id	sid	tid	token	lemma	pos
fsr-3892	1	1	pii	pii	PROPN
fsr-3892	1	2	:	:	PUNCT
fsr-3892	1	3	s1057	s1057	NOUN
fsr-3892	1	4	-	-	PUNCT
fsr-3892	1	5	0810(99)00043	0810(99)00043	NUM
fsr-3892	1	6	-	-	ADJ
fsr-3892	1	7	8	8	NUM
fsr-3892	1	8	international	international	ADJ
fsr-3892	1	9	mutual	mutual	ADJ
fsr-3892	1	10	fund	fund	NOUN
fsr-3892	1	11	returns	return	NOUN
fsr-3892	1	12	and	and	CCONJ
fsr-3892	1	13	federal	federal	PROPN
fsr-3892	1	14	reserve	reserve	PROPN
fsr-3892	1	15	policy	policy	PROPN
fsr-3892	1	16	robert	robert	PROPN
fsr-3892	1	17	r.	r.	PROPN
fsr-3892	1	18	johnsona	johnsona	PROPN
fsr-3892	1	19	,	,	PUNCT
fsr-3892	1	20	*	*	PROPN
fsr-3892	1	21	,	,	PUNCT
fsr-3892	1	22	gerald	gerald	PROPN
fsr-3892	1	23	w.	w.	PROPN
fsr-3892	1	24	buetowb	buetowb	PROPN
fsr-3892	1	25	,	,	PUNCT
fsr-3892	1	26	gerald	gerald	PROPN
fsr-3892	1	27	r.	r.	PROPN
fsr-3892	1	28	jensenc	jensenc	PROPN
fsr-3892	1	29	aassociation	aassociation	PROPN
fsr-3892	1	30	for	for	ADP
fsr-3892	1	31	investment	investment	NOUN
fsr-3892	1	32	management	management	NOUN
fsr-3892	1	33	&	&	CCONJ
fsr-3892	1	34	research	research	PROPN
fsr-3892	1	35	,	,	PUNCT
fsr-3892	1	36	560	560	NUM
fsr-3892	1	37	ray	ray	NOUN
fsr-3892	1	38	c.	c.	PROPN
fsr-3892	1	39	hunt	hunt	PROPN
fsr-3892	1	40	drive	drive	NOUN
fsr-3892	1	41	,	,	PUNCT
fsr-3892	1	42	p.o	p.o	PROPN
fsr-3892	1	43	.	.	PROPN
fsr-3892	1	44	box	box	PROPN
fsr-3892	1	45	3668	3668	NUM
fsr-3892	1	46	,	,	PUNCT
fsr-3892	1	47	charlottesville	charlottesville	PROPN
fsr-3892	1	48	,	,	PUNCT
fsr-3892	1	49	va	va	PROPN
fsr-3892	1	50	22903	22903	NUM
fsr-3892	1	51	-	-	SYM
fsr-3892	1	52	0668	0668	NUM
fsr-3892	1	53	,	,	PUNCT
fsr-3892	1	54	usa	usa	PROPN
fsr-3892	1	55	bbfrc	bbfrc	PROPN
fsr-3892	1	56	services	service	NOUN
fsr-3892	1	57	,	,	PUNCT
fsr-3892	1	58	1705	1705	NUM
fsr-3892	1	59	owensville	owensville	PROPN
fsr-3892	1	60	drive	drive	NOUN
fsr-3892	1	61	,	,	PUNCT
fsr-3892	1	62	charlottesville	charlottesville	PROPN
fsr-3892	1	63	,	,	PUNCT
fsr-3892	1	64	va	va	PROPN
fsr-3892	1	65	22901	22901	NUM
fsr-3892	1	66	,	,	PUNCT
fsr-3892	1	67	usa	usa	PROPN
fsr-3892	1	68	cnorthern	cnorthern	PROPN
fsr-3892	1	69	illinois	illinois	PROPN
fsr-3892	1	70	university	university	PROPN
fsr-3892	1	71	,	,	PUNCT
fsr-3892	1	72	school	school	NOUN
fsr-3892	1	73	of	of	ADP
fsr-3892	1	74	business	business	NOUN
fsr-3892	1	75	,	,	PUNCT
fsr-3892	1	76	dekalb	dekalb	PROPN
fsr-3892	1	77	,	,	PUNCT
fsr-3892	1	78	il	il	PROPN
fsr-3892	1	79	60115	60115	NUM
fsr-3892	1	80	-	-	SYM
fsr-3892	1	81	2854	2854	NUM
fsr-3892	1	82	,	,	PUNCT
fsr-3892	1	83	usa	usa	PROPN
fsr-3892	1	84	received	receive	VERB
fsr-3892	1	85	26	26	NUM
fsr-3892	1	86	april	april	PROPN
fsr-3892	1	87	1999	1999	NUM
fsr-3892	1	88	;	;	PUNCT
fsr-3892	1	89	received	receive	VERB
fsr-3892	1	90	in	in	ADP
fsr-3892	1	91	revised	revise	VERB
fsr-3892	1	92	form	form	NOUN
fsr-3892	1	93	15	15	NUM
fsr-3892	1	94	october	october	NOUN
fsr-3892	1	95	1999	1999	NUM
fsr-3892	1	96	;	;	PUNCT
fsr-3892	1	97	accepted	accept	VERB
fsr-3892	1	98	8	8	NUM
fsr-3892	1	99	november	november	PROPN
fsr-3892	1	100	1999	1999	NUM
fsr-3892	1	101	abstract	abstract	NOUN
fsr-3892	1	102	this	this	DET
fsr-3892	1	103	study	study	NOUN
fsr-3892	1	104	examines	examine	VERB
fsr-3892	1	105	the	the	DET
fsr-3892	1	106	performance	performance	NOUN
fsr-3892	1	107	of	of	ADP
fsr-3892	1	108	international	international	ADJ
fsr-3892	1	109	mutual	mutual	ADJ
fsr-3892	1	110	fund	fund	NOUN
fsr-3892	1	111	indexes	index	NOUN
fsr-3892	1	112	across	across	ADP
fsr-3892	1	113	alternative	alternative	ADJ
fsr-3892	1	114	federal	federal	PROPN
fsr-3892	1	115	reserve	reserve	PROPN
fsr-3892	1	116	monetary	monetary	ADJ
fsr-3892	1	117	policy	policy	NOUN
fsr-3892	1	118	environments	environment	NOUN
fsr-3892	1	119	.	.	PUNCT
fsr-3892	2	1	the	the	DET
fsr-3892	2	2	results	result	NOUN
fsr-3892	2	3	suggest	suggest	VERB
fsr-3892	2	4	that	that	SCONJ
fsr-3892	2	5	the	the	DET
fsr-3892	2	6	benefits	benefit	NOUN
fsr-3892	2	7	touted	tout	VERB
fsr-3892	2	8	by	by	ADP
fsr-3892	2	9	advocates	advocate	NOUN
fsr-3892	2	10	of	of	ADP
fsr-3892	2	11	international	international	ADJ
fsr-3892	2	12	diversification	diversification	NOUN
fsr-3892	2	13	may	may	AUX
fsr-3892	2	14	be	be	AUX
fsr-3892	2	15	less	less	ADJ
fsr-3892	2	16	than	than	SCONJ
fsr-3892	2	17	previous	previous	ADJ
fsr-3892	2	18	studies	study	NOUN
fsr-3892	2	19	indicate	indicate	VERB
fsr-3892	2	20	.	.	PUNCT
