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The Olympic Games as a News Shock

Author

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  • Viktoria C. E. Langer
  • Wolfgang Maennig
  • Felix Richter

Abstract

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.

Suggested Citation

  • Viktoria C. E. Langer & Wolfgang Maennig & Felix Richter, 2018. "The Olympic Games as a News Shock," Journal of Sports Economics, , vol. 19(6), pages 884-906, August.
    • Handle: RePEc:sae:jospec:v:19:y:2018:i:6:p:884-906
    DOI: 10.1177/1527002517690788
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    References listed on IDEAS

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    Cited by:

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    3. Krystian M. Zawadzki & Marcin Potrykus, 2023. "Stock Markets’ Reactions to the Announcement of the Hosts. An Event Study in the Analysis of Large Sporting Events in the Years 1976–2032," Journal of Sports Economics, , vol. 24(6), pages 759-800, August.
    4. Stefan Szymanski & Bastien Drut, 2020. "The Private Benefit of Public Funding: The FIFA World Cup, UEFA European Championship, and Attendance at Host Country League Soccer," Journal of Sports Economics, , vol. 21(7), pages 723-745, October.
    5. Beckmann, Joscha & Boysen-Hogrefe, Jens & Groll, Dominik & Hoffmann, Timo & Jannsen, Nils & Kooths, Stefan & Schröder, Christian & Sonnenberg, Nils, 2024. "Deutsche Wirtschaft in Sommer 2024: Erholung kommt mühsam in Gang [German Economy Summer 2024: Recovery gets off to a slow start]," Kieler Konjunkturberichte 115, Kiel Institute for the World Economy (IfW Kiel).
    6. Wolfgang Maennig & Viktoria C. E. Schumann, 2022. "Prevention Effect of News Shocks in Anti-Doping Policies," Journal of Sports Economics, , vol. 23(4), pages 431-459, May.
    7. Firgo, Matthias, 2021. "The causal economic effects of Olympic Games on host regions," Regional Science and Urban Economics, Elsevier, vol. 88(C).
    8. Beckmann, Joscha & Jannsen, Nils, 2024. "Gesamtwirtschaftliche Auswirkungen von Fußball-Großveranstaltungen," Kiel Insight 2024.05, Kiel Institute for the World Economy (IfW Kiel).
    9. Michał Marcin Kobierecki & Michał Pierzgalski, 2022. "Sports Mega-Events and Economic Growth: A Synthetic Control Approach," Journal of Sports Economics, , vol. 23(5), pages 567-597, June.
    10. Olmos, Lorena & Bellido, Héctor & Román-Aso, Juan A., 2020. "The effects of mega-events on perceived corruption," European Journal of Political Economy, Elsevier, vol. 61(C).
    11. Wifo, 2023. "WIFO-Monatsberichte, Heft 7/2023," WIFO Monatsberichte (monthly reports), WIFO, vol. 96(7), July.
    12. Jean-Jacques Gouguet & Christophe Lepetit, 2017. "The Economic Impact Of Euro 2016. Methodological Aspects," Rivista di Diritto ed Economia dello Sport, Centro di diritto e business dello Sport, vol. 13(2), pages 153-171, settembre.
    13. Matthias Firgo & Oliver Fritz, 2023. "Regionalwirtschaftliche und touristische Effekte von Sportgroßveranstaltungen," WIFO Monatsberichte (monthly reports), WIFO, vol. 96(7), pages 481-490, July.

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