Goetzmann, William N. <br/><br/>
Real and Private-Value Assets / 
William N. Goetzmann, Christophe Spaenjers, Stijn Van Nieuwerburgh. 
 - Cambridge, Mass.  National Bureau of Economic Research  2021. 
 - 1 online resource:  illustrations (black and white); 
 - NBER working paper series  no. w28580 .
 - Working Paper Series (National Bureau of Economic Research)  no. w28580. .
<br/><br/> March 2021. 
<br/><br/> Real and private-value assets--defined here as the sum of real estate, infrastructure, collectibles, and non-corporate business equity--is an investment class worth an estimated $85 trillion in the U.S. alone. Furthermore, private values can affect pricing in many other financial markets, such as that for sustainable investments. This paper introduces the research on real assets and private values that can be found in this special issue. It also reviews recent advances--and suggests new research directions--on a number of topics in the real assets space that we believe to be particularly important and exciting. 
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