fsr-3892	3	1	specifically	specifically	ADV
fsr-3892	3	2	,	,	PUNCT
fsr-3892	3	3	during	during	ADP
fsr-3892	3	4	restrictive	restrictive	ADJ
fsr-3892	3	5	us	us	PROPN
fsr-3892	3	6	monetary	monetary	ADJ
fsr-3892	3	7	policy	policy	NOUN
fsr-3892	3	8	periods	period	NOUN
fsr-3892	3	9	,	,	PUNCT
fsr-3892	3	10	international	international	ADJ
fsr-3892	3	11	mutual	mutual	ADJ
fsr-3892	3	12	fund	fund	NOUN
fsr-3892	3	13	indexes	index	NOUN
fsr-3892	3	14	provide	provide	VERB
fsr-3892	3	15	lower	low	ADJ
fsr-3892	3	16	excess	excess	ADJ
fsr-3892	3	17	returns	return	NOUN
fsr-3892	3	18	than	than	ADP
fsr-3892	3	19	domestic	domestic	ADJ
fsr-3892	3	20	counterparts	counterpart	NOUN
fsr-3892	3	21	.	.	PUNCT
fsr-3892	4	1	additionally	additionally	ADV
fsr-3892	4	2	,	,	PUNCT
fsr-3892	4	3	the	the	DET
fsr-3892	4	4	correlations	correlation	NOUN
fsr-3892	4	5	between	between	ADP
fsr-3892	4	6	international	international	ADJ
fsr-3892	4	7	mutual	mutual	ADJ
fsr-3892	4	8	funds	fund	NOUN
fsr-3892	4	9	and	and	CCONJ
fsr-3892	4	10	domestic	domestic	ADJ
fsr-3892	4	11	mutual	mutual	ADJ
fsr-3892	4	12	funds	fund	NOUN
fsr-3892	4	13	are	be	AUX
fsr-3892	4	14	higher	high	ADJ
fsr-3892	4	15	during	during	ADP
fsr-3892	4	16	restrictive	restrictive	ADJ
fsr-3892	4	17	monetary	monetary	ADJ
fsr-3892	4	18	policy	policy	NOUN
fsr-3892	4	19	periods	period	NOUN
fsr-3892	4	20	.	.	PUNCT
fsr-3892	5	1	this	this	DET
fsr-3892	5	2	evidence	evidence	NOUN
fsr-3892	5	3	may	may	AUX
fsr-3892	5	4	represent	represent	VERB
fsr-3892	5	5	a	a	DET
fsr-3892	5	6	partial	partial	ADJ
fsr-3892	5	7	explanation	explanation	NOUN
fsr-3892	5	8	for	for	ADP
fsr-3892	5	9	the	the	DET
fsr-3892	5	10	home	home	NOUN
fsr-3892	5	11	country	country	NOUN
fsr-3892	5	12	bias	bias	NOUN
fsr-3892	5	13	exhibited	exhibit	VERB
fsr-3892	5	14	by	by	ADP
fsr-3892	5	15	us	us	PROPN
fsr-3892	5	16	-	-	PUNCT
fsr-3892	5	17	based	base	VERB
fsr-3892	5	18	individual	individual	ADJ
fsr-3892	5	19	and	and	CCONJ
fsr-3892	5	20	institutional	institutional	ADJ
fsr-3892	5	21	investors	investor	NOUN
fsr-3892	5	22	.	.	PUNCT
fsr-3892	6	1	©	©	ADP
fsr-3892	6	2	2000	2000	NUM
fsr-3892	6	3	elsevier	elsevier	PROPN
fsr-3892	6	4	science	science	PROPN
fsr-3892	6	5	inc	inc	PROPN
fsr-3892	6	6	.	.	PUNCT
fsr-3892	7	1	all	all	DET
fsr-3892	7	2	rights	right	NOUN
fsr-3892	7	3	reserved	reserve	VERB
fsr-3892	7	4	.	.	PUNCT
fsr-3892	8	1	jel	jel	PROPN
fsr-3892	8	2	classification	classification	PROPN
fsr-3892	8	3	:	:	PUNCT
fsr-3892	8	4	e44	e44	PROPN
fsr-3892	8	5	;	;	PUNCT
fsr-3892	8	6	e52	e52	PROPN
fsr-3892	8	7	;	;	PUNCT
fsr-3892	8	8	g15	g15	PROPN
fsr-3892	8	9	keywords	keyword	NOUN
fsr-3892	8	10	:	:	PUNCT
fsr-3892	8	11	federal	federal	PROPN
fsr-3892	8	12	reserve	reserve	PROPN
fsr-3892	8	13	;	;	PUNCT
fsr-3892	8	14	international	international	ADJ
fsr-3892	8	15	diversification	diversification	NOUN
fsr-3892	8	16	;	;	PUNCT
fsr-3892	8	17	discount	discount	NOUN
fsr-3892	8	18	rate	rate	NOUN
fsr-3892	8	19	;	;	PUNCT
fsr-3892	8	20	monetary	monetary	ADJ
fsr-3892	8	21	policy	policy	NOUN
fsr-3892	8	22	1	1	NUM
fsr-3892	8	23	.	.	PUNCT
fsr-3892	9	1	introduction	introduction	NOUN
fsr-3892	9	2	academic	academic	ADJ
fsr-3892	9	3	research	research	NOUN
fsr-3892	9	4	has	have	AUX
fsr-3892	9	5	touted	tout	VERB
fsr-3892	9	6	the	the	DET
fsr-3892	9	7	benefits	benefit	NOUN
fsr-3892	9	8	of	of	ADP
fsr-3892	9	9	international	international	ADJ
fsr-3892	9	10	portfolio	portfolio	NOUN
fsr-3892	9	11	diversification	diversification	NOUN
fsr-3892	9	12	arguing	argue	VERB
fsr-3892	9	13	that	that	SCONJ
fsr-3892	9	14	us	we	PRON
fsr-3892	9	15	investors	investor	NOUN
fsr-3892	9	16	could	could	AUX
fsr-3892	9	17	improve	improve	VERB
fsr-3892	9	18	their	their	PRON
fsr-3892	9	19	risk	risk	NOUN
fsr-3892	9	20	-	-	PUNCT
fsr-3892	9	21	return	return	NOUN
fsr-3892	9	22	profiles	profile	NOUN
fsr-3892	9	23	by	by	ADP
fsr-3892	9	24	purchasing	purchase	VERB
fsr-3892	9	25	international	international	ADJ
fsr-3892	9	26	equi	equi	NOUN
fsr-3892	9	27	*	*	SYM
fsr-3892	9	28	corresponding	correspond	VERB
fsr-3892	9	29	author	author	NOUN
fsr-3892	9	30	.	.	PUNCT
fsr-3892	10	1	tel.:11	tel.:11	VERB
fsr-3892	10	2	-	-	PUNCT
fsr-3892	10	3	804	804	NUM
fsr-3892	10	4	-	-	PUNCT
fsr-3892	10	5	951	951	NUM
fsr-3892	10	6	-	-	PUNCT
fsr-3892	10	7	5255	5255	NUM
fsr-3892	10	8	;	;	PUNCT
fsr-3892	10	9	fax:11	fax:11	NOUN
fsr-3892	10	10	-	-	PUNCT
fsr-3892	10	11	804	804	NUM
fsr-3892	10	12	-	-	PUNCT
fsr-3892	10	13	951	951	NUM
