Do emerging art market segments have their own price dynamics? Evidence from the Chinese art market
International Review of Economics and Finance
; 84:318-331, 2023.
Article
in English
| Scopus | ID: covidwho-2246168
ABSTRACT
This study examines the nonlinear dynamics in the price series of Chinese art market segments between 2000 and 2019. We employ a hedonic price model to construct price indices of Chinese art market segments and analyze the nonlinearities and regime-switching properties of the individual segment using a series of Markov switching model specifications. We argue that occasional shocks would only temporarily alter their data-generating processes and have transitory effects. Moreover, we investigate the impact of COVID-19 on Chinese art market segments. Our findings have implications for market participants in identifying the price characteristics and dynamic behavior of art market segments. © 2022 The Author
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Collection:
Databases of international organizations
Database:
Scopus
Language:
English
Journal:
International Review of Economics and Finance
Year:
2023
Document Type:
Article
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