News Shocks in the data : Olympic games and their macroeconomic effects

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dc.contributor.authorBRÜCKNER, Markus
dc.contributor.authorPAPPA, Evi
dc.date.accessioned2016-02-16T11:31:41Z
dc.date.available2016-02-16T11:31:41Z
dc.date.issued2015
dc.descriptionArticle first published online: 29 SEP 2015.en
dc.description.abstractWe examine the macroeconomic effects of bidding for the Olympic Games using panel data for 188 countries during the period 1950–2009. Our findings confirm that economies react to news shocks: investment, consumption, and output significantly increase 9 to 7 years before the actual event in bidding countries. Hosting countries also experience significant increases in investment, consumption, and output 5 to 2 years before the hosting of the Games. Mapping the Olympics into a macroeconomic model, we show that we can match our empirical findings if we assume that an Olympic bid represents news about increases in government investment.en
dc.identifier.citationJournal of money, credit and banking, 2015, Vol. 47, No. 7, pp. 1339-1367en
dc.identifier.doi10.1111/jmcb.12247
dc.identifier.endpage1367en
dc.identifier.issn1538-4616
dc.identifier.issn0022-2879
dc.identifier.issue7en
dc.identifier.startpage1339en
dc.identifier.urihttps://hdl.handle.net/1814/39021
dc.identifier.volume47en
dc.language.isoenen
dc.relation.ispartofJournal of money, credit and bankingen
dc.titleNews Shocks in the data : Olympic games and their macroeconomic effectsen
dc.typeArticleen
dspace.entity.typePublication
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