U.S. International Equity Investment and Past and Prospective Returns
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Counter to extant stylized facts, using newly available data on country allocations in U.S. investors' foreign equity portfolios we find that (i) U.S. investors do not exhibit returns-chasing behavior, but, consistent with partial portfolio rebalancing, tend to sell past winners; and (ii) U.S.
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美国国家经济研究局创建时间：
2011-01-01
