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Music in the Air
Report

Music in the Air

Estimating the Social Return to Cultural Amenities

Oliver Falck, Michael Fritsch, Stephan Heblich and Anne Otto
CESifo Group Munich, 2015
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Editorial Rating

7

Qualities

  • Analytical
  • Scientific
  • Eye Opening

Recommendation

In the past, infrastructure, capital and natural resources largely determined a locale’s economic potential. Today, with the waning importance of manufacturing and the ascendance of knowledge-based industries, cultural amenities are taking on a much greater role in attracting talent and building local economies. This data-driven paper from economists Oliver Falck, Michael Fritsch, Stephan Heblich and Anne Otto seeks to quantify the financial impact that a rich cultural scene has on a community and to determine the economic benefits of public investment in the arts. getAbstract recommends the rigorous analytics underlying this report’s thesis and methodology to economists and urban planners and believes that cultural mavens will find that its conclusions are music to their ears.

Take-Aways

  • Cultural amenities have a positive impact on local economies because they draw smart, highly skilled workers.
  • The 17th- and 18th-century baroque opera houses that dot present-day western Germany provide a laboratory for quantifying the appeal of artistic institutions.
  • Cities with a baroque opera house have a higher share of highly skilled employees.

About the Authors

Oliver Falck is an economist at the Ifo Institute in Munich. Michael Fritsch is a professor at the University of Jena in Germany. Stephan Heblich is an associate professor at the University of Bristol in the UK. Anne Otto is a researcher at the IAB Rheinlander-Pfalz-Saarland in Germany.

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