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.
© Copyright 2018 Journal of Sports Economics. SAGE Publications. All rights reserved.
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| Notations: | organisations and events management and organisation of sport |
| Published in: | Journal of Sports Economics |
| Language: | English |
| Published: |
2018
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| Online Access: | https://doi.org/10.1177/1527002517690788 |
| Volume: | 19 |
| Issue: | 6 |
| Pages: | 884-906 |
| Document types: | article |
| Level: | advanced |