The Olympic Games as a news shock -Macroeconomic implications

The awarding of the Olympic Games to a certain city or the announcement of a city`s Olympic bid may be considered as a news shock that affects agents` market expectations. A news shock implies potential impacts on the dynamic adjustment process that change not only the volatility but also the long-run steady-state levels of endogenous economic variables. In this study, we contribute to and extend previous researchers` attempts to empirically test for the Olympic Games as a news shock by implementing full structural models and by matching Olympic hosts and bidders to structurally similar countries.
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Aiheet: olympialaiset taloudellisuus urheilupolitiikka
Aihealueet: järjestöt ja tapahtumat urheilun johto ja organisaatio
DOI: 10.1177/1527002517690788
Julkaisussa: Journal of Sports Economics
Julkaistu: 2018
Vuosikerta: 19
Numero: 6
Sivuja: 884-906
Julkaisutyypit: artikkeli
Kieli: englanti (kieli)
Taso: kehittynyt