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Articles 1 - 12 of 12
Full-Text Articles in Social and Behavioral Sciences
Is There An Economic Case For The Olympic Games?, Chris Dempsey, Victor Matheson
Is There An Economic Case For The Olympic Games?, Chris Dempsey, Victor Matheson
Economics Department Working Papers
The Olympic Games are a major undertaking that promise both large costs and potentially large benefits to host cities. This paper lays out the potential economic benefits of hosting the Olympics and details how, in the vast majority of cases, these gains are unlikely to cover the costs of hosting the event. The ideas are then applied to the experience of Boston in its ultimately unsuccessful bid for the 2024 Summer Olympics.
Professional Sports, Hurricane Katrina, And The Economic Redevelopment Of New Orleans: Revisited, Victor Matheson, Robert Baade, Callan Henderschott
Professional Sports, Hurricane Katrina, And The Economic Redevelopment Of New Orleans: Revisited, Victor Matheson, Robert Baade, Callan Henderschott
Economics Department Working Papers
Hurricane Katrina devastated the city of New Orleans in late August 2005, resulting in damage to much of the city’s sports infrastructure and the temporary departure of both of New Orleans’ major league professional sports teams, the National Football League Saints and the National Basketball Association Hornets. The city spent over $500 million restoring the sports infrastructure in New Orleans, and both teams subsequently returned to the city. In addition, New Orleans has since hosted numerous mega-sporting events including the Super Bowl, NCAA Men’s Basketball Final Four, and several college football national championships. This paper examines the economic impact of …
The Rise And Fall (And Rise And Fall) Of The Olympic Games As An Economic Driver, Victor Matheson
The Rise And Fall (And Rise And Fall) Of The Olympic Games As An Economic Driver, Victor Matheson
Economics Department Working Papers
This paper traces the economic history of major sporting events focusing on the Olympics. Historically, the Olympic Games as well as other major sporting events have been considered costly events that place a burden on host cities. Only in relatively recent years, coinciding with the massive increases in the cost of hosting these events, have event organizers begun to claim that these events bring with them large economic benefits.
Point/Counterpoint: Is There A Case For Subsidizing Sports Stadiums?, Victor Matheson
Point/Counterpoint: Is There A Case For Subsidizing Sports Stadiums?, Victor Matheson
Economics Department Working Papers
In recent decades, governments have committed enormous public resources to subsidize construction of new stadiums, and the dollar value of taxpayer contributions for these subsidies continues to climb. Spending of taxpayer dollars includes both direct subsidies from state and local governments, as well as indirect subsidies from the use of tax-exempt bonds to finance construction. In granting stadium subsidies, governments claim that the stadiums are a public good that attracts tourists and businesses, thereby generating increased spending and job creation—benefits that flow to the community rather than to team owners. But do such benefits exist, and are they large enough …
Toxic Effects Of Lead Disposal In Water: An Analysis Of Tri Facility Releases, Patrick Koval
Toxic Effects Of Lead Disposal In Water: An Analysis Of Tri Facility Releases, Patrick Koval
Economics Department Working Papers
Using county-level TRI data from 2003 to 2016, I find evidence that lead emissions in water adversely affect birth weights within the emitting county, especially with respect to the percentage of births considered low birth weight within that county (less than 2,500 grams). I find that a one percent increase in lead emissions per square mile increases the proportion of low birth weights by 0.27 percentage points. For a county with an average number of births in a particular year, this one percent increase in lead per square mile translates to an additional $475,000 in hospitalization costs from complications with …
The Persistent Labor Market Effects Of A Criminal Conviction And “Ban The Box” Reforms, Joshua M. Congdon-Hohman
The Persistent Labor Market Effects Of A Criminal Conviction And “Ban The Box” Reforms, Joshua M. Congdon-Hohman
Economics Department Working Papers
Past literature has established that individuals who have been incarcerated face difficulties reentering the work force following their release, while finding and keeping a job can significantly reduce recidivism amongst individuals with prior criminal convictions. In attempt to improve employment outcomes, many local and state governments in the United States have initiated "Ban the Box" regulations. These initiatives delay inquiries regarding criminal history on job applications. Versions of ban the box regulations covering public sector employment have been enacted in 31 states and more than 150 local governments. Ban the box laws have included private employers in eleven states and …
The Economic Impact Of Olympic Games: Effects Of Host Country Announcements On Stock Market Returns, Bryan Engelhardt, Victor Matheson, Alex Yen, Max Chisholm
The Economic Impact Of Olympic Games: Effects Of Host Country Announcements On Stock Market Returns, Bryan Engelhardt, Victor Matheson, Alex Yen, Max Chisholm
Economics Department Working Papers
Roughly seven years before an Olympic Games, the International Olympic Committee (IOC) accepts bids from countries to host an Olympics. Subsequently, the IOC determines and announces to the world who has won (and lost) the right to host. Contrary to prior evidence, we find the announcements do not affect the bidding countries’ stock markets. We complement prior studies by including additional, more recent, years of announcements, by investigating whether there are effects prior to the announcement, and by testing for an effect both parametrically and non-parametrically.
