Publication:
News shocks in the data: Olympic Games and their macroeconomic effects

Thumbnail Image
Identifiers
URI: https://hdl.handle.net/10016/34781
ISSN: 0022-2879
DOI: https://doi.org/10.1111/jmcb.12247
UXXI: AR/0000029314
Files
news_JMCB_2015_ps.pdf (840.55 KB)
Publication date
2015-09-29
Defense date
Authors
Advisors
Tutors
Journal Title
Journal ISSN
Volume Title
Publisher
Wiley
Impact
Google Scholar
Export
Research Projects
Organizational Units
Journal Issue
Abstract
We 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 nine to seven years before the actual event in bidding countries. Hosting countries also experience significant increases in investment, consumption and output five to two years before the hosting of the Games. The macroeconomic effects associated with hosting the Olympic Games occur well in advance before the actual event.
Description
Keywords
News shocks, Mega event, Anticipation
Bibliographic citation
Brückner, M., & Pappa, E. (2015). News shocks in the data: Olympic Games and their macroeconomic effects. Journal of Money, Credit and Banking, 47 (7), pp. 1339-1367.
Collections
DE - Artículos de Revistas