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Return on violin and macroeconomic fluctuation

Author

Listed:
  • M. W. Luke Chan

    (McMaster University)

  • Dan Sabrina Gong

    (Brock University)

  • Terry A. Yip

    (McMaster University)

Abstract

We investigate the return on holding valuable violins over time, particularly the macroeconomic fluctuation. We shed new light on how macroeconomic variables can affect the return on holding valuable violins. The average return on violins is higher if the violins sold during a non-recession time. Also, there are fewer transactions during recessionary times. By studying the return of different violinmakers and associated violin name, we also shed light on the effect of the violinmaker’s reputation on return.

Suggested Citation

  • M. W. Luke Chan & Dan Sabrina Gong & Terry A. Yip, 2020. "Return on violin and macroeconomic fluctuation," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 44(2), pages 339-346, June.
    • Handle: RePEc:kap:jculte:v:44:y:2020:i:2:d:10.1007_s10824-019-09356-1
    DOI: 10.1007/s10824-019-09356-1
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    References listed on IDEAS

    as
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    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Violin market; Macroeconomic fluctuation; Reputation effect; Auction price;
    All these keywords.

    JEL classification:

    • D44 - Microeconomics - - Market Structure, Pricing, and Design - - - Auctions
    • E39 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Other
    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • L82 - Industrial Organization - - Industry Studies: Services - - - Entertainment; Media

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