The influence of economic policy uncertainty shocks on art market

被引:1
|
作者
Abakah, Emmanuel Joel Aikins [1 ]
Tiwari, Aviral Kumar [2 ,3 ]
Arthur, Emmanuel Kwesi [4 ]
Alberiko Gil-Alana, Luis [5 ,6 ]
机构
[1] Univ Ghana Business Sch, Accra, Ghana
[2] Indian Inst Management Bodh Gaya IIM Bodh Gaya, Bodh Gaya 824234, India
[3] Rajagiri Business Sch, Kochi, Kerala, India
[4] Kenyatta Univ, Nairobi, Kenya
[5] Univ Navarra, Pamplona, Spain
[6] Univ Francisco de Victoria, Madrid, Spain
关键词
Global and USA art markets; policy uncertainty; global wavelet analysis; painting market returns; WAVELET TRANSFORMS; LONG-RUN; SELECTION; INVESTMENT; EFFICIENCY; BUBBLES; IMPACT;
D O I
10.1080/00036846.2022.2114999
中图分类号
F [经济];
学科分类号
02 ;
摘要
We contribute to the literature by studying the impact of economic policy uncertainty shocks on returns in the global art market, the global paintings market and the U.S.A art market from 1998:Q1 to 2018:Q3. Based on the frequency domain Granger causality test and continuous wavelets analysis, the results show that an increase in policy uncertainty shocks significantly reduces returns on art and paintings and that the effect is stronger during extreme volatility periods. Policy implications are derived at the end of the article.
引用
收藏
页码:3404 / 3421
页数:18
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