This suggests that existing assets are changing hands at a quickening pace and a rising price.How big a worry is that?
But there is another, more questionable, approach, which allows banks to hang onto their assets while changing the way they calculate their risks.
Then Glenn Hubbard, chairman of the White House Council of Economic Advisers, said in an interview with Japanese reporters, "There's no way Japan can export itself out of its problem without fixing the nonperforming assets and changing the monetary policy".
"We're taking an institutional asset and changing who gets to invest in it".
He is watching closely a different sort of opportunity in the American market: he expects that the upheaval caused by deregulation will result in over half the generating assets in America changing hands by 2010.Shell is taking the idea furthest.
It is not uncommon for the government to inject assets into companies, changing their effective value overnight, says Peter L. Alexander, principal of Z-Ben Advisors in Shanghai.
A floating charge is a security interest over a fund of a firm's changing assets that "floats" until it "crystallises" (converts) into a fixed charge,22 at which point the charge attaches to specific assets.
He later expanded into asset management, eventually changing the name to GSV.
Even without a collapse, changing asset prices can influence consumer demand, and so economic stability, through the "wealth effect": rising share prices might make people feel richer and induce them to spend more.
What Tobin suggested was that we think of financial market in terms of a sort of ultra-short-term equilibrium, before changing asset prices have time to have any effect on the real economy.
