Do real estate assets hedge inflation better than financial assets? Some New Zealand evidence

2005 ◽  
Vol 5 (1-2) ◽  
pp. 39-46 ◽  
Author(s):  
Ting Ting Zhou ◽  
Abeyratna Gunasekarage ◽  
David M. Power
Keyword(s):  
New Zealand ◽  
Real Estate ◽  
Financial Assets ◽  
Real Estate Assets ◽  
Better Than

scholarly journals Wealth Composition and Drawdown Patterns of Retirees a Comparative Study

2016 ◽  
Vol 1 (No. 1 Oct 2016) ◽  
pp. 41-56
Author(s):  
Young Man Lee ◽  
Jun Hyung Kim ◽  
Hyun-Ah Kim ◽  
Man Cho
Keyword(s):  
Real Estate ◽  
Financial Assets ◽  
Market Penetration ◽  
Private Pensions ◽  
Public And Private ◽  
Subscription Rate ◽  
Average Share ◽  
The Government ◽  
Real Estate Assets ◽  
The U.S

This study aims to pursue a two-fold research objective: first, to examine the wealth composition and its drawdown patterns of the retirement-age households in Korea and, second, to assess policy options to safely monetize real estate assets held by them, the reverse annuity mortgage (RAM) in particular. In so doing, we compare our findings to those from the U.S. as reported by Poterba, Venti, and Weiss (2011). The results indicate that, between the U.S. and Korea, the wealth compositions of the retirees are vastly different in several respects: first, the average share of real estate in Korea is far greater than that in the U.S., over 80 percent vs. 24.7; second, the share of the annuitized public and private pensions is far higher in the U.S. compared to Korea, 44.9 percent vs. 7.7 percent in Korea; third, the share of financial assets is roughly similar, that is, 12.6% in the U.S. and 10.3% in Korea; last but not least, the share of non-residence real estate rapidly rose rapidly between 2006 and 2012 in Korea, quite dramatically for certain consumer cohorts. Hence, the Korea case represents an extreme of ‘real estate-rich-cash-poor’ retirees, making it a fertile ground for trading the monetizing instruments such as RAM. Nonetheless, the market penetration by the product is still minimal, the subscription rate of 0.81 percent among all the eligible households as of 2015. To investigate empirically the reasons behind such low subscription rate, we perform a regression analysis on determinants of the propensity for entering the RAM contract; The results show that the bequest motive does reduce the propensity to subscribe the product, and that the two indicators of the consumer knowledge on the product do yield positive and statically significant results. Based on the findings, we stress the need for a heightened level of consumer education on the viewpoint of the protection financial consumers, for which the government, the lending and guaranteeing institutions, as well as academia should put a concerted effort so as to help elderlies make rational decisions.

scholarly journals Wages and inequality

2015 ◽  
Vol 11 (1) ◽  
Author(s):  
Bill Rosenberg
Keyword(s):  
New Zealand ◽  
Income Inequality ◽  
Real Estate ◽  
Social Welfare ◽  
Tax Credits ◽  
Financial Assets ◽  
Welfare Benefits ◽  
Real Estate Investments ◽  
Unearned Income ◽  
Very High

Wages and salaries are a vital part of the picture of income inequality in New Zealand because so many people depend on them as their principal or only source of income, although it is important to remember that the greatest extremes of inequality most frequently come from investment income (for very high incomes) and from social welfare benefits (for poverty). Wages and salaries are market incomes – that is, before taxes, tax credits like Working for Families, and other government assistance. ‘Market’ incomes include income from capital (real estate, investments, financial assets and other unearned income) as well as wages, but here we are looking only at wages and salaries (henceforth ‘wages’). 

Are More Profiles Better Than Fewer?: Searching for Parsimony and Relevance in Stated Choice Experiments

2000 ◽  
Vol 1719 (1) ◽  
pp. 165-174 ◽  
Author(s):  
Peter R. Stopher ◽  
David A. Hensher
Keyword(s):  
New Zealand ◽  
Degrees Of Freedom ◽  
Choice Model ◽  
Fractional Factorial ◽  
Sources Of Information ◽  
Stated Choice ◽  
Complex Design ◽  
Data Collection Instrument ◽  
Main Effects ◽  
Better Than

