Journal of Cultural Economics

, Volume 30, Issue 2, pp 109–125 | Cite as

Estimating the real growth effects of blockbuster art exhibits: A time series approach

Original Article

Abstract

This paper addresses the evaluation of real growth forecasts made by impact studies. Intervention analysis is used to estimate the ex post impact of blockbuster exhibits on economic growth in Jackson, Mississippi (chosen because state and local governments provide regular subsidies to finance the exhibitions). Non-farm employment measures real economic growth and dummy variables capture the occurrence of the exhibitions. Univariate time series techniques identify and estimate a stationary process after filtering the data for seasonal and cyclical effects. The analysis estimates the short run impact on Jackson’s filtered employment series due to the blockbuster exhibitions as approximately 700 jobs.

Keywords

Ex post evaluation of ex ante forecasts Blockbuster art exhibits Intervention analysis Job creation Local economic growth 

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Copyright information

© Springer Science + Business Media B.V. 2006

Authors and Affiliations

  1. 1.Department of Economics and FinanceUniversity of Louisiana at LafayetteLafayetteUSA

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