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Introduction

In: Sustainable Asset Accumulation and Dynamic Portfolio Decisions

Author

Listed:
  • Carl Chiarella

    (University of Technology)

  • Willi Semmler

    (New School for Social Research
    Bielefeld University)

  • Chih-Ying Hsiao

    (University of Technology)

  • Lebogang Mateane

    (New School for Social Research)

Abstract

The world-wide meltdown of asset markets in the years 2007–2009 posed great challenges for asset and portfolio managers. Many funds such as university endowments, sovereign wealth funds and pension funds were overexposed to risky returns and suffered considerable losses. On the other hand, the long run upswing in the stock market since 2010, induced by a monetary policy of quantitative easing in the US, led to asset price booms and new wealth formation. In both cases quite significant differences in wealth accumulation were visible. It is now well recognized that disparity in wealth accumulation has become more distinct then the disparity in income. This seems to have emerged in the last few decades or so for the US, as well as for other countries.

Suggested Citation

  • Carl Chiarella & Willi Semmler & Chih-Ying Hsiao & Lebogang Mateane, 2016. "Introduction," Dynamic Modeling and Econometrics in Economics and Finance, in: Sustainable Asset Accumulation and Dynamic Portfolio Decisions, chapter 0, pages 1-8, Springer.
    • Handle: RePEc:spr:dymchp:978-3-662-49229-1_1
    DOI: 10.1007/978-3-662-49229-1_1
    as

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