The Unintended Consequences of Rebalancing
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https://www.nber.org/papers/w33554
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Institutional investors engage in trillions of dollars of regular portfolio rebalancing, often based on calendar schedules or deviations from allocation targets. We document that such rebalancing has a market-wide impact and generates predictable price patterns. When stocks are overweight, funds
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美国国家经济研究局创建时间：
2025-03-01
