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Home
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Working Papers
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Macroeconomic determinants of wine prices

Working Paper No. 202

Published: 2016
Category:
Economics

Macroeconomic determinants of wine prices

Linda Jiao
Full Text PDF
Abstract
This paper identifies the macroeconomic determinants of fine wine prices and estimates their impacts on a monthly database from 1996 to 2015. The fine wine demand from emerging markets plays a key role in fine wine pricing, and more precisely, on the fluctuation of Bordeaux fine wine prices. Furthermore, the continuous weakening of the U.S. Dollar in real term favors the fine wine prices to increase. Since 2011, the slowdown of economic growth in emerging markets, followed by the depreciation of national currencies has engendered negative effects on the fine wine market. Along with the process of financialization in the fine wine market, fine wine prices have become more volatile. Factors such as money supply, real interest rate and the growth of investment funds start to show their influence on fine wine pricing.

Submission

Please send your papers as PDF files to the editor, Victor Ginsburgh, at vginsbur@ulb.ac.be
Papers will be quickly reviewed, prior to potential posting on the website. Decision will be to post or not, possibly with short comments, but without referee reports. The decision will be based primarily on the suitability of the paper’s topic to the aims of the Association.
Such decisions are independent of publication decisions for the Journal of Wine Economics.

Working Paper publication requires that at least one author
is a regular member of AAWE.

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