Schlumpf, Felix; Tessera, Genene; Martínez, Catalina - In: Journal of Financial Perspectives 1 (2013) 3, pp. 111-120
Even if the market capitalization of direct real estate is comparable to that of equities and fixed income, the data on direct real estate is very poor. It is, therefore, difficult to estimate the market risk of this important asset class. Moreover, risk systems from most vendors cover equities...