Wal-Mart and the US Economy

Robert Jantzen, Donn Pescatrice and Andrew Braunstein
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Robert Jantzen: Iona College, 715 North Avenue, New Rochelle, NY 10801, USA
Donn Pescatrice: Iona College, 715 North Avenue, New Rochelle, NY 10801, USA
Andrew Braunstein: Iona College, 715 North Avenue, New Rochelle, NY 10801, USA

Eastern Economic Journal, 2009, vol. 35, issue 3, 297-308

Abstract: The Wal-Mart company, the world's largest retailer and second-largest corporation, is a dominant US business. This study investigates whether there are significant long-run relationships between the business of Wal-Mart and the overall US economy as measured by an array of traditional macro-level variables. Cointegration analysis reveals that Wal-Mart sales generally move counter to overall economic conditions, dampened in more prosperous economic periods and buoyed in more sluggish economic environments. Consequently, trends in Wal-Mart sales may serve as a rather non-traditional contrarian economic bellwether. Eastern Economic Journal (2009) 35, 297–308. doi:10.1057/eej.2008.19

Date: 2009
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