Asset Meltdown: Fact or Fiction?

Marcel Marekwica, Raimond Maurer, Steffen P. Sebastian

Research output: Contribution to journalJournal articleResearchpeer-review

Abstract

Executive Summary. This paper analyzes the relation between demographic structure and real asset returns on Treasury bills, bonds, and stocks for the G7 countries (United States, Canada, Japan, Italy, France, the United Kingdom, and Germany). A macroeconomic multifactor model is used to examine a variety of different demographic factors from 1951 to 2002. There was no robust relationship found between shocks in demographic variables and asset returns in the framework of these models, which suggests that asset meltdown is rather fiction than fact.
Original languageEnglish
JournalThe Journal of Real Estate Portfolio Management
Volume17
Issue number1
Pages (from-to)27-38
ISSN1083-5547
Publication statusPublished - 2011

Cite this

Marekwica, Marcel ; Maurer, Raimond ; Sebastian, Steffen P. . / Asset Meltdown : Fact or Fiction?. In: The Journal of Real Estate Portfolio Management. 2011 ; Vol. 17, No. 1. pp. 27-38.
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Marekwica, M, Maurer, R & Sebastian, SP 2011, 'Asset Meltdown: Fact or Fiction?', The Journal of Real Estate Portfolio Management, vol. 17, no. 1, pp. 27-38.

Asset Meltdown : Fact or Fiction? / Marekwica, Marcel; Maurer, Raimond; Sebastian, Steffen P. .

In: The Journal of Real Estate Portfolio Management, Vol. 17, No. 1, 2011, p. 27-38.

Research output: Contribution to journalJournal articleResearchpeer-review

TY - JOUR

T1 - Asset Meltdown

T2 - Fact or Fiction?

AU - Marekwica, Marcel

AU - Maurer, Raimond

AU - Sebastian, Steffen P.

PY - 2011

Y1 - 2011

N2 - Executive Summary. This paper analyzes the relation between demographic structure and real asset returns on Treasury bills, bonds, and stocks for the G7 countries (United States, Canada, Japan, Italy, France, the United Kingdom, and Germany). A macroeconomic multifactor model is used to examine a variety of different demographic factors from 1951 to 2002. There was no robust relationship found between shocks in demographic variables and asset returns in the framework of these models, which suggests that asset meltdown is rather fiction than fact.

AB - Executive Summary. This paper analyzes the relation between demographic structure and real asset returns on Treasury bills, bonds, and stocks for the G7 countries (United States, Canada, Japan, Italy, France, the United Kingdom, and Germany). A macroeconomic multifactor model is used to examine a variety of different demographic factors from 1951 to 2002. There was no robust relationship found between shocks in demographic variables and asset returns in the framework of these models, which suggests that asset meltdown is rather fiction than fact.

KW - TREASURY bills

KW - GROUP of Seven countries

KW - REAL property -- Sales & prices

KW - REGRESSION analysis

KW - MACROECONOMICS

KW - DEMOGRAPHIC change

M3 - Journal article

VL - 17

SP - 27

EP - 38

JO - The Journal of Real Estate Portfolio Management

JF - The Journal of Real Estate Portfolio Management

SN - 1083-5547

IS - 1

ER -