The Global Capital Stock. A Proxy for the Unobservable Global Market Portfolio

20 Pages Posted: 13 Jul 2016 Last revised: 12 Oct 2016

See all articles by Gregory Gadzinski

Gregory Gadzinski

International University of Monaco (IUM)

Markus Schuller

Panthera Solutions

Andrea Vacchino

Panthera Solutions

Date Written: October 3, 2016

Abstract

This article summarizes our attempt to measure the current economic stock of a broad universe of risky assets worldwide. Therefore, by measuring the global capital stock of assets, financial and non-financial ones, we intend to provide a proxy for the global market portfolio. We compute the market value of global assets included in 11 asset classes for the period 2005-2015. Despite the lack of data for non-financial assets, we consider our methodologies sound and feel strongly optimistic about future development, which will further reduce the margin of error and then provide a more accurate benchmark for multi-asset portfolios.

Keywords: global capital stock, global market portfolio, alternative assets

Suggested Citation

Gadzinski, Gregory and Schuller, Markus and Vacchino, Andrea, The Global Capital Stock. A Proxy for the Unobservable Global Market Portfolio (October 3, 2016). Available at SSRN: https://ssrn.com/abstract=2808438 or http://dx.doi.org/10.2139/ssrn.2808438

Gregory Gadzinski (Contact Author)

International University of Monaco (IUM) ( email )

2 Av Prince Hereditaire Albert
Stade Louis II/B
Monaco, Monaco MC-98000
United States

Markus Schuller

Panthera Solutions ( email )

49, Av Hector Otto
Monaco, 98000
Monaco

Andrea Vacchino

Panthera Solutions ( email )

49, Av Hector Otto
Monaco, 98000
Monaco

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