We test the luxury consumption hypothesis of Ait-Sahalia, Parker, and Yogo (2004), using a unique international art price, import/export flow, and stock market data set. We find that the demand for ...art by Japanese collectors is positively correlated with art prices and Japanese stock prices. This correlation is magnified during the “bubble period” of the Japanese economy (the mid-1980s to the early 1990s) and gains even further strength for works of art typically favored by Japanese collectors. Our results suggest that Japanese investors (or Japanese asset markets) indeed affect international art prices—especially during the bubble period and its aftermath.
What was the historiography of Il mondo nuovo, a fresco painted in 1791 by Giandomenico Tiepolo? How did its title emerge? Giandomenico likely found the inspiration for his subject in popular ...entertainment on Venice's Piazzetta. The houselike structure in the fresco's middle ground-a peep show-had been labeled il mondo nuovo by the eighteenth-century playwright Carlo Goldoni. Yet the fresco was not named until after 1906. Art historian Pompeo Molmenti introduced the Goldoni-inspired title, his efforts seconded by Corrado Ricci, a powerful art administrator. Both were steeped in the "politics of nostalgia," associated with the Italian Aesthetic movement.
Discusses visual sources for "Luther à la diète de Worms, le 18 avril 1521" (c.1856-57), a monumental painting by the French artist Pierre-Antoine Labouchere (1807-1873). Traces the likely influence ...on Labouchere of a book of wood engravings entitled "Dr. Martin Luther: Der deutsche Reformator in bildlichen Darstellungen" by Gustav König, a German artist associated with movement known as the Nazarenes. Suggests that the appearance of Labouchere's magnum opus on the walls of Parisian salons during the years of the July Monarchy and the beginning of the Second Republic signified the newly gained normalcy with which French society and its governmental institutions treated Protestantism. (Quotes from original text)
Revolutionary Paris and the Market for Netherlandish Art restores attention to the aesthetic, intellectual, and economic link between two key periods in the history of art: the "Golden Age" of Dutch ...and Flemish painting and that of the French Revolution.
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