scholarly journals An Ex-Post Analysis of the 2004 Olympic Effect

2022 ◽  
Vol 9 (1) ◽  
pp. 51-58
Author(s):  
Gregory T. Papanikos
Keyword(s):  
Great Recession ◽  
Olympic Games ◽  
Negative Impact ◽  
The Great Recession ◽  
Positive Effects ◽  
Exchange Value ◽  
Ex Post ◽  
Greek Economy ◽  
Made In ◽  
The Olympic Games

This paper evaluates the effects of the Olympic Games of 2004 hosted in Athens on Greece’s Gross Domestic Product (GDP), as estimated in Papanikos (1999). The estimates were made in 1997 for a period of fourteen years, 1998-2011, based on various scenarios. During this period two events have had a great impact on GDP that could have been predicted in 1997. Firstly, Greece adopted the euro in 2002, and even though this was pretty much a possibility in 1997, but not of course a certainty, the most important effect of the euro would have come from its exchange value vis-a-vis major currencies of countries with Greece was trading. This included tourism. Despite what many economists thought at the time, the introduction of the euro was not accompanied by a devaluation, but by unprecedented overvaluation. This had a negative impact on Greek GDP. Secondly, the Great Recession hit the Greek economy hard starting in 2008. These two effects had a negative impact on Greek GDP, wiping out the expected positive effects of the Olympic Games. Keywords: Olympic Games, GDP, Athens 2004, euro, great recession

scholarly journals Unemployment and spell duration during the Great Recession in the EU

2015 ◽  
Vol 36 (2) ◽  
pp. 216-235 ◽  
Author(s):  
Carlos Gradín ◽  
Olga Cantó ◽  
Coral del Río
Keyword(s):  
Great Recession ◽  
Negative Impact ◽  
Labour Force ◽  
Future Research ◽  
Cross Sectional ◽  
Content Type ◽  
The Great Recession ◽  
Unemployment Spells ◽  
Practical Implications ◽  
The Eu

Purpose – The purpose of this paper is to analyze the different dynamic characteristics of unemployment in a selected group of European Union countries during the current Great Recession, which had unequal consequences on employment depending on the country considered. Design/methodology/approach – The paper follows Shorrocks’s proposal of a duration-sensitive measure of unemployment, and uses cross-sectional data reported by Eurostat coming from European Labour Force Surveys. Findings – The results add some evidence on the relevance of incorporating spells’ duration in measuring unemployment, finding remarkable differences in unemployment patterns in time among European countries. Research limitations/implications – In this paper unemployment is analyzed for all the labor force. Future research should investigate patterns across specific groups such as young people, women, immigrants or the low skilled. Practical implications – It is generally accepted that the negative impact of unemployment on individual welfare can be very different depending on its duration. However, conventional statistics on unemployment do not adequately capture to what extent the recession is not only increasing the incidence of unemployment but also its severity in terms of duration in time of ongoing unemployment spells. The paper shows an easy and practical way to do it in order to improve the understanding of the unemployment phenomenon, using information usually reported by statistical offices. Originality/value – First, the paper provides a tool for dynamic analysis of unemployment based on reported cross-sectional data. Second, the paper demonstrates the empirical relevance of considering spells’ duration when assessing differences in unemployment across countries or in unemployment trends. This is usually neglected or only partially addressed by most conventional measures of unemployment.

scholarly journals Investment Hangover and the Great Recession

2018 ◽  
Vol 10 (2) ◽  
pp. 113-153 ◽  
Author(s):  
Matthew Rognlie ◽  
Andrei Shleifer ◽  
Alp Simsek
Keyword(s):  
Monetary Policy ◽  
Interest Rate ◽  
Great Recession ◽  
The Great Recession ◽  
Left Behind ◽  
Ex Post ◽  
Ex Ante ◽  
The Interest Rate

We present a model of investment hangover motivated by the Great Recession. Overbuilding of durable capital such as housing requires a reallocation of productive resources to other sectors, which is facilitated by a reduction in the interest rate. When monetary policy is constrained, overbuilding induces a demand-driven recession with limited reallocation and low output. Investment in other capital initially declines due to low demand, but it later booms and induces an asymmetric recovery in which the overbuilt sector is left behind. Welfare can be improved by ex post policies that stimulate investment (including in overbuilt capital) and ex ante policies that restrict investment. (JEL E22, E23, E32, E43, E52, R21, R31)

scholarly journals Workfare redux? Pandemic unemployment, labour activation and the lessons of post-crisis welfare reform in Ireland

