nep-cul New Economics Papers
on Cultural Economics
Issue of 2014‒08‒28
five papers chosen by
Roberto Zanola
Università degli Studi del Piemonte Orientale “Amedeo Avogadro”

  1. Road for Cultural Heritage : Policy Note on Cultural Heritage and Infrastructure Development in Timor-Leste By World Bank
  2. Comoros Tourism Sector Review : Discovering the Tourism Potential of Natural Wonders By World Bank
  3. The Market for Paintings in Paris between Rococò and Romanticism By Federico Etro; Elena Stepanova
  4. Cultural heritage protection system in Japan: current issues and prospects for the future By Emiko Kakiuchi
  5. "Phantom of the Opera" or "Sex and the City"? Historical Amenities as Sources of Exogenous Variation By Bauer, Thomas K.; Breidenbach, Philipp; Schmidt, Christoph M.

  1. By: World Bank
    Keywords: Culture and Development - Cultural Policy Urban Development - City Development Strategies Culture and Development - Culture in Sustainable Development Accommodation and Tourism Industry Cultural Heritage and Preservation Industry
    Date: 2013–07
  2. By: World Bank
    Keywords: Environment - Tourism and Ecotourism Culture and Development - Cultural Policy Accommodation and Tourism Industry Cultural Heritage and Preservation Transport Economics Policy and Planning Transport Industry
    Date: 2013–07
  3. By: Federico Etro (Department of Economics, University Of Venice Cà Foscari); Elena Stepanova (Sant’Anna School of Advanced Studies, Pisa)
    Abstract: We analyze organization of auctions and bidding strategies with a unique dataset on Paris auctions between 700s and 800s. Prices reflect the objective features of the paintings and of the sale, and they reveal a substantial death effect, with upward jumps in the years after the death of the artists. Both the hedonic and repeated sale price indexes show a declining pattern for the relative price of paintings starting with the French Revolution. On this basis we analyze the emerging role and market power of art dealers and employ network theory to study whether they created rings to manipulate the outcome of the auctions for their profits. Dealers appear to have been divided into four main communities heavily trading between themselves and we find evidence of collusive behavior with lower hammer prices for buyers belonging to the same community of the dealers organizing the auction.
    Keywords: Art market, Hedonic prices, Repeated sales price index, Network theory.
    JEL: Z11 N0 D4
    Date: 2014
  4. By: Emiko Kakiuchi (National Graduate Institute for Policy Studies)
    Abstract: This paper shows how the social importance of heritage in Japan has grown, focusing on the evolution of the protection system. Heritage protection has been carried out, largely by the national government, for more than 150 years. Epochal events such as the modernization of the Meiji restoration in 1868 and the democratization at the end of World War II (WWII) in 1945 greatly affected both the designation of the heritage to be protected and the protection system. Rescue of the possessions of the declining aris-tocracy and temples was the original purpose in the late 1800s, and in the immediate pre-WWII period nationalistic motivations became more important. After WWII, heritage was treated as a national asset, but remained a relatively small part of society for a long time. However the importance of heritage val-ues has recently been increasingly recognized and protection measures diversified as Japan has matured in terms of its society and economy. Today heritage is being integrated and linked closely with commu-nity development, and its protection is being carried out not only by government but also by various stakeholders.
    Date: 2014–08
  5. By: Bauer, Thomas K. (RWI); Breidenbach, Philipp (RWI); Schmidt, Christoph M. (RWI)
    Abstract: Using the location of baroque opera houses as a natural experiment, Falck et al. (2011) claim to document a positive causal effect of the supply of cultural goods on today's regional distribution of talents. This paper raises serious doubts on the validity of the identification strategy underlying these estimates, though. While we are able to replicate the original results, we proceed to show that the same empirical strategy also assigns positive causal effects to the location of historical brothels and breweries. These estimated effects are similar in size and significance to those of historical opera houses. We document that all these estimates reflect the importance of institutions for long-run economic growth, and that the effect of historical amenities on the contemporary local share of high skilled workers disappears upon controlling for regions' historical importance.
    Keywords: human capital, historical amenities, regional competiveness
    JEL: R11 H42 J24
    Date: 2014–08

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