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Asset Managers : Institutional Performance and Smart Betas
Gerakos, Joseph - 2016
Using a dataset of $17 trillion of assets under management, we document that actively-managed institutional accounts outperformed strategy benchmarks by 86 (42) basis points gross (net) during 2000–2012. In return, asset managers collected $162 billion in fees per year for managing 29% of...
Persistent link: https://www.econbiz.de/10012976988
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Liquidity and Foreign Asset Management Challenges for Latin American Countries
Aizenman, Joshua - 2014
We analyze the degree to which the growing importance of sovereign wealth funds [SWFs] and the diffusion of inflation targeting and augmented Taylor rules have impacted the post crisis adjustment of Latin American Countries (LATAM) to the challenges associated with terms of trade and financial...
Persistent link: https://www.econbiz.de/10013044618
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Is There Too Much Benchmarking in Asset Management?
Kashyap, Anil K.; Kovrijnykh, Natalia; Li, Jian; … - 2022
’ compensation on a benchmark portfolio’s performance partially protects them from risk, and thus boosts their incentives to invest …
Persistent link: https://www.econbiz.de/10013291778
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Elderly Asset Management and Health : An Empirical Analysis
Feinstein, Jonathan S.; Ho, Chih-Chin - 2022
We present models of asset management by the elderly. We focus on saving, spend-down of assets, and gift-giving, and the influence of health on these precesses. We also study the evolution of elderly health and the impact of economic variables on health outcomes. We present results from...
Persistent link: https://www.econbiz.de/10013322106
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Does Aggregated Returns Disclosure Increase Portfolio Risk-Taking?
Beshears, John - 2011
than one-year) historical asset class return distributions. In contrast, we find that such information aggregation … strategy, we show that previously documented aggregation effects are not robust to (i) changes in the distribution of the risky …
Persistent link: https://www.econbiz.de/10013128604
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Labor-Market Heterogeneity, Aggregation, and the Lucas Critique
Chang, Yongsung - 2010
asset markets and indivisible labor supply. Imperfect aggregation manifests itself through preference shocks in the …
Persistent link: https://www.econbiz.de/10013137761
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The Human Capital Stock : a Generalized Approach
Jones, Benjamin F. - 2011
This paper presents a new framework for human capital measurement. The generalized framework can (i) substantially amplify the role of human capital in accounting for cross-country income differences and (ii) reconcile the existing conflict between regression and accounting evidence in assessing...
Persistent link: https://www.econbiz.de/10013119778
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Currency Unions, Product Introductions, and the Real Exchange Rate
Cavallo, Alberto - 2012
We use a novel dataset of online prices of identical goods sold by four large global retailers in dozens of countries to study good-level real exchange rates and their aggregated behavior. First, in contrast to the prior literature, we demonstrate that the law of one price holds very well within...
Persistent link: https://www.econbiz.de/10013097660
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Network Structure and the Aggregation of Information : Theory and Evidence from Indonesia
Alatas, Vivi - 2012
how network structure influences information aggregation. We develop a model of semi-Bayesian learning on networks, which …
Persistent link: https://www.econbiz.de/10013101274
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Risks for the Long Run : Estimation with Time Aggregation
Bansal, Ravi - 2012
us to estimate models with recursive preferences, latent state variables, and time-aggregated data. Time-aggregation … makes the decision interval of the agent an important parameter to estimate. We find that time-aggregation can significantly … affect parameter estimates and statistical inference. Imposing the pricing restrictions and explicitly accounting for time-aggregation …
Persistent link: https://www.econbiz.de/10013101822