2020 ◽  
Vol 40 (9/10) ◽  
pp. 963-978
Author(s):  
Michael McGann ◽  
Mary P. Murphy ◽  
Nuala Whelan
Keyword(s):  
Great Recession ◽  
Illustrative Case ◽  
Content Type ◽  
The Great Recession ◽  
Left Behind ◽  
Labour Policy ◽  
Active Labour ◽  
Market Impacts ◽  
Welfare Systems ◽  
Made In

PurposeThis paper addresses the labour market impacts of Covid-19, the necessity of active labour policy reform in response to this pandemic unemployment crisis and what trajectory this reform is likely to take as countries shift attention from emergency income supports to stimulating employment recovery.Design/methodology/approachThe study draws on Ireland’s experience, as an illustrative case. This is motivated by the scale of Covid-related unemployment in Ireland, which is partly a function of strict lockdown measures but also the policy choices made in relation to the architecture of income supports. Also, Ireland was one of the countries most impacted by the Great Recession leading it to introduce sweeping reforms of its active labour policy architecture.FindingsThe analysis shows that the Covid unemployment crisis has far exceeded that of the last financial and banking crisis in Ireland. Moreover, Covid has also exposed the fragility of Ireland's recovery from the Great Recession and the fault-lines of poor public services, which intensify precarity in the context of low-paid employment growth precipitated by workfare policies implemented since 2010. While these policies had some short-term success in reducing the numbers on the Live Register, many cohorts were left behind by the reforms and these employment gains have now been almost entirely eroded.Originality/valueThe lessons from Ireland's experience of post-crisis activation reform speak to the challenges countries now face in adapting their welfare systems to facilitate a post-Covid recovery, and the risks of returning to “workfare” as usual.

The Great Recession and Physical Activity of Young Adults

2021 ◽  
pp. 155982762110084
Author(s):  
Shamma Adeeb Alam ◽  
Bijetri Bose
Keyword(s):  
Physical Activity ◽  
Young Adults ◽  
Physical Exercise ◽  
Great Recession ◽  
Fixed Effects ◽  
Negative Impact ◽  
Panel Study ◽  
The Great Recession ◽  
Nationally Representative ◽  
The Impact

Objective. Since physical inactivity has been identified as a pandemic and a public health priority, it is crucial to understand the role of adverse economic shocks on physical activity. In this study, we examine the impact of job losses during the U.S. Great Recession from January 2008 to June 2009 on the likelihood of physical activities of young adults. Methods. We use individual fixed effects estimation on a nationally representative longitudinal data from 2005 to 2015, the Panel Study of Income Dynamics (PSID), to examine the impact of job losses of young adults, their spouses, and their parents on physical exercise of young adults aged 18 to 27 years. Results. Own job losses during the Great Recession led to a decrease in the likelihood of physical exercise among young adults. However, job losses of parents and partners had no effect on the likelihood of young adults’ physical exercise. Conclusion. Our findings indicate a negative impact of the recession on physical activity of young adults and highlights the need for policymakers to consider the impact of major economic downturns on the physical activity of young adults.

Unemployment, social protection spending and child poverty in the European Union during the Great Recession

2016 ◽  
Vol 27 (2) ◽  
pp. 123-137 ◽  
Author(s):  
Yekaterina Chzhen
Keyword(s):  
Great Recession ◽  
Social Protection ◽  
Negative Impact ◽  
Child Poverty ◽  
Poverty Line ◽  
Contextual Effect ◽  
Income Poverty ◽  
Work Intensity ◽  
The Great Recession ◽  
Working Age

