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

Fecha:	2013
Resumen:	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.
Nota:	Número d'acord de subvenció MICINN/ECO2009-09847
Nota:	Número d'acord de subvenció MICINN/ECO2012-32392
Nota:	Número d'acord de subvenció AGAUR/SGR2009-00350
Derechos:	Tots els drets reservats
Lengua:	Anglès
Documento:	article ; recerca ; acceptedVersion
Materia:	News/Noise shocks ; Mega event ; Anticipation

DOI: 10.1111/jmcb.12247

Postprint 35 p, 544.9 KB

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