EconPapers    
Economics at your fingertips  
 

Art collections and taste in the Spanish Siglo de Oro

Federico Etro () and Elena Stepanova

Journal of Cultural Economics, 2017, vol. 41, issue 3, 309-335

Abstract: Abstract We analyze art pricing in a unique dataset on Madrid inventories between 1600 and 1750. We estimate a price index for the Spanish art market that is used for a general historical analysis of art during this period, showing a large increase in the real price of paintings during the XVII century. Then we examine the price differential between domestic and foreign paintings: At the beginning of the century domestic production was priced substantially below imported paintings, but the price gap was gradually reduced during the century. We argue that such a price convergence was not the fruit of variations in real exchange rate, relative supply or home bias, but was associated with increasing prices for the new domestic painters of the XVII century. Increasing remuneration for painting may have induced artistic innovations by domestic producers and created the conditions for the development of the Siglo de Oro of Spanish art.

Keywords: Schumpeterian hypothesis; Lopez hypothesis; International trade of paintings (search for similar items in EconPapers)
JEL-codes: Z11 N0 L14 D4 (search for similar items in EconPapers)
Date: 2017
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (7) Track citations by RSS feed

Downloads: (external link)
http://link.springer.com/10.1007/s10824-016-9267-8 Abstract (text/html)
Access to full text is restricted to subscribers.

Related works:
Working Paper: Art Collections and Taste in the Spanish Siglo de Oro (2015) Downloads
Working Paper: Art Collections and Taste in the Spanish Siglo de Oro (2015) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:kap:jculte:v:41:y:2017:i:3:d:10.1007_s10824-016-9267-8

Ordering information: This journal article can be ordered from
http://www.springer. ... cs/journal/10824/PS2

Access Statistics for this article

Journal of Cultural Economics is currently edited by Kathryn Graddy and Samuel Cameron

More articles in Journal of Cultural Economics from Springer, The Association for Cultural Economics International Contact information at EDIRC.
Bibliographic data for series maintained by Sonal Shukla ().

 
Page updated 2019-10-19
Handle: RePEc:kap:jculte:v:41:y:2017:i:3:d:10.1007_s10824-016-9267-8