fsr-3892	10	14	-	-	SYM
fsr-3892	10	15	5200	5200	NUM
fsr-3892	10	16	.	.	PUNCT
fsr-3892	11	1	e	e	X
fsr-3892	11	2	-	-	NOUN
fsr-3892	11	3	mail	mail	NOUN
fsr-3892	11	4	address:rrj@aimr.org	address:rrj@aimr.org	X
fsr-3892	11	5	(	(	PUNCT
fsr-3892	11	6	r.r	r.r	PROPN
fsr-3892	11	7	.	.	PROPN
fsr-3892	11	8	johnson	johnson	PROPN
fsr-3892	11	9	)	)	PUNCT
fsr-3892	11	10	financial	financial	ADJ
fsr-3892	11	11	services	service	NOUN
fsr-3892	11	12	review	review	VERB
fsr-3892	11	13	8	8	NUM
fsr-3892	11	14	(	(	PUNCT
fsr-3892	11	15	1999	1999	NUM
fsr-3892	11	16	)	)	PUNCT
fsr-3892	12	1	199–210	199–210	NUM
fsr-3892	12	2	1057	1057	NUM
fsr-3892	12	3	-	-	SYM
fsr-3892	12	4	0810/00/$	0810/00/$	NUM
fsr-3892	12	5	–	–	PUNCT
fsr-3892	12	6	see	see	VERB
fsr-3892	12	7	front	front	ADJ
fsr-3892	12	8	matter	matter	NOUN
fsr-3892	12	9	©	©	PROPN
fsr-3892	12	10	2000	2000	NUM
fsr-3892	12	11	elsevier	elsevier	PROPN
fsr-3892	12	12	science	science	PROPN
fsr-3892	12	13	inc	inc	PROPN
fsr-3892	12	14	.	.	PUNCT
fsr-3892	13	1	all	all	DET
fsr-3892	13	2	rights	right	NOUN
fsr-3892	13	3	reserved	reserve	VERB
fsr-3892	13	4	.	.	PUNCT
fsr-3892	14	1	pii	pii	NOUN
fsr-3892	14	2	:	:	PUNCT
fsr-3892	14	3	s1057	s1057	NOUN
fsr-3892	14	4	-	-	PUNCT
fsr-3892	14	5	0810(00)00043	0810(00)00043	NOUN
fsr-3892	14	6	-	-	PUNCT
fsr-3892	14	7	8	8	NUM
fsr-3892	14	8	ties	tie	NOUN
fsr-3892	14	9	.	.	PUNCT
fsr-3892	15	1	however	however	ADV
fsr-3892	15	2	,	,	PUNCT
fsr-3892	15	3	home	home	NOUN
fsr-3892	15	4	asset	asset	NOUN
fsr-3892	15	5	bias	bias	NOUN
fsr-3892	15	6	,	,	PUNCT
fsr-3892	15	7	or	or	CCONJ
fsr-3892	15	8	the	the	DET
fsr-3892	15	9	tendency	tendency	NOUN
fsr-3892	15	10	of	of	ADP
fsr-3892	15	11	investors	investor	NOUN
fsr-3892	15	12	to	to	PART
fsr-3892	15	13	over	over	VERB
fsr-3892	15	14	invest	invest	VERB
fsr-3892	15	15	in	in	ADP
fsr-3892	15	16	assets	asset	NOUN
fsr-3892	15	17	based	base	VERB
fsr-3892	15	18	in	in	ADP
fsr-3892	15	19	their	their	PRON
fsr-3892	15	20	home	home	NOUN
fsr-3892	15	21	country	country	NOUN
fsr-3892	15	22	,	,	PUNCT
fsr-3892	15	23	is	be	AUX
fsr-3892	15	24	particularly	particularly	ADV
fsr-3892	15	25	pronounced	pronounce	VERB
fsr-3892	15	26	in	in	ADP
fsr-3892	15	27	us	us	PROPN
fsr-3892	15	28	markets	market	NOUN
fsr-3892	15	29	.	.	PUNCT
fsr-3892	16	1	for	for	ADP
fsr-3892	16	2	many	many	ADJ
fsr-3892	16	3	years	year	NOUN
fsr-3892	16	4	,	,	PUNCT
fsr-3892	16	5	market	market	NOUN
fsr-3892	16	6	watchers	watcher	NOUN
fsr-3892	16	7	have	have	AUX
fsr-3892	16	8	recognized	recognize	VERB
fsr-3892	16	9	that	that	SCONJ
fsr-3892	16	10	monetary	monetary	ADJ
fsr-3892	16	11	conditions	condition	NOUN
fsr-3892	16	12	,	,	PUNCT
fsr-3892	16	13	and	and	CCONJ
fsr-3892	16	14	the	the	DET
fsr-3892	16	15	federal	federal	PROPN
fsr-3892	16	16	reserve	reserve	PROPN
fsr-3892	16	17	in	in	ADP
fsr-3892	16	18	particular	particular	ADJ
fsr-3892	16	19	,	,	PUNCT
fsr-3892	16	20	have	have	VERB
fsr-3892	16	21	a	a	DET
fsr-3892	16	22	significant	significant	ADJ
fsr-3892	16	23	influence	influence	NOUN
fsr-3892	16	24	on	on	ADP
fsr-3892	16	25	security	security	NOUN
fsr-3892	16	26	returns	return	NOUN
fsr-3892	16	27	.	.	PUNCT
fsr-3892	17	1	academic	academic	ADJ
fsr-3892	17	2	research	research	NOUN
fsr-3892	17	3	(	(	PUNCT
fsr-3892	17	4	summarized	summarize	VERB
fsr-3892	17	5	in	in	ADP
fsr-3892	17	6	section	section	NOUN
fsr-3892	17	7	2	2	NUM
fsr-3892	17	8	)	)	PUNCT
fsr-3892	17	9	shows	show	VERB
fsr-3892	17	10	that	that	SCONJ
fsr-3892	17	11	stock	stock	NOUN
fsr-3892	17	12	and	and	CCONJ
fsr-3892	17	13	bond	bond	NOUN
fsr-3892	17	14	returns	return	NOUN
fsr-3892	17	15	are	be	AUX
fsr-3892	17	16	significantly	significantly	ADV
fsr-3892	17	17	higher	high	ADJ
fsr-3892	17	18	in	in	ADP
fsr-3892	17	19	periods	period	NOUN
fsr-3892	17	20	characterized	characterize	VERB
fsr-3892	17	21	by	by	ADP
fsr-3892	17	22	an	an	DET
fsr-3892	17	23	expansive	expansive	ADJ
fsr-3892	17	24	monetary	monetary	ADJ
fsr-3892	17	25	policy	policy	NOUN
fsr-3892	17	26	than	than	ADP
fsr-3892	17	27	security	security	NOUN
fsr-3892	17	28	returns	return	NOUN
fsr-3892	17	29	during	during	ADP
fsr-3892	17	30	restrictive	restrictive	ADJ
fsr-3892	17	31	monetary	monetary	ADJ
fsr-3892	17	32	periods	period	NOUN
fsr-3892	17	33	.	.	PUNCT
fsr-3892	18	1	the	the	DET
fsr-3892	18	2	influence	influence	NOUN
fsr-3892	18	3	of	of	ADP
fsr-3892	18	4	the	the	DET
fsr-3892	18	5	federal	federal	PROPN
fsr-3892	18	6	reserve	reserve	PROPN
