We conduct an empirical analysis of the effect on the auction price of a Canadian painting of the age of the painter at the time of creation of the painting. We consider several hundred artists, active over the entire history of Canadian art, who are pooled in the estimation of a hedonic...

We propose a general non-linear simultaneous equations framework for the econometric analysis of models of intervention in foreign exchange markets by central banks in response to deviations of exchange rates from target levels. We consider the instrumental variables estimation of possibly...

Although the market for Canadian paintings is now of substantial magnitude, with several works having recently sold for well over a million dollars, it remains true that with very few exceptions, the works of Canadian painters are bought and sold only in Canada and held only by Canadian...