IDEAS home Printed from https://ideas.repec.org/p/hcx/wpaper/1103.html
   My bibliography  Save this paper

Estimating economic impact using ex post econometric analysis: Cautionary tales

Author

Listed:
  • Robert Baumann

    () (Department of Economics, College of the Holy Cross)

  • Victor Matheson

    () (Department of Economics, College of the Holy Cross)

Abstract

This paper provides an overview of techniques that can be used to estimate the economic impact of stadiums, events, championships, and franchises on local economies. Utilizing data from National Collegiate Athletic Association championships, this paper highlights the potential problems that can be made if city and time effects are not handled and unit-roots are not accounted for. In addition, the paper describes the technique for estimating dynamic panel data and the advantages that come with these modeling techniques.

Suggested Citation

  • Robert Baumann & Victor Matheson, 2011. "Estimating economic impact using ex post econometric analysis: Cautionary tales," Working Papers 1103, College of the Holy Cross, Department of Economics.
  • Handle: RePEc:hcx:wpaper:1103
    as

    Download full text from publisher

    File URL: http://web.holycross.edu/RePEc/hcx/HC1103-Matheson-Baumann_Econometrics.pdf
    Download Restriction: no

    Other versions of this item:

    References listed on IDEAS

    as
    1. Hansen, Lars Peter, 1982. "Large Sample Properties of Generalized Method of Moments Estimators," Econometrica, Econometric Society, vol. 50(4), pages 1029-1054, July.
    2. Kaddour Hadri, 2000. "Testing for stationarity in heterogeneous panel data," Econometrics Journal, Royal Economic Society, vol. 3(2), pages 148-161.
    3. Victor Matheson, 2009. "Economic Multipliers and Mega-Event Analysis," International Journal of Sport Finance, Fitness Information Technology, vol. 4(1), pages 63-70, February.
    4. Stephanie Jasmand & Wolfgang Maennig, 2008. "Regional Income and Employment Effects of the 1972 Munich Summer Olympic Games," Regional Studies, Taylor & Francis Journals, vol. 42(7), pages 991-1002.
    5. John Siegfried & Andrew Zimbalist, 2002. "A Note on the Local Economic Impact of Sports Expenditures," Journal of Sports Economics, , vol. 3(4), pages 361-366, November.
    6. Bun, Maurice J. G. & Kiviet, Jan F., 2003. "On the diminishing returns of higher-order terms in asymptotic expansions of bias," Economics Letters, Elsevier, vol. 79(2), pages 145-152, May.
    7. Blundell, Richard & Bond, Stephen, 1998. "Initial conditions and moment restrictions in dynamic panel data models," Journal of Econometrics, Elsevier, vol. 87(1), pages 115-143, August.
    8. 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.
    9. Feddersen, Arne & Maennig, Wolfgang, 2012. "Sectoral labour market effects of the 2006 FIFA World Cup," Labour Economics, Elsevier, vol. 19(6), pages 860-869.
    10. Im, Kyung So & Pesaran, M. Hashem & Shin, Yongcheol, 2003. "Testing for unit roots in heterogeneous panels," Journal of Econometrics, Elsevier, vol. 115(1), pages 53-74, July.
    11. Kiviet, Jan F., 1995. "On bias, inconsistency, and efficiency of various estimators in dynamic panel data models," Journal of Econometrics, Elsevier, vol. 68(1), pages 53-78, July.
    12. Hagn, Florian & Maennig, Wolfgang, 2008. "Employment effects of the Football World Cup 1974 in Germany," Labour Economics, Elsevier, vol. 15(5), pages 1062-1075, October.
    13. Michael C. Davis & Christian M. End, 2010. "A Winning Proposition: The Economic Impact Of Successful National Football League Franchises," Economic Inquiry, Western Economic Association International, vol. 48(1), pages 39-50, January.
    14. Nickell, Stephen J, 1981. "Biases in Dynamic Models with Fixed Effects," Econometrica, Econometric Society, vol. 49(6), pages 1417-1426, November.
    15. 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.
    16. Manuel Arellano & Stephen Bond, 1991. "Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations," Review of Economic Studies, Oxford University Press, vol. 58(2), pages 277-297.
    17. Judson, Ruth A. & Owen, Ann L., 1999. "Estimating dynamic panel data models: a guide for macroeconomists," Economics Letters, Elsevier, vol. 65(1), pages 9-15, October.
    18. Levin, Andrew & Lin, Chien-Fu & James Chu, Chia-Shang, 2002. "Unit root tests in panel data: asymptotic and finite-sample properties," Journal of Econometrics, Elsevier, vol. 108(1), pages 1-24, May.
    19. Anderson, T. W. & Hsiao, Cheng, 1982. "Formulation and estimation of dynamic models using panel data," Journal of Econometrics, Elsevier, vol. 18(1), pages 47-82, January.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Kent Grote & Victor Matheson, 2013. "Should Gambling Markets be Privatized? An Examination of State Lotteries in the United States," Working Papers 1303, College of the Holy Cross, Department of Economics.
    2. Kent R. Grote & Victor A. Matheson, 2014. "The Impact of State Lotteries and Casinos on State Bankruptcy Filings," Growth and Change, Wiley Blackwell, vol. 45(1), pages 121-135, March.
    3. repec:kap:jculte:v:41:y:2017:i:2:d:10.1007_s10824-017-9294-0 is not listed on IDEAS

    More about this item

    Keywords

    College sports; impact analysis; econometrics;

    JEL classification:

    • L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism
    • R53 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Public Facility Location Analysis; Public Investment and Capital Stock
    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:hcx:wpaper:1103. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Victor Matheson). General contact details of provider: http://edirc.repec.org/data/deholus.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.