fsr-3892	18	7	is	be	AUX
fsr-3892	18	8	not	not	PART
fsr-3892	18	9	limited	limit	VERB
fsr-3892	18	10	to	to	ADP
fsr-3892	18	11	domestic	domestic	ADJ
fsr-3892	18	12	stock	stock	NOUN
fsr-3892	18	13	and	and	CCONJ
fsr-3892	18	14	bond	bond	NOUN
fsr-3892	18	15	returns	return	NOUN
fsr-3892	18	16	,	,	PUNCT
fsr-3892	18	17	however	however	ADV
fsr-3892	18	18	,	,	PUNCT
fsr-3892	18	19	as	as	SCONJ
fsr-3892	18	20	recent	recent	ADJ
fsr-3892	18	21	research	research	NOUN
fsr-3892	18	22	has	have	AUX
fsr-3892	18	23	shown	show	VERB
fsr-3892	18	24	that	that	SCONJ
fsr-3892	18	25	us	us	PROPN
fsr-3892	18	26	central	central	PROPN
fsr-3892	18	27	bank	bank	NOUN
fsr-3892	18	28	policy	policy	NOUN
fsr-3892	18	29	is	be	AUX
fsr-3892	18	30	also	also	ADV
fsr-3892	18	31	associated	associate	VERB
fsr-3892	18	32	with	with	ADP
fsr-3892	18	33	foreign	foreign	ADJ
fsr-3892	18	34	market	market	NOUN
fsr-3892	18	35	return	return	NOUN
fsr-3892	18	36	patterns	pattern	NOUN
fsr-3892	18	37	.	.	PUNCT
fsr-3892	19	1	the	the	DET
fsr-3892	19	2	objective	objective	NOUN
fsr-3892	19	3	of	of	ADP
fsr-3892	19	4	this	this	DET
fsr-3892	19	5	study	study	NOUN
fsr-3892	19	6	is	be	AUX
fsr-3892	19	7	to	to	PART
fsr-3892	19	8	examine	examine	VERB
fsr-3892	19	9	the	the	DET
fsr-3892	19	10	performance	performance	NOUN
fsr-3892	19	11	of	of	ADP
fsr-3892	19	12	international	international	ADJ
fsr-3892	19	13	mutual	mutual	ADJ
fsr-3892	19	14	fund	fund	NOUN
fsr-3892	19	15	indexes	index	NOUN
fsr-3892	19	16	across	across	ADP
fsr-3892	19	17	alternative	alternative	ADJ
fsr-3892	19	18	federal	federal	PROPN
fsr-3892	19	19	reserve	reserve	PROPN
fsr-3892	19	20	monetary	monetary	ADJ
fsr-3892	19	21	policy	policy	NOUN
fsr-3892	19	22	environments	environment	NOUN
fsr-3892	19	23	.	.	PUNCT
fsr-3892	20	1	the	the	DET
fsr-3892	20	2	focus	focus	NOUN
fsr-3892	20	3	is	be	AUX
fsr-3892	20	4	on	on	ADP
fsr-3892	20	5	the	the	DET
fsr-3892	20	6	potential	potential	ADJ
fsr-3892	20	7	diversification	diversification	NOUN
fsr-3892	20	8	benefits	benefit	NOUN
fsr-3892	20	9	of	of	ADP
fsr-3892	20	10	investing	invest	VERB
fsr-3892	20	11	in	in	ADP
fsr-3892	20	12	international	international	ADJ
fsr-3892	20	13	mutual	mutual	ADJ
fsr-3892	20	14	funds	fund	NOUN
fsr-3892	20	15	.	.	PUNCT
fsr-3892	21	1	the	the	DET
fsr-3892	21	2	results	result	NOUN
fsr-3892	21	3	suggest	suggest	VERB
fsr-3892	21	4	that	that	SCONJ
fsr-3892	21	5	the	the	DET
fsr-3892	21	6	benefits	benefit	NOUN
fsr-3892	21	7	touted	tout	VERB
fsr-3892	21	8	by	by	ADP
fsr-3892	21	9	advocates	advocate	NOUN
fsr-3892	21	10	of	of	ADP
fsr-3892	21	11	international	international	ADJ
fsr-3892	21	12	diversification	diversification	NOUN
fsr-3892	21	13	may	may	AUX
fsr-3892	21	14	be	be	AUX
fsr-3892	21	15	less	less	ADJ
fsr-3892	21	16	than	than	SCONJ
fsr-3892	21	17	previous	previous	ADJ
fsr-3892	21	18	studies	study	NOUN
fsr-3892	21	19	indicate	indicate	VERB
fsr-3892	21	20	and	and	CCONJ
fsr-3892	21	21	may	may	AUX
fsr-3892	21	22	help	help	VERB
fsr-3892	21	23	explain	explain	VERB
fsr-3892	21	24	home	home	NOUN
fsr-3892	21	25	asset	asset	NOUN
fsr-3892	21	26	bias	bias	NOUN
fsr-3892	21	27	.	.	PUNCT
fsr-3892	22	1	the	the	DET
fsr-3892	22	2	results	result	NOUN
fsr-3892	22	3	also	also	ADV
fsr-3892	22	4	suggest	suggest	VERB
fsr-3892	22	5	that	that	SCONJ
fsr-3892	22	6	the	the	DET
fsr-3892	22	7	greatest	great	ADJ
fsr-3892	22	8	diversification	diversification	NOUN
fsr-3892	22	9	benefit	benefit	NOUN
fsr-3892	22	10	for	for	ADP
fsr-3892	22	11	us	we	PRON
fsr-3892	22	12	investors	investor	NOUN
fsr-3892	22	13	is	be	AUX
fsr-3892	22	14	achieved	achieve	VERB
fsr-3892	22	15	by	by	ADP
fsr-3892	22	16	investing	invest	VERB
fsr-3892	22	17	in	in	ADP
fsr-3892	22	18	diversified	diversified	ADJ
fsr-3892	22	19	asia	asia	PROPN
fsr-3892	22	20	/	/	SYM
fsr-3892	22	21	pacific	pacific	ADJ
fsr-3892	22	22	funds	fund	NOUN
fsr-3892	22	23	.	.	PUNCT
fsr-3892	23	1	however	however	ADV
fsr-3892	23	2	,	,	PUNCT
fsr-3892	23	3	in	in	ADP
fsr-3892	23	4	the	the	DET
fsr-3892	23	5	time	time	NOUN
fsr-3892	23	6	period	period	NOUN
fsr-3892	23	7	studied	study	VERB
fsr-3892	23	8	,	,	PUNCT
fsr-3892	23	9	this	this	DET
fsr-3892	23	10	diversification	diversification	NOUN
fsr-3892	23	11	benefit	benefit	NOUN
fsr-3892	23	12	is	be	AUX
fsr-3892	23	13	achieved	achieve	VERB
fsr-3892	23	14	at	at	ADP
fsr-3892	23	15	the	the	DET
fsr-3892	23	16	cost	cost	NOUN
fsr-3892	23	17	of	of	ADP
fsr-3892	23	18	lower	low	ADJ
