Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/23434
Authors: 
Sebastian, Steffen
Tyrell, Marcel
Year of Publication: 
2006
Series/Report no.: 
Working paper series / Johann-Wolfgang-Goethe-Universität Frankfurt am Main, Fachbereich Wirtschaftswissenschaften: Finance & Accounting 168
Abstract: 
Both banks and open end real estate funds effectuate liquidity transformation in large amounts and high scales. Because of this similarity the latter should be analyzed using the same methodologies as usually applied for banks. We show that the work in the tradition of Diamond and Dybvig (1983), especially Allen and Gale (1998) and Diamond and Rajan (2001), provides an applicable theoretical framework. We used this as the basis for our model for open end real estate funds. We then examined the usefulness of the modeling structure in analyzing open end real estate funds.
Document Type: 
Working Paper

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