# Prof. William Baumol's and Prof. Emeritus Michael Moses's research on art investing is mentioned

1 Faculty News December 15, 2013 ![Wall Street Journal logo](/sites/default/files/styles/246w/public/assets/images/wsjlogo.jpg?itok=5Qt0z3WX)>

Excerpt from [The Wall Street Journal](http://on.wsj.com/18tRy3j) -- "A number of economists have estimated the returns to art over a very long period. Overall, these estimates range from about 1% to about 5% real returns. For example, one of the earlier studies, by [William Baumol](http://www.stern.nyu.edu/faculty/bio/william-baumol), estimated the real returns from 1652 to 1961 to be 0.6%. William Goetzmann estimated the real returns from 1716 to 1986 to be about 2% in real terms, and Jianping Mei and Mike Moses estimated real returns from 1875 to 2000 to be 4.9%."

[Read more](http://on.wsj.com/18tRy3j)