IDEAS home Printed from https://ideas.repec.org/a/kap/atlecj/v41y2013i3p301-315.html
   My bibliography  Save this article

Bringing Culture to Macroeconomics

Author

Listed:
  • Milton Marquis

Abstract

A two-sector dynamic general equilibrium model is constructed to examine the interaction between the cultural and noncultural sectors of the economy. It stresses three aspects of cultural economics that have been much discussed in the literature: (i) the productivity lag in the production of cultural goods, described by Baumol and Bowen ( 1996 ); (ii) the role of cultural capital in production; and (iii) the treatment of cultural goods as an acquired taste along the lines of Becker’s notion of positive rational addiction. The results suggest that the more significant the role played by cultural capital in the economy, the greater will be the growth rates of output in both sectors of the economy. The model is suggestive of future research into the importance of the macroeconomy on the cultural sector, and the potential importance of the cultural sector on the macroeconomy. Copyright International Atlantic Economic Society 2013

Suggested Citation

  • Milton Marquis, 2013. "Bringing Culture to Macroeconomics," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 41(3), pages 301-315, September.
    • Handle: RePEc:kap:atlecj:v:41:y:2013:i:3:p:301-315
    DOI: 10.1007/s11293-013-9377-z
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1007/s11293-013-9377-z
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1007/s11293-013-9377-z?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Robert E. Lucas Jr. & Benjamin Moll, 2014. "Knowledge Growth and the Allocation of Time," Journal of Political Economy, University of Chicago Press, vol. 122(1), pages 1-51.
    2. Towse,Ruth, 2010. "A Textbook of Cultural Economics," Cambridge Books, Cambridge University Press, number 9780521888721, June.
    3. Anne-Kathrin Last & Heike Wetzel, 2011. "Baumol’s cost disease, efficiency, and productivity in the performing arts: an analysis of german public theaters," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 35(3), pages 185-201, August.
    4. James Heilbrun, 2001. "Empirical Evidence of a Decline in Repertory Diversity among American Opera Companies 1991/92 to 1997/98," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 25(1), pages 63-72, February.
    5. Towse,Ruth, 2010. "A Textbook of Cultural Economics," Cambridge Books, Cambridge University Press, number 9780521717021, June.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Ruth Towse, 2011. "Opera and Ballet," Chapters, in: Ruth Towse (ed.), A Handbook of Cultural Economics, Second Edition, chapter 43, Edward Elgar Publishing.
    2. Bruce Seaman, 2017. "¿Qué está en juego al optar entre distintas formas de apoyo para el sector cultural?," Estudios Públicos, Centro de Estudios Públicos, vol. 0(146), pages 121-162.
    3. Victor Fernandez-Blanco & Juan Prieto-Rodriguez & Javier Suarez-Pandiello, 2015. "A quantitative analysis of reading habits," ACEI Working Paper Series AWP-05-2015, Association for Cultural Economics International, revised May 2015.
    4. Karol Jan Borowiecki & Trilce Navarrete, 2018. "Fiscal and economic aspects of book consumption in the European Union," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 42(2), pages 309-339, May.
    5. Janowska, Anna Anetta & Malik, Radosław, 2020. "Digitization in museums: Between a fashionable trend and market awareness," Studia z Polityki Publicznej / Public Policy Studies, Warsaw School of Economics, vol. 7(3), pages 1-15, October.
    6. Luigi Di Gaetano & Isidoro Mazza, 2017. "“Better an egg today than a hen tomorrow” on the implications of deaccess policies for donations to museums," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 41(3), pages 237-258, August.
    7. Aleksandra Wiśniewska & Wiktor Budziński & Mikołaj Czajkowski, 2018. "Publicly funded cultural institutions – a comparative economic valuation study," Working Papers 2018-22, Faculty of Economic Sciences, University of Warsaw.
    8. Jose A Bermudez Trivino & Lina M Medina Hurtado & Luis Fernando Aguado Quintero, 2015. "Analyzing the decision to listen to recorded music. A microeconometric approach," Working Papers 3, Faculty of Economics and Management, Pontificia Universidad Javeriana Cali.
    9. Weber, Cameron & Zhen, Ying & Arias, JJ, 2022. "Practice, Entrepreneurship and Subjectivity in Artist Identification with Applications to the Covid-Era," MPRA Paper 115712, University Library of Munich, Germany.
    10. Gillian Doyle, 2010. "Why culture attracts and resists economic analysis," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 34(4), pages 245-259, November.
    11. Bermúdez Triviño, José A. & Medina Hurtado, Lina M. & Aguado Quintero, Luis F., 2016. "La decisión de escuchar música grabada en Colombia. Un enfoque microeconométrico || The decision of listening to recorded music in Colombia. A microeconometric approach," Revista de Métodos Cuantitativos para la Economía y la Empresa = Journal of Quantitative Methods for Economics and Business Administration, Universidad Pablo de Olavide, Department of Quantitative Methods for Economics and Business Administration, vol. 21(1), pages 21-38, June.
    12. Jansson Johan, 2014. "Temporary events and spaces in the Swedish primary art market," ZFW – Advances in Economic Geography, De Gruyter, vol. 58(1), pages 202-215, October.
    13. KOZLOVA Maria, 2017. "Regional differentiation in Russian cultural industries: the statistical measurement and the results for the state government," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 17(2), pages 47-60.
    14. Namyślak Beata, 2019. "Regional diversification of cultural sector potential in Poland," Bulletin of Geography. Socio-economic Series, Sciendo, vol. 45(45), pages 95-107, September.
    15. Gabriel Ahlfeldt & Kristoffer Möller & Sevrin Waights & Nicolai Wendland, 2012. "On prisoner's dilemmas and gilded cages: The economics of heritage preservation," ERSA conference papers ersa12p783, European Regional Science Association.
    16. Terry Flew & Adam Swift, 2013. "Cultural policy," Chapters, in: Ruth Towse & Christian Handke (ed.), Handbook on the Digital Creative Economy, chapter 14, pages 155-161, Edward Elgar Publishing.
    17. Andrej Srakar, 2017. "Prevalence of Diseases and Health Care Utilization ofthe Self-Employed Artists and TheirEmpirical Determinants: Evidence From a Slovenian Survey," ACEI Working Paper Series AWP-08-2017, Association for Cultural Economics International, revised Sep 2017.
    18. Jasmin Droege, 2022. "First impression biases in the performing arts: taste-based discrimination and the value of blind auditioning," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 46(3), pages 391-437, September.
    19. Aleksandra Wiśniewska & Mikołaj Czajkowski, 2015. "Utilizing the Discrete Choice Experiment Approach for Designing a Socially Efficient Cultural Policy: The case of municipal theaters in Warsaw," Working Papers 2015-36, Faculty of Economic Sciences, University of Warsaw.
    20. Klimczuk, Andrzej, 2014. "Barriers to the Development of Creative Industries in Culturally Diverse Region," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 22(2), pages 145-152.

    More about this item

    Keywords

    Cultural economics; Cultural capital; Productivity lag; Positive rational addiction; E00; E20; E22;
    All these keywords.

    JEL classification:

    • E00 - Macroeconomics and Monetary Economics - - General - - - General
    • E20 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - General (includes Measurement and Data)
    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:kap:atlecj:v:41:y:2013:i:3:p:301-315. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.