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This interdisciplinary volume illuminates housing's impact on both wealth and community, and examines legal and policy responses to current challenges. Also available as Open Access.
Cultural heritage is a complex and elusive concept, constantly evolving through time, and combining cultural, aesthetic, symbolic, spiritual, historical and economic values. The Handbook on the Economics of Cultural Heritage outlines the contribution of economics to the design and analysis of cultural heritage policies and to addressing issues related to the conservation, management and enhancement of heritage. The Handbook takes a multidisciplinary approach, using cultural economics as a theoretical framework to illustrate how crucial and stimulating cross-disciplinary dialogue actually is. Contributors scrutinise the co-existence of cultural and economic values as well as the new challenges that arise from changes brought about by technology, and relationships between the different actors engaged in the production, distribution and consumption of heritage services. The roles of public, private and non-profit organizations are also explored. Case studies underpin the discussion, demonstrating the clear and vital link between theory and practice. This highly unique Handbook will prove a fascinating and informative read for academics, researchers, students and policymakers with an interest in cultural economics.
With the exponential rise in leisure mobility, tourism has increasingly become of great economic significance. Cultural heritage, such as museums, churches, historical landscapes, urban parks, and exhibitions attract many visitors and countries, regions and cities which house such historic-cultural amenities have seen increasingly large waves of tourists. While an avalanche of tourists has a positive impact on the local economy, such modern mass tourism also brings about negative externalities such as congestion, decline in quality of life, low access to cultural amenities and loss of local identity; to the extent that the sustainability conditions of a locality might be endangered. This tourism dilemma is particularly pronounced in cities with a rich cultural past, such as Venice, Naples and Amsterdam. Bringing together an interdisciplinary team of leading scholars from North America and Europe, this book examines the interface of local cultural resources and modern mass tourism from a sustainability perspective. It puts forward innovative methodologies and best case practice for future cultural conservation policies.
Historic preservation is typically regarded as an elitist practice. In this view, designating a neighborhood as historic is a project by and for affluent residents concerned with aesthetics, not affordability. It leads to gentrification and rising property values for wealthy homeowners, while displacement afflicts longer-term, lower-income residents of the neighborhood, often people of color. Through rich case studies of Baltimore and Brooklyn, Aaron Passell complicates this story, exploring how community activists and local governments use historic preservation to accelerate or slow down neighborhood change. He argues that this form of regulation is one of the few remaining urban policy interventions that enable communities to exercise some control over the changing built environments of their neighborhoods. In Baltimore, it is part of a primarily top-down strategy for channeling investment into historic neighborhoods, many of them plagued by vacancy and abandonment. In central Brooklyn, neighborhood groups have discovered the utility of landmark district designation as they seek to mitigate rapid change with whatever legal tools they can. The contrast between Baltimore and Brooklyn reveals that the relationship between historic preservation and neighborhood change varies not only from city to city, but even from neighborhood to neighborhood. In speaking with local activists, Passell finds that historic district designation and enforcement efforts can be a part of neighborhood community building and bottom-up revitalization. Featuring compelling narrative interviews alongside quantitative data, Preserving Neighborhoods is a nuanced mixed-methods study of an important local-level urban policy and its surprisingly varied consequences.
Real estate is the biggest real asset class in an economy, and Germany is the biggest economy in Europe. This implies opportunities as well as specific risks for investors and policy makers. As the German real estate markets have by and large been spared severe disruptions in the course of the economic crisis, many questions arise for investors and academics alike. What are the key institutional characteristics of the German real estate markets that make it different? What are the short and long-term drivers of demand and supply? Which regional and functional market segments are most likely to outperform in the next few years? What are the most important pitfalls for investors in Germany? This book gives answers to these and many more questions. The editors have invited a broad range of extensively knowledgeable practitioners and academics from across the relevant real estate spectrum, i.e. economic, legal, tax, planning and financing issues, to express their views. There is no better English publication that gives such a profound and simultaneously entertaining overview of Germany’s real estate markets.
This Second Edition arms real estate professionals with a comprehensive approach to the economic factors that both define and affect modern urban areas. The text considers the economics of cities as a whole, instead of separating them. Emphasis is placed on economic theory and empirical studies that are based in economic theory. The book also explores the policy lessons that can be drawn from the use of economics to understand urban areas. Real estate professionals will find new coverage of urban areas around the world to provide a global perspective.
Mega-events have long been used by cities as a strategy to secure global recognition and attract future economic investment. However, while cultural mega-events like the European Capital of Culture have become increasingly popular, cities have begun questioning the traditional model of other events such as the Olympic Games with many candidate cities cancelling bids in recent years. This approach to planning and developing cities through mega-events introduces a broad range of physical effects and nuanced institutional changes for cities, particularly for the more sensitive heritage areas of cities. This book explores these issues by first examining the dynamics of cities’ attempts to reduce overall costs and increase the sustainability of these large events by further embedding them within the existing fabric of the city and second by studying in depth the impact on the heritage of host cities. This book investigates three World Heritage Cities: Genoa, Liverpool and Istanbul, each of which have hosted the European Capital of Culture and introduced a variety of opportunities and risks for their heritage. The book highlights the potential benefits and challenges of integrating event and heritage planning to provide lessons that can help future historic cities and heritage decision makers better prepare for such events.
Over the last 30 or 40 years a substantial literature has grown up in which the tools of economic theory and analysis have been applied to problems in the arts and culture. Economists who have surveyed the field generally locate the origins of contemporary cultural economics as being in 1966, the year of publication of the first major work in modern times dedicated specifically to the economics of the arts. It was a book by Baumol and Bowen which showed that economic analysis could illuminate the supply of and demand for artistic services, the contribution of the arts sector to the economy, and the role of public policy. Following the appearance of the Baumol and Bowen work, interest in the economics of the arts grew steadily, embracing areas such as demand for the arts, the economic functions of artists, the role of the nonprofit sector, and other areas. Cultural economics also expanded to include the cultural or entertainment industries (the media, movies, the publishing industry, popular music), as well as heritage and museum management, property right questions (in particular copyright) and the role of new communication technologies such as the internet. The field is therefore located at the crossroads of several disciplines: economics and management, but also art history, art philosophy, sociology and law. The Handbook is placed firmly in economics, but it also builds bridges across these various disciplines and will thus be of interest to researchers in all these different fields, as well as to those who are engaged in cultural policy issues and the role of culture in the development of our societies. *Presents an overview of the history of art markets *Addresses the value of art and consumer behavior toward acquiring art *Examines the effect of art on economies of developed and developing countries around the world