This study deals with the seasonality of monthly time series of nominal exchange rates. Available literature overlooks seasonality in nominal bilateral exchange rates, and generally assumes that such rates are non-seasonal. We show that seasonality is absent in recent data, while it was present...

We study the relationship between artist and art dealer, interpreting them as the members of a marketing channel, as defined by the industrial organization and marketing science literature. The results for both parties depend on the individual efforts of each of them. Uncoordinated efforts lead...

In this paper we study the behaviour of labour-managed firms that produce artistic goods. In particular, we investigate whether the production of a particular output — the arts — leads to overcome the static inefficiency entailed by labour-managed firms. The possibility depends on specific...

We analyse the pattern of daily Euro--US Dollar exchange rate from the birth of Euro, in January 1999, until December 2012. This series is I(1), as is usual for nominal bilateral exchange rates; however, it is far from following a random walk process. We find evidence of the presence of day...

This paper takes a time series analysis approach to evaluate the directions of causality between tourism flows, on the one side, and museum and monument attendance, on the other. We consider Italy as a case study, and analyze monthly data over the period January 1996 to December 2007. All...

We present a sequential game to study the introduction of collective property rights, such as trademarks, in cultural districts, aimed at protecting and supporting the idiosyncratic nature of local production. The first step of the game is the public decision on whether creating the trademark or...