Exorbitant Changes in Three Parts
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下载链接：
https://www.nber.org/papers/w34372
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资源简介：
We document that the positive differential on international portfolio returns, one aspect of the U.S. exorbitant privilege, has disappeared in three parts. Part One: U.S. international liabilities used to be mostly in low-return bonds while its international assets were largely in high-returning
提供机构：
美国国家经济研究局
创建时间：
2025-10-01
