Travel hysteresis in the US current account after the mid-1980s

Following the real appreciation of the US dollar in the first half of the 1980s, travel expenditures in the current account soared. Employing standard regression techniques as well as Markov-switching regime analysis we show that such expenditures did not return to their pre-appreciation levels thereafter. The permanent increase suggests the presence of travel hysteresis in the US current account after the mid-1980s.

MoreLess

Year of publication:	2005-12-06
Authors:	Silva, Sergio Da ; Moura, Guilherme ; Meurer, Roberto
Published in:	Economics Bulletin. - AccessEcon, ISSN 1545-2921. - Vol. 14.2005, 2, p. 1-10
Publisher:	AccessEcon

freely available

Full text |

More access options

Check Google Scholar

In libraries world-wide (WorldCat)

In German libraries (KVK)

subito order

I need help

More details

Extent:	application/pdf
Type of publication:	Article
Classification:	N1 - Macroeconomics and Monetary Economics; Growth and Fluctuations ; F3 - International Finance
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010629647