Robert Baumann () (Department of Economics, College of the Holy Cross) Bryan Engelhardt () (Department of Economics, College of the Holy Cross) Victor Matheson () (Department of Economics, College of the Holy Cross)
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While presidential inaugurations routinely attract hundreds of thousands or more visitors to Washington, D.C. for the quadrennial celebration, our examination of employment from the Current Employment Statistics survey from 1939 to the present and both employment and unemployment from the Current Population Survey from 1977 to the present finds no noticeable effect on either variable from the event. The residents of D.C. should not expect the inauguration to make them any richer, and the city should not count on any economic benefits generated by the event to fully pay for the significant costs of hosting it.
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Paper provided by College of the Holy Cross, Department of Economics in its series Working Papers with number
0901.
Find related papers by JEL classification: O18 - Economic Development, Technological Change, and Growth - - Economic Development - - - Regional, Urban, and Rural Analyses R53 - Urban, Rural, and Regional Economics - - Regional Government Analysis - - - Public Facility Location Analysis; Public Investment and Capital Stock
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