Recursive Measures of Total Wealth and Portfolio Return

Michel Normandin () and Pascal St-Amour ()

No 03-06, Cahiers de recherche from HEC Montréal, Institut d'économie appliquée

Abstract: This letter presents and assesses a procedure to generate recursive measures of aggregate total wealth and portfolio return. Conceptually, the procedure is more flexible than the classical replacement cost and present value methods. Empirically, the procedure yields recursive measures that appear more realistic than those obtained from the classical methods.

Keywords: financial, human, and tangible assets; present Value and replacement cost methods (search for similar items in EconPapers)
JEL-codes: C82 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-fin
Date: 2003-10
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Related works:
Working Paper: Recursive Measures of Total Wealth and Portfolio Return (2003)
Journal Article: Recursive measures of total wealth and portfolio return (2005)
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Persistent link: http://EconPapers.repec.org/RePEc:iea:carech:0306

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