Real and Private Value Assets

Stijn Van Nieuwerburgh, William Goetzmann and Christophe Spaenjers

No 16083, CEPR Discussion Papers from Centre for Economic Policy Research

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.

Keywords: Real estate; Art; Infrastructure; Private business wealth (search for similar items in EconPapers)
JEL-codes: G11 G12 G41 R31 R33 Z11 (search for similar items in EconPapers)
Date: 2021-04
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Related works:
Journal Article: Real and Private-Value Assets (2021)
Working Paper: Real and Private-Value Assets (2021)
Working Paper: Real and Private-Value Assets (2021)
Working Paper: Real and Private-Value Assets (2021)
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