Is the International Diversification Potential Diminishing? Foreign Equity Inside and Outside the US
NBER Working Paper No. 12697
---- Acknowledgements ----
Wharton School, University of Pennsylvania and NBER. For comments and suggestions, I thank Geert Bekaert, Bernard Dumas, Vihang Errunza, Andrew Karolyi, Magnus Dahlquist, Gangadhar Darbha, Craig MacKinlay, Paolo Soderlind, Jessica Wachter, Frank Warnock, Amir Yaron, and seminar participants at the Wharton Micro-Lunch seminar, the Swedish Institute for Financial Research, and the Kansas City Federal Reserve. I acknowledge funding from the National Science Foundation with thanks. Any errors are my responsibility. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.