The 2008 financial crisis triggered the first contraction of the world economy in the post-war era. This article investigates the effect of the Great Recession on child poverty across the EU-27 plus Iceland, Norway and Switzerland and studies the extent to which social protection spending may have softened the negative impact of the economic crisis on children. While the risks of child poverty are substantially higher in countries with higher rates of working-age unemployment, suggesting a significant impact of the Great Recession on household incomes via the labour market, the study finds evidence for social protection spending cushioning the blow of the crisis at least to some extent. Children were significantly less likely to be poor in countries with higher levels of social protection spending in 2008–2013, even after controlling for the socio-demographic structure of the population, per capita gross domestic product (GDP) and the working-age unemployment rate. The poverty-dampening contextual effect of social spending was greater for the poverty risks of children in very low work intensity families and large families. The study uses two complementary thresholds of income poverty, both based on 60 percent of the national median: a relative poverty line and a threshold anchored in 2008. Although the choice of a poverty line makes a difference to aggregate child poverty rates, individual-level risks of a child being poor associated with a range of household-level characteristics are similar for the two poverty lines.

scholarly journals A systematic review of the impact of the Great Recession on food intake

2020 ◽  
Vol 30 (Supplement_5) ◽  
Author(s):  
R H Jenkins ◽  
E P Vamos ◽  
D Taylor-Robinson ◽  
C Millett ◽  
A Laverty
Keyword(s):  
Systematic Review ◽  
Food Intake ◽  
Energy Intake ◽  
Great Recession ◽  
Negative Impact ◽  
Grey Literature ◽  
Dietary Quality ◽  
The Great Recession ◽  
Economic Downturns ◽  
The Impact

Abstract Background The 2007-2009 Great Recession significantly impacted global economies, industries, and individuals around the world, with a potential impact on health behaviours including dietary intake. Given the global reach and severity of the Great Recession, changes in food intakes may impacted health and health inequalities internationally. We conducted a systematic review examining whether the Great Recession had an impact on food intakes. Methods We searched MEDLINE, Embase, PsycINFO, Health Management Information Consortium (HMIC), CINAHL and Web of Science databases, along with relevant grey literature, in June 2020. Primary quantitative studies with the Great Recession as the exposure and food intake as the outcome and with two time points were eligible for inclusion in this review, assessed independently by two reviewers. The Newcastle Ottawa scale was used for quality assessment. The study was registered with PROSPERO (CRD42019135864). Results Forty-one studies from twenty-five countries were included in this review. Studies were heterogeneous in methods and results. Nine of ten studies on energy intake found that total energy intake decreased over the recession. Eight of eleven studies on dietary quality found that the recession was associated with poorer diet. Thirty-four studies assessed impact on individual food groups. They found that consumption of fruits and vegetables, meat and fish, and fast food, confectionery and soft drinks generally decreased while egg and legume consumption increased and carbohydrate consumption exhibited little change. The impact was generally greater on those of lower socio-economic position. Conclusions While our review presents mixed findings about the impact of the Great Recession on food intake, there is consistent evidence of a negative impact on diets. Identifying effective policies which mitigate adverse changes in nutrition during economic downturns should be prioritised at the national and international level. Key messages Our systematic review of the Great Recession and food intakes demonstrates potential relationships between economic downturns and nutrition – these relationships may be important for health globally. Our systematic review demonstrates that it is important for policy-makers and public health professionals to consider mitigating potential nutritional impacts during economic recessions.

Does confirmation bias exist in judged events at the Olympic Games?

2020 ◽  
Vol 0 (0) ◽  
Author(s):  
Christiana Hilmer ◽  
Michael John Hilmer
Keyword(s):  
Olympic Games ◽  
Confirmation Bias ◽  
Conventional Wisdom ◽  
Ex Post ◽  
Ex Ante ◽  
The Olympic Games

AbstractExamining data for the 10 Olympic Games contested this century, we ask whether confirmation bias exists in judged events. We theorize that if such bias is present, then competitors in judged events should perform closer to predicted than competitors in non-judged events. Among a sample of over 5100 predicted medalists from the 10 Games, we find that, all else equal, the differences between ex-ante conventional wisdom and ex-post observed outcome are larger for competitors in timed events than for competitors in judged events. These results suggest that confirmation bias does potentially exist for judged events at the Olympic Games.

scholarly journals INFLUENCE OF THE ORGANIZATION OF THE OLYMPIC GAMES AS MEGA-EVENT ON URBANIZATION PROCESSES IN THE CITY AND THE REGION