Transportation planners increasingly include a stated choice (SC) experiment as part of the armory of empirical sources of information on how individuals respond to current and potential travel contexts. The accumulated experience with SC data has been heavily conditioned on analyst prejudices about the acceptable complexity of the data collection instrument, especially the number of profiles (or treatments) given to each sampled individual (and the number of attributes and alternatives to be processed). It is not uncommon for transport demand modelers to impose stringent limitations on the complexity of an SC experiment. A review of the marketing and transport literature suggests that little is known about the basis for rejecting complex designs or accepting simple designs. Although more complex designs provide the analyst with increasing degrees of freedom in the estimation of models, facilitating nonlinearity in main effects and independent two-way interactions, it is not clear what the overall behavioral gains are in increasing the number of treatments. A complex design is developed as the basis for a stated choice study, producing a fractional factorial of 32 rows. The fraction is then truncated by administering 4, 8, 16, 24, and 32 profiles to a sample of 166 individuals (producing 1, 016 treatments) in Australia and New Zealand faced with the decision to fly (or not to fly) between Australia and New Zealand by either Qantas or Ansett under alternative fare regimes. Statistical comparisons of elasticities (an appropriate behavioral basis for comparisons) suggest that the empirical gains within the context of a linear specification of the utility expression associated with each alternative in a discrete choice model may be quite marginal.

A Note on Optimal Portfolio Selection and Diversification Benefits with a Short Sale Restriction on Real Estate Assets

1992 ◽  
Vol 7 (4) ◽  
pp. 493-501 ◽  
Author(s):  
Tsong-Yue Lai ◽  
Ko Wang ◽  
Su Chan ◽  
Daniel Lee
Keyword(s):  
Real Estate ◽  
Portfolio Selection ◽  
Optimal Portfolio ◽  
Short Sale ◽  
Optimal Portfolio Selection ◽  
Real Estate Assets

scholarly journals Locking down the Impact of New Zealand’s COVID-19 Alert Level Changes on Pets

Animals ◽  
2021 ◽  
Vol 11 (3) ◽  
pp. 758
Author(s):  
Fiona Esam ◽  
Rachel Forrest ◽  
Natalie Waran
Keyword(s):  
New Zealand ◽  
Separation Anxiety ◽  
National Surveys ◽  
Normal Life ◽  
Pet Owners ◽  
Level 1 ◽  
The Impact ◽  
Better Than

The influence of the COVID-19 pandemic on human-pet interactions within New Zealand, particularly during lockdown, was investigated via two national surveys. In Survey 1, pet owners (n = 686) responded during the final week of the five-week Alert Level 4 lockdown (highest level of restrictions—April 2020), and survey 2 involved 498 respondents during July 2020 whilst at Alert Level 1 (lowest level of restrictions). During the lockdown, 54.7% of owners felt that their pets’ wellbeing was better than usual, while only 7.4% felt that it was worse. Most respondents (84.0%) could list at least one benefit of lockdown for their pets, and they noted pets were engaged with more play (61.7%) and exercise (49.7%) than pre-lockdown. Many respondents (40.3%) expressed that they were concerned about their pet’s wellbeing after lockdown, with pets missing company/attention and separation anxiety being major themes. In Survey 2, 27.9% of respondents reported that they continued to engage in increased rates of play with their pets after lockdown, however, the higher levels of pet exercise were not maintained. Just over one-third (35.9%) of owners took steps to prepare their pets to transition out of lockdown. The results indicate that pets may have enjoyed improved welfare during lockdown due to the possibility of increased human-pet interaction. The steps taken by owners to prepare animals for a return to normal life may enhance pet wellbeing long-term if maintained.

An Analysis of the Acquisition and Disposition of Real Estate Assets

1989 ◽  
Vol 4 (3) ◽  
pp. 131-140 ◽  
Author(s):  
John Glascock ◽  
Wallace Davidson ◽  
C Sirmans
Keyword(s):  
Real Estate ◽  
Real Estate Assets

A New Method to Estimate Risk and Return of Commercial Real Estate Assets from Cash Flows

2019 ◽  
Vol 41 (2) ◽  
pp. 183-218
Author(s):  
Jin Man Lee ◽  
James D. Shilling ◽  
Charles Wurtzebach
Keyword(s):  
Real Estate ◽  
Cash Flows ◽  
Commercial Real Estate ◽  
New Method ◽  
Risk And Return ◽  
Real Estate Assets
Sign in / Sign up

Export Citation Format

Share Document