fsr-3892	23	19	returns	return	NOUN
fsr-3892	23	20	.	.	PUNCT
fsr-3892	24	1	the	the	DET
fsr-3892	24	2	remainder	remainder	NOUN
fsr-3892	24	3	of	of	ADP
fsr-3892	24	4	this	this	DET
fsr-3892	24	5	study	study	NOUN
fsr-3892	24	6	is	be	AUX
fsr-3892	24	7	organized	organize	VERB
fsr-3892	24	8	as	as	SCONJ
fsr-3892	24	9	follows	follow	VERB
fsr-3892	24	10	:	:	PUNCT
fsr-3892	24	11	section	section	NOUN
fsr-3892	24	12	2	2	NUM
fsr-3892	24	13	reviews	review	VERB
fsr-3892	24	14	the	the	DET
fsr-3892	24	15	literature	literature	NOUN
fsr-3892	24	16	on	on	ADP
fsr-3892	24	17	international	international	ADJ
fsr-3892	24	18	diversification	diversification	NOUN
fsr-3892	24	19	and	and	CCONJ
fsr-3892	24	20	the	the	DET
fsr-3892	24	21	influence	influence	NOUN
fsr-3892	24	22	of	of	ADP
fsr-3892	24	23	monetary	monetary	ADJ
fsr-3892	24	24	policy	policy	NOUN
fsr-3892	24	25	on	on	ADP
fsr-3892	24	26	security	security	NOUN
fsr-3892	24	27	returns	return	NOUN
fsr-3892	24	28	;	;	PUNCT
fsr-3892	24	29	section	section	NOUN
fsr-3892	24	30	3	3	NUM
fsr-3892	24	31	describes	describe	VERB
fsr-3892	24	32	the	the	DET
fsr-3892	24	33	methodology	methodology	NOUN
fsr-3892	24	34	of	of	ADP
fsr-3892	24	35	the	the	DET
fsr-3892	24	36	study	study	NOUN
fsr-3892	24	37	and	and	CCONJ
fsr-3892	24	38	data	datum	NOUN
fsr-3892	24	39	employed	employ	VERB
fsr-3892	24	40	;	;	PUNCT
fsr-3892	24	41	section	section	NOUN
fsr-3892	24	42	4	4	NUM
fsr-3892	24	43	reviews	review	VERB
fsr-3892	24	44	the	the	DET
fsr-3892	24	45	results	result	NOUN
fsr-3892	24	46	of	of	ADP
fsr-3892	24	47	our	our	PRON
fsr-3892	24	48	analysis	analysis	NOUN
fsr-3892	24	49	;	;	PUNCT
fsr-3892	24	50	and	and	CCONJ
fsr-3892	24	51	section	section	NOUN
fsr-3892	24	52	5	5	NUM
fsr-3892	24	53	concludes	conclude	VERB
fsr-3892	24	54	the	the	DET
fsr-3892	24	55	paper	paper	NOUN
fsr-3892	24	56	.	.	PUNCT
fsr-3892	25	1	2	2	X
fsr-3892	25	2	.	.	X
fsr-3892	25	3	literature	literature	NOUN
fsr-3892	25	4	review	review	VERB
fsr-3892	25	5	2.1	2.1	NUM
fsr-3892	25	6	.	.	PUNCT
fsr-3892	26	1	international	international	ADJ
fsr-3892	26	2	diversification	diversification	NOUN
fsr-3892	26	3	proponents	proponent	NOUN
fsr-3892	26	4	of	of	ADP
fsr-3892	26	5	international	international	ADJ
fsr-3892	26	6	diversification	diversification	NOUN
fsr-3892	26	7	claim	claim	VERB
fsr-3892	26	8	that	that	SCONJ
fsr-3892	26	9	the	the	DET
fsr-3892	26	10	volatility	volatility	NOUN
fsr-3892	26	11	of	of	ADP
fsr-3892	26	12	domestic	domestic	ADJ
fsr-3892	26	13	markets	market	NOUN
fsr-3892	26	14	can	can	AUX
fsr-3892	26	15	be	be	AUX
fsr-3892	26	16	somewhat	somewhat	ADV
fsr-3892	26	17	offset	offset	VERB
fsr-3892	26	18	by	by	ADP
fsr-3892	26	19	investing	invest	VERB
fsr-3892	26	20	in	in	ADP
fsr-3892	26	21	foreign	foreign	ADJ
fsr-3892	26	22	markets	market	NOUN
fsr-3892	26	23	.	.	PUNCT
fsr-3892	27	1	aiello	aiello	PROPN
fsr-3892	27	2	&	&	CCONJ
fsr-3892	27	3	chieffe	chieffe	PROPN
fsr-3892	27	4	(	(	PUNCT
fsr-3892	27	5	1999	1999	NUM
fsr-3892	27	6	)	)	PUNCT
fsr-3892	27	7	conclude	conclude	VERB
fsr-3892	27	8	that	that	PRON
fsr-3892	27	9	investment	investment	NOUN
fsr-3892	27	10	into	into	ADP
fsr-3892	27	11	international	international	ADJ
fsr-3892	27	12	mutual	mutual	ADJ
fsr-3892	27	13	funds	fund	NOUN
fsr-3892	27	14	may	may	AUX
fsr-3892	27	15	offer	offer	VERB
fsr-3892	27	16	significant	significant	ADJ
fsr-3892	27	17	diversification	diversification	NOUN
fsr-3892	27	18	benefits	benefit	NOUN
fsr-3892	27	19	.	.	PUNCT
fsr-3892	28	1	still	still	ADV
fsr-3892	28	2	,	,	PUNCT
fsr-3892	28	3	as	as	SCONJ
fsr-3892	28	4	summarized	summarize	VERB
fsr-3892	28	5	by	by	ADP
fsr-3892	28	6	shawky	shawky	PROPN
fsr-3892	28	7	,	,	PUNCT
fsr-3892	28	8	kuenzel	kuenzel	NOUN
fsr-3892	28	9	,	,	PUNCT
fsr-3892	28	10	&	&	CCONJ
fsr-3892	28	11	mikhail	mikhail	PROPN
fsr-3892	28	12	(	(	PUNCT
fsr-3892	28	13	1997	1997	NUM
fsr-3892	28	14	)	)	PUNCT
fsr-3892	28	15	,	,	PUNCT
fsr-3892	28	16	the	the	DET
fsr-3892	28	17	benefits	benefit	NOUN
fsr-3892	28	18	of	of	ADP
fsr-3892	28	19	international	international	ADJ
fsr-3892	28	20	portfolio	portfolio	NOUN
fsr-3892	28	21	diversification	diversification	NOUN
fsr-3892	28	22	continue	continue	VERB
fsr-3892	28	23	to	to	PART
fsr-3892	28	24	be	be	AUX
fsr-3892	28	25	a	a	DET
fsr-3892	28	26	controversial	controversial	ADJ
fsr-3892	28	27	topic	topic	NOUN
fsr-3892	28	28	in	in	ADP
fsr-3892	28	29	the	the	DET
fsr-3892	28	30	financial	financial	ADJ
