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Does fine wine price contain useful information to forecast GDP? Evidence from major developed countries
Zhuo Qiao1; Patrick Kuok-Kun Chu2
2014-02
Source PublicationEconomic Modelling
ISSN0264-9993
Volume38Pages:75 – 79
Abstract

This study provides the first attempt to examine the ability of the price of fine wine to forecast the Gross Domestic Product (GDP) for the major developed countries. Considering the limitation of a linear Granger causality test in detecting nonlinear causal relationships, a nonlinear Granger causality test is also employed. The results from our nonlinear causality test show that this new variable contains useful information to forecast GDP for the US, the UK, and Australia, suggesting that we may include it as a forecasting variable in GDP forecasting models, especially nonlinear models, for these three countries.

KeywordPrice Of Fine Wine Gdp Granger Causality Test Forecast
DOIhttps://doi.org/10.1016/j.econmod.2013.12.006
Indexed BySSCI ; SSCI
Language英语
WOS Research AreaBusiness & Economics
WOS SubjectEconomics
WOS IDWOS:000334137900010
PublisherElsevier
Fulltext Access
Citation statistics
Cited Times [WOS]:6   [WOS Record]     [Related Records in WOS]
Document TypeJournal article
CollectionFaculty of Business Administration
DEPARTMENT OF FINANCE AND BUSINESS ECONOMICS
DEPARTMENT OF ACCOUNTING AND INFORMATION MANAGEMENT
Corresponding AuthorPatrick Kuok-Kun Chu
Affiliation1.Department of Finance and Business Economics, Faculty of Business Administration, University of Macau, Avenida Padre Tomas Pereira, Taipa, Macao
2.Department of Accounting and Information Management, Faculty of Business Administration, University of Macau, Avenida Padre Tomas Pereira, Taipa, Macao
First Author AffilicationFaculty of Business Administration
Corresponding Author AffilicationFaculty of Business Administration
Recommended Citation
GB/T 7714
Zhuo Qiao,Patrick Kuok-Kun Chu. Does fine wine price contain useful information to forecast GDP? Evidence from major developed countries[J]. Economic Modelling,2014,38:75 – 79.
APA Zhuo Qiao,&Patrick Kuok-Kun Chu.(2014).Does fine wine price contain useful information to forecast GDP? Evidence from major developed countries.Economic Modelling,38,75 – 79.
MLA Zhuo Qiao,et al."Does fine wine price contain useful information to forecast GDP? Evidence from major developed countries".Economic Modelling 38(2014):75 – 79.
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