Olympic Games may have impacts on income and employment in the host city, but no ex post study has been carried out for European Olympic host cities to date. The present study closes this gap using the 1972 Munich Olympic Games. The data period examined in this study allows for analysis of...

Becoming unemployed has negative effects on life satisfaction; a transition from unemployment to employment, however, has only small positive effects. This asymmetry indicates a potential omitted variable bias in previous empirical happiness studies, with the consequence of underesti-mated...

Olympic Games may have impacts on income and employment in the host city, but no ex post study has been carried out for European Olympic host cities to date. The present study closes this gap using the 1972 Munich Olympic Games. The data period examined in this study allows for analysis of...

Olympic Games may have impacts on income and employment in the host city, but no ex post study has been carried out for European Olympic host cities to date. The present study closes this gap using the 1972 Munich Olympic Games. The data period examined in this study allows for analysis of...

Becoming unemployed has negative effects on life satisfaction; a transition from unemployment to employment, however, has stronger positive effects in absolute terms. The asymmetry of the non-pecuniary effect indicates a potential “omitted variable bias” in previous empirical happiness studies.