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CHRISTMAS ECONOMICS—A SLEIGH RIDE
Author(s) -
Birg Laura,
Goeddeke Anna
Publication year - 2016
Publication title -
economic inquiry
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.823
H-Index - 72
eISSN - 1465-7295
pISSN - 0095-2583
DOI - 10.1111/ecin.12356
Subject(s) - economics , consumer welfare , deadweight loss , stock (firearms) , business cycle , welfare , microeconomics , keynesian economics , market economy , engineering , mechanical engineering
This article reviews the literature on Christmas economics. First, we present an overall picture of the debate on the potential welfare loss of gift‐giving and we show strategies that reduce the potential welfare loss and might increase the number of presents received. Second, we discuss the effect of Christmas on prices and the business cycle. We provide evidence that at Christmas stock prices and airfares increase, while food prices decrease. ( JEL D6, E3, H4, Z1)