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

Robert Baumann (), Bryan Engelhardt and Victor Matheson

No 901, Working Papers from College of the Holy Cross, Department of Economics

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.

Keywords: Presidential Inauguration; impact analysis; mega-event; tourism (search for similar items in EconPapers)
JEL-codes: O18 R53 (search for similar items in EconPapers)
Pages: 12 pages
Date: 2009-01
New Economics Papers: this item is included in nep-geo and nep-tur
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Published in Tourism Economics, Vol. 16:4, December 2010, pp. 1081-1087.

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