Economist, January 04, 2018. “DATA-GATHERING is the least sexy part of economics, which is saying something. Yet it is also among the most important. The discipline is rife with elaborate theories built on assumptions that turned out to be false once someone took the time to pull together the relevant...
Bloomberg, January 02, 2018, by Noah Smith. “When most people think of wealth in the modern economy, they tend to think of stocks and bonds. The word “capital” is often synonymous with corporate ownership. Land wealth, meanwhile, is often relegated to a footnote. Yes, people own houses, but vast fortunes...
Financial Times, December 21, 2017, by Gillian Tett. “The authors of “The Rate of Return on Everything, 1870-2015” — Oscar Jorda, Katharina Knoll, Dmitry Kuvshinov, Moritz Schularick and Alan Taylor — have not done this for narrow investment purposes. Instead, they hope to contribute to the academic debates which are...
European Research Council, 28th of November “Is your home a safe investment? Popular wisdom has it that, when deciding where to put your money, nothing is as safe as investing in brick and mortar. Buying a house, in the last century, has become an almost compulsory step towards “financial adulthood”,...
Frankfurter Allgemeine Zeitung, August 19, 2017, by Gerald Braunberger. “Es ist eine spektakuläre Datenanalyse über die Renditen der wichtigsten Kapitalanlagen seit dem 19. Jahrhundert: Ein Bonner Ökonom rüttelt die Finanzszene auf, indem er zeigt, dass vermeintlich sichere Anlagen durchaus nicht sicher sind.” “Die Ergebnisse sind spektakulär und verdeutlichen ein weiteres...
Financial Times, August 15, 2017, by Matthew C Klein. “Residential real estate, not equity, has been the best long-run investment over the course of modern history.” “Using a new set of data they constructed by hand from news articles, advertisements, statistical abstracts, and more, they estimated the investment performance of...
Frankfurter Allgemeine Zeitung, Juni 6, 2017, by Dennis Kremer. “Vor zehn Jahren begann die größte Immobilienkrise der Geschichte. Zuerst erschütterte sie Amerika, dann die ganze Welt. Wieso hat das niemand kommen sehen?” Es gehört zu den Merkwürdigkeiten der schwersten Finanzkrise der Menschheitsgeschichte, dass sich ihr Anfang nicht exakt bestimmen lässt....
