyteresis in Import Prices: The Beachhead Effect," American Economic Review, American Economic Association, vol. 78(4), pages 773-85, September.
  4. Richard Baldwin & Paul R. Krugman, 1986. "Persistent Trade Effects of Large Exchage Rate Shocks," NBER Working Papers 2017, National Bureau of Economic Research, Inc.
  5. Roberts, Mark A. & McCausland, W. David, 1999. "Multiple international debt equilibria and irreversibility," Economic Modelling, Elsevier, vol. 16(2), pages 179-188, April.
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