The Economics of Cross-Border Travel
研究了跨境旅行决策中价格差异与旅行成本的权衡，利用加美旅行微观数据发现本币升值10%使跨境倾向增加8%至26%，距离每英里成本87美分。
We model the decision to travel across an international border as a trade-off between benefits derived from buying a range of products at lower prices and the costs of travel. We estimate the model using microdata on Canada–United States travel. Price differences motivate cross-border travel; a 10% home appreciation raises the propensity to cross by 8% to 26%. The larger elasticity arises when the home currency is strong, a result predicted by the model. Distance to the border strongly inhibits crossings, with an implied cost of 87 cents per mile. Geographic differences can partially explain why American travel is less exchange rate responsive. © 2014 The President and Fellows of Harvard College and the Massachusetts Institute of Technology