The Economics Of The World Cup, Victor Matheson
The Economics Of The World Cup, Victor Matheson
Economics Department Working Papers
The quadrennial World Cup is perhaps the world’s most popular sporting event with millions of live fans and a worldwide television audience in the billions. It is also one of the most costly events to host with recent hosts countries such as Brazil and Russia spending around $12 billion putting on the tournament. This paper examines the costs and the benefits of hosting the World Cup with a focus on historical data and past economic impact studies.
Can Risk Models Extract Inflation Expectations From Financial Market Data? Evidence From The Inflation Protected Securities Of Six Countries, Arben Kita, Daniel L. Tortorice
Can Risk Models Extract Inflation Expectations From Financial Market Data? Evidence From The Inflation Protected Securities Of Six Countries, Arben Kita, Daniel L. Tortorice
Economics Department Working Papers
We consider an arbitrage strategy which exactly replicates the cash of a sovereign inflation-indexed bond using inflation swaps and nominal sovereign bonds. The strategy reveals a violation of the law of one price in the G7 countries which is largest for the eurozone. Testing the strategy's exposure to deflation, volatility, liquidity, economic and policy risks suggests that the observed pricing differential is an economic tail risk premium which is more pronounced in the eurozone. We conclude that inflation expectations implied by models that view this pricing differential as compensation for risk are likely to be accurate and useful for policy-making.
Hidden Subsidies And The Public Ownership Of Sports Facilities: The Case Of Levi’S Stadium In Santa Clara, Robert Baumann, Victor Matheson, Debra O'Connor
Hidden Subsidies And The Public Ownership Of Sports Facilities: The Case Of Levi’S Stadium In Santa Clara, Robert Baumann, Victor Matheson, Debra O'Connor
Economics Department Working Papers
Levi’s Stadium in Santa Clara, California is an example of a private financing / public ownership arrangement. While the stadium’s construction resulted in no direct tax increases, this ownership arrangement allows the San Francisco 49ers to avoid many types of taxes on the income generated from Levi’s Stadium. We estimate the total tax savings to the 49ers at between $106 and $213 million over the first 20 years of Levi’s Stadium compared with a privately financed and owned option. We argue that tax savings inherent in private financing / public ownership arrangements represent indirect and hidden subsidies.
Unconventional Wisdom: Estimating The Economic Impact Of The Democratic And Republican National Political Conventions, Victor Matheson, Lauren R. Heller, E. Frank Stephenson
Unconventional Wisdom: Estimating The Economic Impact Of The Democratic And Republican National Political Conventions, Victor Matheson, Lauren R. Heller, E. Frank Stephenson
Economics Department Working Papers
We use daily hotel occupancy, price, and revenue data to analyze the economic impact of the 2008 and 2012 Democratic and Republican National Conventions. We find that political conventions generate approximately 29,000 room nights of lodging, though this figure is offset by lower hotel occupancy during the week before and, to a lesser extent, after conventions. Conventions increase hotel revenue by approximately $20 million on average, a figure which suggests that host cities’ claims of economic impacts of $150 million or more may be implausible.
Economic Windfalls And The Affordable Care Act: A Policy Proposal, Joshua Congdon-Hohman, Victor Matheson
Economic Windfalls And The Affordable Care Act: A Policy Proposal, Joshua Congdon-Hohman, Victor Matheson
Economics Department Working Papers
This paper identifies a major issue with windfall payments under either possible interpretation of the ACA as it currently stands. Several alternatives are proposed that would eliminate the windfalls. We advocate the establishment of a tort award funded “Federal Stabilization Fund” to improve the economic efficiency of future health care awards in the age of the Affordable Care Act