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Full-Text Articles in Regional Economics
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.
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.