2021 ◽  
pp. 241-252
Author(s):  
Volodymyr Kovpak
Keyword(s):  
Urban Environment ◽  
Regional Planning ◽  
Olympic Games ◽  
Negative Impact ◽  
Transport Infrastructure ◽  
Urban And Regional Planning ◽  
Mega Events ◽  
Mega Event ◽  
The City ◽  
The Olympic Games

In recent decades, the Olympic Games have become one of the most important mega-events in the world. The large number of cities applying for the Olympics and the increase in mega-event budgets indicate that the leadership of cities and regions perceive the possibility of holding the Olympics as a tool to improve economic and social aspects in cities by accumulating investment. Since its inception, the Olympic Games have closely influenced urbanization processes in host societies. From the second half of the 20th century, a significant evolution can be observed via increasing the scale of the mega-event: from the Olympic mono-stadium to the Olympic quarter, urban and regional planning. Thus, the Olympics began to provide investment not only in sports infrastructure but also in becoming an element of urban and regional renewal and development, introducing changes in transport infrastructure, housing, parks, streets, public space. From the point of view of urban and regional planning, the holding of such a mega-event as the Olympics is considered within the concept of the Olympic heritage; namely, researchers study the material impact of mega-events. The tangible Olympic legacy is divided into sports and non-sports. The sports heritage of mega-events includes sports facilities, as well as training facilities. The non-sporting heritage of the mega-event includes the Olympic Villages (after the mega-event, the Olympic Village usually becomes the city's housing stock), the media center (which has the potential to become a shopping, entertainment, exhibition, or multicenter), renewed transport infrastructure and public and park spaces, urban environment. Especially for cities hosting a mega-event, the benefits of hosting the Olympics can be vast and varied. In the post-Fordism world, cities began to consider the possibility of holding the Olympics as a tool for the revival of the city. Such applications can be called "regeneration games". The Olympic Games can be part of a strategic plan to renovate the city, significantly change the urban environment, improve transport infrastructure, and affect the quality of life in the city. However, the mega-event can have a negative impact on the city, forming an overuse of funds or the implementation of unnecessary infrastructure of the city, which declines after the Olympics. 

scholarly journals Underemployment and well-being in the UK before and after the Great Recession

2016 ◽  
Vol 31 (1) ◽  
pp. 71-89 ◽  
Author(s):  
Jason Heyes ◽  
Mark Tomlinson ◽  
Adam Whitworth
Keyword(s):  
Economic Crisis ◽  
Great Recession ◽  
Negative Impact ◽  
Well Being ◽  
Subjective Well Being ◽  
The Great Recession ◽  
Before And After ◽  
Different Dimensions ◽  
The Uk

Since the start of the economic crisis in 2008 there has been widespread concern with changes in the level and composition of unemployment. The phenomenon of underemployment has, however, received markedly less attention, although it too increased in extent following the start of the crisis. This article considers the consequences of underemployment for the subjective well-being of UK employees. Drawing on data from the 2006 and 2012 Employment and Skills Surveys, the article assesses how the Great Recession affected relationships between different dimensions of underemployment and well-being. The findings demonstrate that the negative well-being consequences of workers’ dissatisfaction with opportunities to make use of their abilities became more substantial, as did the consequences of being ‘hours constrained’ and having an unsatisfactory workload. The article also shows that the economic crisis had a negative impact on the well-being of employees who work very long hours.

scholarly journals Russia and Its International Image: From Sochi Olympic Games to Annexing Crimea

2016 ◽  
Vol 18 (2) ◽  
pp. 165-186 ◽  
Author(s):  
Michał Marcin Kobierecki
Keyword(s):  
Olympic Games ◽  
Crimean Peninsula ◽  
Positive Effects ◽  
Significant Events ◽  
International Image ◽  
The Crimean Peninsula ◽  
The Olympic Games

The aim of the article is to analyze the change of the Russian Federation’s international image in the light of two significant events: the Olympic Winter Games in 2014 in Sochi and the annexation of Crimea. According to the first hypothesis, one of the main aims for hosting the Olympic Games was to improve the international prestige of Russia. Shortly after the Olympics Russia increased its activity in Eastern Ukraine, which resulted in the annexation of the Crimean Peninsula. Therefore the article is also aimed to investigate whether by annexing Crimea Russia squandered the possible positive effects of hosting the Olympics in terms of its international image.

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