fsr-3892	28	31	literature	literature	NOUN
fsr-3892	28	32	.	.	PUNCT
fsr-3892	29	1	opponents	opponent	NOUN
fsr-3892	29	2	contend	contend	VERB
fsr-3892	29	3	that	that	SCONJ
fsr-3892	29	4	international	international	ADJ
fsr-3892	29	5	diversification	diversification	NOUN
fsr-3892	29	6	has	have	VERB
fsr-3892	29	7	no	no	DET
fsr-3892	29	8	economic	economic	ADJ
fsr-3892	29	9	rationale	rationale	NOUN
fsr-3892	29	10	(	(	PUNCT
fsr-3892	29	11	see	see	INTJ
fsr-3892	29	12	sinquefeld	sinquefeld	NOUN
fsr-3892	29	13	,	,	PUNCT
fsr-3892	29	14	1996	1996	NUM
fsr-3892	29	15	)	)	PUNCT
fsr-3892	29	16	.	.	PUNCT
fsr-3892	30	1	us	we	PRON
fsr-3892	30	2	institutional	institutional	ADJ
fsr-3892	30	3	investors	investor	NOUN
fsr-3892	30	4	seem	seem	VERB
fsr-3892	30	5	to	to	PART
fsr-3892	30	6	be	be	AUX
fsr-3892	30	7	slowly	slowly	ADV
fsr-3892	30	8	embracing	embrace	VERB
fsr-3892	30	9	the	the	DET
fsr-3892	30	10	concept	concept	NOUN
fsr-3892	30	11	of	of	ADP
fsr-3892	30	12	international	international	ADJ
fsr-3892	30	13	diversification	diversification	NOUN
fsr-3892	30	14	as	as	SCONJ
fsr-3892	30	15	the	the	DET
fsr-3892	30	16	trend	trend	NOUN
fsr-3892	30	17	has	have	AUX
fsr-3892	30	18	been	be	AUX
fsr-3892	30	19	toward	toward	ADP
fsr-3892	30	20	greater	great	ADJ
fsr-3892	30	21	commitment	commitment	NOUN
fsr-3892	30	22	of	of	ADP
fsr-3892	30	23	funds	fund	NOUN
fsr-3892	30	24	internationally	internationally	ADV
fsr-3892	30	25	.	.	PUNCT
fsr-3892	31	1	from	from	ADP
fsr-3892	31	2	1991	1991	NUM
fsr-3892	31	3	to	to	ADP
fsr-3892	31	4	1996	1996	NUM
fsr-3892	31	5	,	,	PUNCT
fsr-3892	31	6	foreign	foreign	ADJ
fsr-3892	31	7	securities	security	NOUN
fsr-3892	31	8	held	hold	VERB
fsr-3892	31	9	by	by	ADP
fsr-3892	31	10	tax	tax	NOUN
fsr-3892	31	11	-	-	PUNCT
fsr-3892	31	12	exempt	exempt	ADJ
fsr-3892	31	13	us	us	PROPN
fsr-3892	31	14	pension	pension	NOUN
fsr-3892	31	15	funds	fund	NOUN
fsr-3892	31	16	more	more	ADV
fsr-3892	31	17	than	than	ADP
fsr-3892	31	18	doubled	double	VERB
fsr-3892	31	19	.	.	PUNCT
fsr-3892	32	1	however	however	ADV
fsr-3892	32	2	,	,	PUNCT
fsr-3892	32	3	the	the	DET
fsr-3892	32	4	potential	potential	NOUN
fsr-3892	32	5	for	for	ADP
fsr-3892	32	6	additional	additional	ADJ
fsr-3892	32	7	international	international	ADJ
fsr-3892	32	8	investment	investment	NOUN
fsr-3892	32	9	is	be	AUX
fsr-3892	32	10	enormous	enormous	ADJ
fsr-3892	32	11	.	.	PUNCT
fsr-3892	33	1	gorman	gorman	NOUN
fsr-3892	33	2	(	(	PUNCT
fsr-3892	33	3	1998	1998	NUM
fsr-3892	33	4	)	)	PUNCT
fsr-3892	33	5	reports	report	VERB
fsr-3892	33	6	that	that	SCONJ
fsr-3892	33	7	with	with	ADP
fsr-3892	33	8	respect	respect	NOUN
fsr-3892	33	9	to	to	ADP
fsr-3892	33	10	the	the	DET
fsr-3892	33	11	equity	equity	NOUN
fsr-3892	33	12	portfolio	portfolio	NOUN
fsr-3892	33	13	,	,	PUNCT
fsr-3892	33	14	the	the	DET
fsr-3892	33	15	cross	cross	ADJ
fsr-3892	33	16	-	-	ADJ
fsr-3892	33	17	border	border	ADJ
fsr-3892	33	18	commitment	commitment	NOUN
fsr-3892	33	19	of	of	ADP
fsr-3892	33	20	the	the	DET
fsr-3892	33	21	typical	typical	ADJ
fsr-3892	33	22	us	us	PROPN
fsr-3892	33	23	pension	pension	NOUN
fsr-3892	33	24	plan	plan	NOUN
fsr-3892	33	25	is	be	AUX
fsr-3892	33	26	less	less	ADJ
fsr-3892	33	27	than	than	ADP
fsr-3892	33	28	half	half	DET
fsr-3892	33	29	that	that	DET
fsr-3892	33	30	of	of	ADP
fsr-3892	33	31	the	the	DET
fsr-3892	33	32	typical	typical	ADJ
fsr-3892	33	33	non	non	ADJ
fsr-3892	33	34	-	-	ADJ
fsr-3892	33	35	us	us	ADJ
fsr-3892	33	36	pension	pension	NOUN
fsr-3892	33	37	plan	plan	NOUN
fsr-3892	33	38	.	.	PUNCT
fsr-3892	34	1	almost	almost	ADV
fsr-3892	34	2	90	90	NUM
fsr-3892	34	3	%	%	NOUN
fsr-3892	34	4	of	of	ADP
fsr-3892	34	5	us	us	PROPN
fsr-3892	34	6	assets	asset	NOUN
fsr-3892	34	7	are	be	AUX
fsr-3892	34	8	still	still	ADV
fsr-3892	34	9	invested	invest	VERB
fsr-3892	34	10	domestically	domestically	ADV
fsr-3892	34	11	,	,	PUNCT
fsr-3892	34	12	which	which	PRON
fsr-3892	34	13	far	far	ADV
fsr-3892	34	14	exceeds	exceed	VERB
fsr-3892	34	15	the	the	DET
fsr-3892	34	16	domestic	domestic	ADJ
fsr-3892	34	17	holdings	holding	NOUN
fsr-3892	34	18	in	in	ADP
fsr-3892	34	19	most	most	ADJ
fsr-3892	34	20	countries	country	NOUN
fsr-3892	34	21	with	with	ADP
fsr-3892	34	22	developed	develop	VERB
fsr-3892	34	23	pension	pension	NOUN
fsr-3892	34	24	systems	system	NOUN
fsr-3892	34	25	.	.	PUNCT
fsr-3892	35	1	according	accord	VERB
fsr-3892	35	2	to	to	ADP
fsr-3892	35	3	melton	melton	PROPN
fsr-3892	35	4	(	(	PUNCT
