Narrow search
Showing 1 - 3 of 3
Cover Image
Confidence Risk and Asset Prices
Bansal, Ravi - 2009
In the data, asset prices exhibit large negative moves at frequencies of about 18 months. These large moves are puzzling as they do not coincide, nor are they followed by any significant moves in the real side of the economy. On the other hand, we find that measures of investor's uncertainty...
Persistent link: https://www.econbiz.de/10012463832
Cover Image
Finance and the Preservation of Wealth
Gennaioli, Nicola - 2013
We introduce the model of asset management developed in Gennaioli, Shleifer, and Vishny (2012) into a Solow-style neoclassical growth model with diminishing returns to capital. Savers rely on trusted intermediaries to manage their wealth (claims on capital stock), who can charge fees above costs...
Persistent link: https://www.econbiz.de/10012459544
Cover Image
Money Doctors
Gennaioli, Nicola - 2012
investment, and allows managers to charge higher fees to investors who trust them more. Money managers compete for investor funds … by setting their fees, but because of trust the fees do not fall to costs. In the model, 1) managers consistently … involve sharing of expected returns between managers and investors, with higher fees in riskier products, 3) managers pander …
Persistent link: https://www.econbiz.de/10012460486