News shocks in the data : Olympic Games and their macroeconomic effects
Brückner, Markus (National University of Singapore)
Pappa, Evi (Universitat Autònoma de Barcelona)

Date:	2013
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.
Grants:	Ministerio de Ciencia e Innovación ECO2009-09847 Ministerio de Ciencia e Innovación ECO2012-32392 Agència de Gestió d'Ajuts Universitaris i de Recerca 2009/SGR-00350
Rights:	Tots els drets reservats.
Language:	Anglès
Document:	Article ; recerca ; Versió acceptada per publicar
Subject:	News/Noise shocks ; Mega event ; Anticipation

DOI: 10.1111/jmcb.12247

Postprint 35 p, 544.9 KB

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