fsr-3892	35	5	1996	1996	NUM
fsr-3892	35	6	)	)	PUNCT
fsr-3892	35	7	,	,	PUNCT
fsr-3892	35	8	the	the	DET
fsr-3892	35	9	united	united	PROPN
fsr-3892	35	10	kingdom	kingdom	PROPN
fsr-3892	35	11	and	and	CCONJ
fsr-3892	35	12	hong	hong	PROPN
fsr-3892	35	13	kong	kong	PROPN
fsr-3892	35	14	pension	pension	NOUN
fsr-3892	35	15	funds	fund	NOUN
fsr-3892	35	16	have	have	VERB
fsr-3892	35	17	28.0	28.0	NUM
fsr-3892	35	18	%	%	NOUN
fsr-3892	35	19	and	and	CCONJ
fsr-3892	35	20	56.8	56.8	NUM
fsr-3892	35	21	%	%	NOUN
fsr-3892	35	22	of	of	ADP
fsr-3892	35	23	their	their	PRON
fsr-3892	35	24	assets	asset	NOUN
fsr-3892	35	25	in	in	ADP
fsr-3892	35	26	overseas	overseas	ADJ
fsr-3892	35	27	equities	equity	NOUN
fsr-3892	35	28	and	and	CCONJ
fsr-3892	35	29	bonds	bond	NOUN
fsr-3892	35	30	,	,	PUNCT
fsr-3892	35	31	respectively	respectively	ADV
fsr-3892	35	32	.	.	PUNCT
fsr-3892	36	1	200	200	NUM
fsr-3892	36	2	r.r	r.r	PROPN
fsr-3892	36	3	.	.	PROPN
fsr-3892	36	4	johnson	johnson	PROPN
fsr-3892	36	5	et	et	PROPN
fsr-3892	36	6	al	al	PROPN
fsr-3892	36	7	.	.	PUNCT
fsr-3892	36	8	/	/	SYM
fsr-3892	36	9	financial	financial	ADJ
fsr-3892	36	10	services	service	NOUN
fsr-3892	36	11	review	review	VERB
fsr-3892	36	12	8	8	NUM
fsr-3892	36	13	(	(	PUNCT
fsr-3892	36	14	1999	1999	NUM
fsr-3892	36	15	)	)	PUNCT
fsr-3892	37	1	199–210	199–210	NUM
fsr-3892	37	2	the	the	DET
fsr-3892	37	3	potential	potential	ADJ
fsr-3892	37	4	benefits	benefit	NOUN
fsr-3892	37	5	of	of	ADP
fsr-3892	37	6	international	international	ADJ
fsr-3892	37	7	diversification	diversification	NOUN
fsr-3892	37	8	have	have	AUX
fsr-3892	37	9	resulted	result	VERB
fsr-3892	37	10	in	in	ADP
fsr-3892	37	11	increased	increase	VERB
fsr-3892	37	12	individual	individual	ADJ
fsr-3892	37	13	investor	investor	NOUN
fsr-3892	37	14	interest	interest	NOUN
fsr-3892	37	15	in	in	ADP
fsr-3892	37	16	international	international	ADJ
fsr-3892	37	17	mutual	mutual	ADJ
fsr-3892	37	18	funds	fund	NOUN
fsr-3892	37	19	.	.	PUNCT
fsr-3892	38	1	as	as	SCONJ
fsr-3892	38	2	reported	report	VERB
fsr-3892	38	3	by	by	ADP
fsr-3892	38	4	bers	ber	NOUN
fsr-3892	38	5	(	(	PUNCT
fsr-3892	38	6	1998	1998	NUM
fsr-3892	38	7	)	)	PUNCT
fsr-3892	38	8	,	,	PUNCT
fsr-3892	38	9	in	in	ADP
fsr-3892	38	10	1984	1984	NUM
fsr-3892	38	11	only	only	ADV
fsr-3892	38	12	13	13	NUM
fsr-3892	38	13	international	international	ADJ
fsr-3892	38	14	mutual	mutual	ADJ
fsr-3892	38	15	funds	fund	NOUN
fsr-3892	38	16	existed	exist	VERB
fsr-3892	38	17	.	.	PUNCT
fsr-3892	39	1	by	by	ADP
fsr-3892	39	2	1995	1995	NUM
fsr-3892	39	3	,	,	PUNCT
fsr-3892	39	4	this	this	DET
fsr-3892	39	5	number	number	NOUN
fsr-3892	39	6	had	have	AUX
fsr-3892	39	7	increased	increase	VERB
fsr-3892	39	8	to	to	ADP
fsr-3892	39	9	335	335	NUM
fsr-3892	39	10	.	.	PUNCT
fsr-3892	40	1	according	accord	VERB
fsr-3892	40	2	to	to	ADP
fsr-3892	40	3	the	the	DET
fsr-3892	40	4	investment	investment	NOUN
fsr-3892	40	5	company	company	NOUN
fsr-3892	40	6	institute	institute	PROPN
fsr-3892	40	7	(	(	PUNCT
fsr-3892	40	8	ici	ici	PROPN
fsr-3892	40	9	)	)	PUNCT
fsr-3892	40	10	,	,	PUNCT
fsr-3892	40	11	as	as	ADP
fsr-3892	40	12	of	of	ADP
fsr-3892	40	13	december	december	PROPN
fsr-3892	40	14	1996	1996	NUM
fsr-3892	40	15	,	,	PUNCT
fsr-3892	40	16	the	the	DET
fsr-3892	40	17	average	average	ADJ
fsr-3892	40	18	individual	individual	ADJ
fsr-3892	40	19	investor	investor	NOUN
fsr-3892	40	20	in	in	ADP
fsr-3892	40	21	the	the	DET
fsr-3892	40	22	us	us	PROPN
fsr-3892	40	23	held	hold	VERB
fsr-3892	40	24	a	a	DET
fsr-3892	40	25	position	position	NOUN
fsr-3892	40	26	similar	similar	ADJ
fsr-3892	40	27	to	to	ADP
fsr-3892	40	28	us	we	PRON
fsr-3892	40	29	pension	pension	NOUN
fsr-3892	40	30	plans	plan	NOUN
fsr-3892	40	31	.	.	PUNCT
fsr-3892	41	1	gorman	gorman	NOUN
fsr-3892	41	2	(	(	PUNCT
fsr-3892	41	3	1998	1998	NUM
fsr-3892	41	4	)	)	PUNCT
fsr-3892	41	5	,	,	PUNCT
fsr-3892	41	6	notes	note	VERB
fsr-3892	41	7	that	that	SCONJ
fsr-3892	41	8	of	of	ADP
fsr-3892	41	9	the	the	DET
fsr-3892	41	10	$	$	SYM
fsr-3892	41	11	2637	2637	NUM
fsr-3892	41	12	billion	billion	NUM
fsr-3892	41	13	in	in	ADP
fsr-3892	41	14	reported	report	VERB
fsr-3892	41	15	mutual	mutual	ADJ
fsr-3892	41	16	fund	fund	NOUN
fsr-3892	41	17	holdings	holding	NOUN
fsr-3892	41	18	in	in	ADP
fsr-3892	41	19	the	the	DET
fsr-3892	41	20	us	us	PROPN
fsr-3892	41	21	,	,	PUNCT
fsr-3892	41	22	only	only	ADV
fsr-3892	41	23	$	$	SYM
fsr-3892	41	24	321	321	NUM
fsr-3892	41	25	billion	billion	NUM
