FRB,IFDP Paper: New Evidence on the US Excess Return on Foreign Portfolios
New Evidence on the US Excess Return on Foreign Portfolios FRB New York Staff Report No. 998 Abstract This paper provides new evidence on the long-standing puzzle of the excess return of foreign investors in U.S. stocks relative to the return of U.S. investors. We employ a novel dataset of ownership data at the firm … Read more