  We analyze the dynamics of random walks with long-term memory (binary chains
with long-range correlations) in the presence of an absorbing boundary. An
analytically solvable model is presented, in which a dynamical phase-transition
occurs when the correlation strength parameter \mu reaches a critical value
\mu_c. For strong positive correlations, \mu > \mu_c, the survival probability
is asymptotically finite, whereas for \mu < \mu_c it decays as a power-law in
time (chain length).
