Real and Private Value Assets
40 Pages Posted: 14 May 2021
There are 3 versions of this paper
Real and Private-Value Assets
Real and Private-Value Assets
Date Written: April 1, 2021
Abstract
Real and private-value assets—defined here as the sum of real estate, infrastructure, collectibles, and noncorporate business equity—compose an investment class worth an estimated $84 trillion in the U.S. alone. Furthermore, private values can affect pricing in many other financial markets, such as that for sustainable investments. This paper introduces the research on real assets and private values that can be found in this special issue. It also reviews recent advances and highlights new research directions on a number of topics in the real assets space that we believe to be particularly important and exciting.
JEL Classification: G11, G12, G41, R31, R33, Z11
Suggested Citation: Suggested Citation
William N. Goetzmann (Contact Author)
Yale School of Management - International Center for Finance ( email )
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Stijn Van Nieuwerburgh
Columbia University Graduate School of Business ( email )
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United States
HOME PAGE: http://https://www0.gsb.columbia.edu/faculty/svannieuwerburgh/