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Travel Hysteresis in the US Current Account After the Mid-1980s

Roberto Meurer, Guilherme Moura () and Sergio Da Silva ()
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Roberto Meurer: Federal University of Santa Catarina

Economic History from EconWPA

Abstract: 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.

JEL-codes: F31 F32 (search for similar items in EconPapers)
Date: 2005-11-20
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