Dynamics of the global fine art market prices

被引：12
|
作者：
Le Fur, Eric [1 ]
机构：
[1] INSEEC Sch Business & Econ INSEEC Res, H19 Quai Bacalan,CS 63089, F-33000 Bordeaux, France
来源：
QUARTERLY REVIEW OF ECONOMICS AND FINANCE | 2020年 / 76卷
关键词：
Art; Cointegration; Dynamics; index; VECTOR AUTOREGRESSIONS; TIME-SERIES; COINTEGRATION; INVESTMENT; PAINTINGS; INFERENCE;
D O I：
10.1016/j.qref.2019.05.014
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This article examines the short- and long-run linkages among art market indexes between 1998 and 2016 using cointegration procedures, the Granger noncausality test and the Error Correction Model. These art indexes are examined by category: global, art method, time, and currency/country. The results indicate that there are a few causal linkages between art market indexes, notably that there is feedback between a few markets. These moderate causal links between art market indexes would indicate that there are many opportunities for diversification for practitioners, investors and collectors. (C) 2019 Board of Trustees of the University of Illinois. Published by Elsevier Inc. All rights reserved.
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页码：167 / 180
页数：14
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