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
来源：
APPLIED ECONOMICS | 2023年 / 55卷 / 29期
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
相关论文
共 50 条
  • [41] Economic policy uncertainty and stock market returns: New evidence
    Xu, Yongan
    Wang, Jianqiong
    Chen, Zhonglu
    Liang, Chao
    NORTH AMERICAN JOURNAL OF ECONOMICS AND FINANCE, 2021, 58
  • [42] Economic policy uncertainty and options market participation: Hedge or speculation?
    Wang, Chunfeng
    Li, Tong
    Sensoy, Ahmet
    Cheng, Feiyang
    Fang, Zhenming
    BORSA ISTANBUL REVIEW, 2024, 24 : 50 - 59
  • [43] How does economic policy uncertainty affect the bitcoin market?
    Wang, Pengfei
    Li, Xiao
    Shen, Dehua
    Zhang, Wei
    RESEARCH IN INTERNATIONAL BUSINESS AND FINANCE, 2020, 53
  • [44] The effect of economic policy uncertainty on China's housing market
    Huang, Wei-Ling
    Lin, Wen-Yuan
    Ning, Shao-Lin
    NORTH AMERICAN JOURNAL OF ECONOMICS AND FINANCE, 2020, 54
  • [45] US ECONOMIC POLICY UNCERTAINTY AND GCC STOCK MARKET PERFORMANCE
    Saeed, Abdullah
    STUDIES IN BUSINESS AND ECONOMICS, 2020, 15 (01) : 223 - 242
  • [46] Economic policy uncertainty in China and stock market expected returns
    Chen, Jian
    Jiang, Fuwei
    Tong, Guoshi
    ACCOUNTING AND FINANCE, 2017, 57 (05): : 1265 - 1286
  • [47] UNCERTAINTY ABOUT THE PERSISTENCE OF ECONOMIC SHOCKS
    MILLER, JP
    NEWBOLD, P
    JOURNAL OF BUSINESS & ECONOMIC STATISTICS, 1995, 13 (04) : 435 - 440
  • [48] Nonlinear impact of economic policy uncertainty shocks on credit scale: Evidence from China
    Jiang, Yonghong
    He, Luli
    Meng, Juan
    Nie, He
    PHYSICA A-STATISTICAL MECHANICS AND ITS APPLICATIONS, 2019, 521 : 626 - 634
  • [49] Effects of economic policy uncertainty shocks on the interdependence between Bitcoin and traditional financial markets
    Matkovskyy, Roman
    Jalan, Akanksha
    Dowling, Michael
    QUARTERLY REVIEW OF ECONOMICS AND FINANCE, 2020, 77 : 150 - 155
  • [50] Retraction Note: Economic policy uncertainty and commodity market volatility: implications for economic recovery
    Daiyou Xiao
    Jinxia Su
    Bakhtawer Ayub
    Environmental Science and Pollution Research, 2024, 31 (33) : 46111 - 46111
12345