How Long to Read Liquidity Creation and Financial Fragility

How Long Does it Take to Read Liquidity Creation and Financial Fragility?

It takes the average reader 2 hours and 5 minutes to read Liquidity Creation and Financial Fragility by Christian Weistroffer

Assuming a reading speed of 250 words per minute. Learn more

Description

Open-end real estate funds (OEREFs) are the predominant vehicle in Germany for channeling private capital flows into commercial real estate markets. They transform longer-term investment projects into daily redeemable claims. To the extent that OEREFs stand ready to both issue new shares and redeem outstanding ones on a daily basis they provide valuable liquidity transformation. At the same time, they become susceptible to run phenomena. This dissertation analyzes the inherent fragility of open-end real estate funds in light of the German open-end fund crisis of 2005/06. The dissertation comprises three papers. The first paper explores how fund performance and other factors influenced capital flows into OEREFs before, during and after the German open-end fund crisis of 2005/06. The second paper looks at the valuation practice of OEREFs and assesses whether funds have suffered from a valuation problem. It finds evidence in support of the view that systematic deviations of appraised values from prices achieved in the market were at the heart of the 2005/06 German open-end fund crisis. The third paper relates findings from banking theory to OEREFs. It explores under which conditions the open-end fund contract resembles a demand deposit contract that is prone not only to panics but also to fundamental runs. The dissertation concludes by discussing policy options to mitigate the run problem.

How long is Liquidity Creation and Financial Fragility?

Liquidity Creation and Financial Fragility by Christian Weistroffer is 124 pages long, and a total of 31,496 words.

This makes it 42% the length of the average book. It also has 38% more words than the average book.

How Long Does it Take to Read Liquidity Creation and Financial Fragility Aloud?

The average oral reading speed is 183 words per minute. This means it takes 2 hours and 52 minutes to read Liquidity Creation and Financial Fragility aloud.

What Reading Level is Liquidity Creation and Financial Fragility?

Liquidity Creation and Financial Fragility is suitable for students ages 10 and up.

Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.

When deciding what to show young students always use your best judgement and consult a professional.

Where Can I Buy Liquidity Creation and Financial Fragility?

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