Huang, Jing-zhi; Zhong, Zhaodong - In: The Journal of Real Estate Finance and Economics 46 (2013) 1, pp. 152-192
Diversification benefits of three “hot” asset classes—Commodity, Real Estate Investment Trusts (REITs), and Treasury Inflation-Protected Securities (TIPS)—are well-studied on an individual basis and in a static setting. Using data from 1970 to 2010, this paper documents both that the...