Recent analyses relate increases in the growth rate of countries to anticipation effects caused by bidding for the Olympic Games, so called news shocks. We argue that these findings should be interpreted cautiously. First, these analyses may suffer from an omitted variable bias because they...

Hosting a mega-event is a costly activity of short duration. Still, cities frequently compete to become host of all types of events. This paper examines the effect of staging the largest and most important sporting event in the world, the Summer Olympic Games, on the host city. Applying a...