pt. 1. Technical and structural elements of the art market -- pt. 2. Cultural policy and management in art business -- pt. 3. Regulatory, legal, and ethical issues in the art world -- pt. 4. Voices from the field.

In a VAR model of the US, the response of the relative price of durables to a monetary contraction is either flat or mildly positive. It significantly falls only if narrowly defined as the ratio between new house and nondurables prices. These findings survive three identification strategies and...