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  • M. Hashem Pesaran, Til Schuermann, and Bjorn-Jakob Treutler, The Risks of Financial Institutions (University of Chicago Press, 2007), chap. 9, https://www.nber.org/books-and-chapters/risks-financial-institutions/global-business-cycles-and-credit-risk.

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- Working Paper
The potential for portfolio diversification is driven broadly by two characteristics: the degree to which systematic...

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