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Professor David Yermack's research on the economic impact of Michelle Obama's fashion choices is cited

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Excerpt from Vogue Australia -- "As one of the most fashionable figures in politics, Obama was also credited with having a rather large economic impact within the fashion industry. In fact, a 2010 study conducted by Professor David Yermack from New York University’s Stern School of Business found that, when the former First Lady stepped out in a particular style, the value of the label she was wearing jumped up approximately US$14 million."

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