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on Cultural Economics |
| By: | Geraldine David (Universite Libre de Bruxelles); Kim Oosterlinck (Universite Libre de Bruxelles) |
| Abstract: | During World War II, the art market experienced a massive boom in occupied countries. The discretion, the inflation proof character, the absence of market intervention and the possibility to resell artworks abroad have been suggested to explain why investing in artworks was one of the most interesting opportunities under the German boot. On basis of an original database of close to 4000 artworks sold between 1944 and 1951 at Giroux, one of the most important Art Gallery in Brussels, this paper analyzes, the price movements on the Belgian art market following the liberation. Market reactions following the war are used to understand which motivations played the most important role in investorsÕ decisions. Prices on the art market experienced a massive drop. This huge price decline is attributed to two elements: fear of prosecution for war profits and the monetary reforms set into place in October 1944. |
| Keywords: | Art market, Art Investment, WWII, Belgium, Post-war, Monetary reforms |
| JEL: | N14 N44 Z11 |
| Date: | 2012–01 |
| URL: | http://d.repec.org/n?u=RePEc:hes:wpaper:0012&r=cul |
| By: | Pierre-Jean Benghozi (PREG - Pole de recherche en économie et gestion - CNRS : UMR7176 - Polytechnique - X) |
| Abstract: | Internet, lecteurs MP3, TNT, home studios, caméras et appareils photo numériques, smartphones, Ipad ou Kindle, les industries culturelles ont été simultanément frappées par plusieurs mutations de leur environnement associées à l'émergence d'une nouvelle vague technique, à base de technologies de l'information et de la communication . Ces transformations ont contribué, bien au-delà du seul internet, à faire évoluer les mondes de l'art et de la culture : en bouleversant la nature de œuvres créées, leurs modes de distribution, leurs économies tout autant que les usages, pratiques et attitudes des consommateurs . Ces évolutions - et les difficultés associées - se sont accompagnées de l'apparition de nouveaux concepts pour rendre compte de ce contexte économique et du rôle déterminant qu'y joue la création artistique et culturelle dans la création de valeur . On est ainsi passé en quelques années des notions d'industries de la culture, à celles d'industries culturelles puis d'industries créatives et d'industries de contenus. Ce changement explicite de terminologie est le signe de profondes incertitudes. Au moment où les grandes industries de la culture et des médias affrontent de graves crises (télévision, livre, presse, musique notamment), l'émergence des concepts d'industries créatives ou de contenus traduit l'espoir que la créativité peut dynamiser l'ensemble de l'économie et assurer la permanence de la production artistique et culturelle. |
| Keywords: | économie de la culture; internet; technologie de l'information et de la communication; industrie de la culture; industries culturelles; industries créatives; industries de contenu. |
| Date: | 2011–07 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-00657999&r=cul |
| By: | Dutta, Nabamita; Mukherjee, Deepraj |
| Abstract: | The paper investigates the missing link in the literature – whether informal institutions, or what is known as culture, can affect the level of financial development for a country? Our hypothesis stresses that the cultural dimensions of a country can have an impact on its financial set up. We consider multiple dimensions of culture, identified in the literature by Tabellini, to test our hypothesis. As culture evolve in the form of greater trust, control and other traits, individuals’ attitudes towards financial market change, and they engage in greater financial transactions. This, in turn, leads to better financial development. Using quantile estimation technique for a cross-section of 90 countries we find that culture significantly influences the level of financial development. To ensure the robustness of our findings we use Hofstede’s cultural dimension-‘uncertainty avoidance index’ as an alternative measure for culture. Our results hold for multiple measures of financial development. |
| Keywords: | Informal Institutions; Financial Development; Culture; Social capital |
| JEL: | G1 Z1 O17 |
| Date: | 2011–05–13 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:35867&r=cul |
| By: | Gilles Le Garrec (Observatoire Français des Conjonctures Économiques); (Observatoire Français des Conjonctures Économiques) |
| Abstract: | Departing from mainstream economics, surveys ?rst show that individ- uals do care about fairness in their demand for redistribution. They also show that the cultural environment in which individuals grow up a¤ects their preferences about redistribution. Including these two components of the demand for redistribution, we propose in this article a mechanism of cultural transmission of the taste for fairness. Consistently with the process of socialization, the young preferences depend on collective choices through observation and imitation. Observation during childhood of redistributive policies far from what is perceived as fair results then in a lower taste for fairness. As a consequence, the model exhibits a multiplicity of history- dependent steady states which may account for the huge di¤erence of redis- tribution observed between Europe and the United States. |
| Keywords: | redistribution, voting behavior, fairness, endogenous preferences |
| JEL: | H53 D72 D64 |
| Date: | 2011–12 |
| URL: | http://d.repec.org/n?u=RePEc:fce:doctra:1124&r=cul |