Alternative Investment Posts
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By: Dragana Cvijanovic, Stanmira Milcheva and Alex Van De Minne
Abstract
Large institutional investors own an increasing share of the real estate asset market in the U.S. In this paper we seek to understand what are the implications of this recent development. Employing a generalized Hamiltonian Monte Carlo Bayesian procedure we find novel empirical evidence that market entry by large institutional investors predicts higher uncertainty and greater noise in real
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