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bonds. We document a 'history effect' in which the pattern of holdings seven decades ago continues to influence holdings … other than the dollar. Our findings point to history and path dependence as key sources of financial market segmentation …
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document a "history effect" in which the pattern of holdings seven decades ago continues to influence holdings today. 10 to 15 … investment in such currencies. Our findings point to history and path dependence as key sources of financial market segmentation …
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