{"title":"Investment Policy Impacts on the Australian Aboriginal Art Market","authors":"Jenny Lye, Joe Hirschberg","doi":"10.1111/1467-8462.12532","DOIUrl":null,"url":null,"abstract":"<p>Legislation designed for one purpose may have unrelated side effects. In this article we examine the impact of recent changes in the application of the <i>sole purpose test</i> for artworks to be used as assets in retirement funds on the Australian Aboriginal art market. This is important since art sales represent a significant source of non-government income for remote Australian Aboriginal communities. In this article we estimate the impact of this change and others on the price index based on the hammer prices paid for 13,555 works by 187 artists at art auctions from 1994 to 2019.</p>","PeriodicalId":46348,"journal":{"name":"Australian Economic Review","volume":"57 1","pages":"21-40"},"PeriodicalIF":1.0000,"publicationDate":"2023-12-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/1467-8462.12532","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Australian Economic Review","FirstCategoryId":"96","ListUrlMain":"https://onlinelibrary.wiley.com/doi/10.1111/1467-8462.12532","RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"ECONOMICS","Score":null,"Total":0}
引用次数: 0
Abstract
Legislation designed for one purpose may have unrelated side effects. In this article we examine the impact of recent changes in the application of the sole purpose test for artworks to be used as assets in retirement funds on the Australian Aboriginal art market. This is important since art sales represent a significant source of non-government income for remote Australian Aboriginal communities. In this article we estimate the impact of this change and others on the price index based on the hammer prices paid for 13,555 works by 187 artists at art auctions from 1994 to 2019.
期刊介绍：
An applied economics journal with a strong policy orientation, The Australian Economic Review publishes high-quality articles applying economic analysis to a wide range of macroeconomic and microeconomic topics relevant to both economic and social policy issues. Produced by the Melbourne Institute of Applied Economic and Social Research, it is the leading journal of its kind in Australia and the Asia-Pacific region. While it is of special interest to Australian academics, students, policy makers, and others interested in the Australian economy, the journal also considers matters of international interest.
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