Production and trade of port wine: temporal dynamics and pricing

Data
2015
Autores
Correia, Leonida Amaral Tomas
Rebelo, João Fernandes
Caldas, José Manuel Melo Vaz
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Resumo
This paper examines the productive and trade dynamics of Port wine and the impact of wine aging on price. The main results show that, after World War II, the economy founded on Port wine is characterised by a general tendency for growth, leading to positive economic impacts on both grape growers and Port traders. Nonetheless, data from the last decade points to a relatively long negative phase of the business cycle. The annualized return rate of 5% on storage that was obtained for old Port wine, indicate that this is an asset attractive enough to be included in any investment portfolio.
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hedonic price , time series , wine economics , return , storage , Port wine
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