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Hail to the Chief: Assessing the Economic Impact of Presidential Inaugurations on the Washington, D.C. Local Economy

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Author Info

  • 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)

Abstract

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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File URL: http://college.holycross.edu/RePEc/hcx/Matheson-Baumann-Engelhardt_Inauguration.pdf
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Bibliographic Info

Paper provided by College of the Holy Cross, Department of Economics in its series Working Papers with number 0901.

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Length: 12 pages
Date of creation: Jan 2009
Date of revision:
Handle: RePEc:hcx:wpaper:0901

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Related research

Keywords: Presidential Inauguration; impact analysis; mega-event; tourism;

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References

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  1. Robert Baade & Victor Matheson, 2004. "The Quest for the Cup: Assessing the Economic Impact of the World Cup," Regional Studies, Taylor & Francis Journals, vol. 38(4), pages 343-354.
  2. Robert Baade & Robert Baumann & Victor Matheson, 2008. "Slippery Slope? Assessing the Economic Impact of the 2002 Winter Olympic Games in Salt Lake City, Utah," Working Papers 0829, International Association of Sports Economists & North American Association of Sports Economists.
  3. Robert A. Baade & Robert Baumann & Victor A. Matheson, 2008. "Selling the Game: Estimating the Economic Impact of Professional Sports through Taxable Sales," Southern Economic Journal, Southern Economic Association, vol. 74(3), pages 794-810, January.
  4. Robert A Baade & Robert Baumann & Victor A Matheson, 2009. "Rejecting “Conventional” Wisdom: Estimating the Economic Impact of National Political Conventions," Eastern Economic Journal, Palgrave Macmillan, vol. 35(4), pages 520-530.
  5. Florian Hagn & Wolfgang Maennig, 2007. "Short-term to long-term employment effects of the Football World Cup 1974 in Germany," Working Papers 009, Chair for Economic Policy, University of Hamburg.
  6. Dennis Coates & Brad R. Humphreys, 2002. "The Economic Impact of Postseason Play in Professional Sports," Journal of Sports Economics, , vol. 3(3), pages 291-299, August.
  7. Victor Matheson, 2009. "Economic Multipliers and Mega-Event Analysis," International Journal of Sport Finance, Fitness Information Technology, vol. 4(1), pages 63-70, February.
  8. Stephanie Jasmand & Wolfgang Maennig, 2007. "Regional Income and Employment Effects of the 1972 Munich Olympic Summer Games," Working Papers 007, Chair for Economic Policy, University of Hamburg.
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Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. Vic Matheson on the Economic Impact of the Inauguration
    by Phil Miller in Market Power on 2009-01-21 17:17:00

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