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This paper investigates the inflation hedging capability of listed real estate (LRE) companies from 1990 to 2021 in …-crisis periods, LRE provides good protection against inflation. In the long term, LRE offers a good hedge against expected inflation … and shows a superior inflation hedging ability than stocks. Additionally, we identify inflation-hedging portfolios by …
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We provide explicit solutions to life-cycle utility maximization problems simultaneously involving dynamic decisions on investments in stocks and bonds, consumption of perishable goods, and the rental and the ownership of residential real estate. House prices, stock prices, interest rates, and...
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This paper analyzes diversification benefits from international securitized real estate in a mixed-asset context. We apply regression-based mean-variance efficiency tests, conditional on currency-unhedged and fully hedged portfolios to account for foreign exchange risk exposure. From the...
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