| Author : | Cheng, K. M.; Kim, H.; & Thompson, H. |
|---|---|
| Category : | Journal Article |
| Department : | |
| Year / Month : | 2013 |
| Source : | Tourism Economics, 19(4), 883-896. |
Abstract
- This paper investigates exchange rate effects on US tourism trade in
structural vector autoregressive models with quarterly data for the
floating exchange rate from 1973 to 2007. Tourism export revenue
and import spending are examined along with the tourism trade
balance. Depreciation raises the US tourism trade balance with a unit
elastic effect after six quarters with no evidence of J-curve behaviour.
Only export revenue is marginally sensitive to the exchange rate.
Foreign travel is a luxury good for US tourists, while travel to the
USA is a normal good for foreign tourists.
Keywords
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