International Portfolios with Supply, Demand and Redistributive Shocks
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This paper explains three key stylized facts observed in industrialized countries: 1) portfolio holdings are biased towards local equity; 2) international portfolios are long in foreign currency assets and short in domestic currency; 3) the depreciation of a country's exchange rate is associated
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美国国家经济研究局创建时间:
2007-09-01



