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Asset Meltdown - Fact Or Fiction?

Author

Listed:
  • Raimond Maurer
  • Marcel Marekwica
  • Steffen Sebastian

Abstract

This paper analyzes the relation between demographic structure and real asset returns on treasury bills, bonds, stocks and real estate for the G7-countries (United States, Canada, Japan, Italy, France, the United Kingdom and Germany). Based on a macroeconomic multifactor model, a variety of different demographic factors is examined in the time period 1951 to 2002. In these models, no robust relationship between shocks in demographic variables and asset returns can be found, which suggests, that Asset Meltdown is more fiction than fact. Full paper available at www.real-estate-finance.de.

Suggested Citation

  • Raimond Maurer & Marcel Marekwica & Steffen Sebastian, 2006. "Asset Meltdown - Fact Or Fiction?," ERES eres2006_269, European Real Estate Society (ERES).
    • Handle: RePEc:arz:wpaper:eres2006_269
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    File URL: https://eres.architexturez.net/doc/oai-eres-id-eres2006-269
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    Cited by:

    1. Yasmine Essafi & Raphaël Languillon & Arnaud Simon, 2017. "The Relation between Aging and Housing Prices A Key Indicator for the French Spatial Wealth Reshaping [La relation Vieillissement-Prix immobiliers : un indicateur clé pour la réorganisation spatial," Working Papers halshs-01654445, HAL.
    2. Spahn Heinz-Peter, 2007. "Vermögenspreise, Alterung und Ersparnis / Asset Prices, Aging and Saving: Gibt es einen demografisch bedingten „Asset Meltdown“? / Should We Expect an Asset Meltdown for Demographic Reasons?," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 227(1), pages 102-106, February.

    More about this item

    JEL classification:

    • R3 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location

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