fsr-3892	41	26	,	,	PUNCT
fsr-3892	41	27	or	or	CCONJ
fsr-3892	41	28	12	12	NUM
fsr-3892	41	29	%	%	NOUN
fsr-3892	41	30	,	,	PUNCT
fsr-3892	41	31	is	be	AUX
fsr-3892	41	32	invested	invest	VERB
fsr-3892	41	33	abroad	abroad	ADV
fsr-3892	41	34	(	(	PUNCT
fsr-3892	41	35	principally	principally	ADV
fsr-3892	41	36	in	in	ADP
fsr-3892	41	37	stocks	stock	NOUN
fsr-3892	41	38	)	)	PUNCT
fsr-3892	41	39	.	.	PUNCT
fsr-3892	42	1	although	although	SCONJ
fsr-3892	42	2	this	this	DET
fsr-3892	42	3	commitment	commitment	NOUN
fsr-3892	42	4	is	be	AUX
fsr-3892	42	5	relatively	relatively	ADV
fsr-3892	42	6	small	small	ADJ
fsr-3892	42	7	in	in	ADP
fsr-3892	42	8	percentage	percentage	NOUN
fsr-3892	42	9	terms	term	NOUN
fsr-3892	42	10	,	,	PUNCT
fsr-3892	42	11	as	as	ADP
fsr-3892	42	12	with	with	ADP
fsr-3892	42	13	institutional	institutional	ADJ
fsr-3892	42	14	investors	investor	NOUN
fsr-3892	42	15	,	,	PUNCT
fsr-3892	42	16	the	the	DET
fsr-3892	42	17	trend	trend	NOUN
fsr-3892	42	18	is	be	AUX
fsr-3892	42	19	increasing	increase	VERB
fsr-3892	42	20	.	.	PUNCT
fsr-3892	43	1	the	the	DET
fsr-3892	43	2	costs	cost	NOUN
fsr-3892	43	3	of	of	ADP
fsr-3892	43	4	international	international	ADJ
fsr-3892	43	5	diversification	diversification	NOUN
fsr-3892	43	6	and	and	CCONJ
fsr-3892	43	7	the	the	DET
fsr-3892	43	8	ability	ability	NOUN
fsr-3892	43	9	of	of	ADP
fsr-3892	43	10	a	a	DET
fsr-3892	43	11	domestic	domestic	ADJ
fsr-3892	43	12	stock	stock	NOUN
fsr-3892	43	13	portfolio	portfolio	NOUN
fsr-3892	43	14	to	to	PART
fsr-3892	43	15	hedge	hedge	VERB
fsr-3892	43	16	domestic	domestic	ADJ
fsr-3892	43	17	inflation	inflation	NOUN
fsr-3892	43	18	risk	risk	NOUN
fsr-3892	43	19	are	be	AUX
fsr-3892	43	20	cited	cite	VERB
fsr-3892	43	21	as	as	ADP
fsr-3892	43	22	primary	primary	ADJ
fsr-3892	43	23	reasons	reason	NOUN
fsr-3892	43	24	for	for	ADP
fsr-3892	43	25	home	home	NOUN
fsr-3892	43	26	asset	asset	NOUN
fsr-3892	43	27	bias	bias	NOUN
fsr-3892	43	28	.	.	PUNCT
fsr-3892	44	1	tesar	tesar	PROPN
fsr-3892	44	2	&	&	CCONJ
fsr-3892	44	3	werner	werner	PROPN
fsr-3892	44	4	(	(	PUNCT
fsr-3892	44	5	1995	1995	NUM
fsr-3892	44	6	)	)	PUNCT
fsr-3892	44	7	find	find	VERB
fsr-3892	44	8	that	that	SCONJ
fsr-3892	44	9	the	the	DET
fsr-3892	44	10	high	high	ADJ
fsr-3892	44	11	turnover	turnover	NOUN
fsr-3892	44	12	on	on	ADP
fsr-3892	44	13	foreign	foreign	ADJ
fsr-3892	44	14	equity	equity	NOUN
fsr-3892	44	15	investments	investment	NOUN
fsr-3892	44	16	relative	relative	ADJ
fsr-3892	44	17	to	to	ADP
fsr-3892	44	18	turnover	turnover	NOUN
fsr-3892	44	19	on	on	ADP
fsr-3892	44	20	domestic	domestic	ADJ
fsr-3892	44	21	equity	equity	NOUN
fsr-3892	44	22	markets	market	NOUN
fsr-3892	44	23	suggests	suggest	VERB
fsr-3892	44	24	that	that	SCONJ
fsr-3892	44	25	transactions	transaction	NOUN
fsr-3892	44	26	costs	cost	NOUN
fsr-3892	44	27	alone	alone	ADV
fsr-3892	44	28	are	be	AUX
fsr-3892	44	29	an	an	DET
fsr-3892	44	30	unlikely	unlikely	ADJ
fsr-3892	44	31	explanation	explanation	NOUN
fsr-3892	44	32	for	for	ADP
fsr-3892	44	33	home	home	NOUN
fsr-3892	44	34	asset	asset	NOUN
fsr-3892	44	35	bias	bias	NOUN
fsr-3892	44	36	.	.	PUNCT
fsr-3892	45	1	cooper	cooper	PROPN
fsr-3892	45	2	&	&	CCONJ
fsr-3892	45	3	kaplanis	kaplanis	PROPN
fsr-3892	45	4	(	(	PUNCT
fsr-3892	45	5	1994	1994	NUM
fsr-3892	45	6	)	)	PUNCT
fsr-3892	45	7	examine	examine	VERB
fsr-3892	45	8	each	each	PRON
fsr-3892	45	9	of	of	ADP
fsr-3892	45	10	these	these	DET
fsr-3892	45	11	explanations	explanation	NOUN
fsr-3892	45	12	and	and	CCONJ
fsr-3892	45	13	find	find	VERB
fsr-3892	45	14	that	that	SCONJ
fsr-3892	45	15	,	,	PUNCT
fsr-3892	45	16	at	at	ADP
fsr-3892	45	17	best	well	ADV
fsr-3892	45	18	,	,	PUNCT
fsr-3892	45	19	each	each	PRON
fsr-3892	45	20	is	be	AUX
fsr-3892	45	21	only	only	ADV
fsr-3892	45	22	a	a	DET
fsr-3892	45	23	partial	partial	ADJ
fsr-3892	45	24	explanation	explanation	NOUN
fsr-3892	45	25	for	for	ADP
fsr-3892	45	26	the	the	DET
fsr-3892	45	27	home	home	NOUN
fsr-3892	45	28	asset	asset	NOUN
fsr-3892	45	29	bias	bias	NOUN
fsr-3892	45	30	.	.	PUNCT
fsr-3892	46	1	previous	previous	ADJ
fsr-3892	46	2	research	research	NOUN
fsr-3892	46	3	investigated	investigate	VERB
fsr-3892	46	4	the	the	DET
fsr-3892	46	5	effectiveness	effectiveness	NOUN
fsr-3892	46	6	of	of	ADP
fsr-3892	46	7	various	various	ADJ
fsr-3892	46	8	forms	form	NOUN
fsr-3892	46	9	of	of	ADP
fsr-3892	46	10	investment	investment	NOUN
fsr-3892	46	11	in	in	ADP
fsr-3892	46	12	obtaining	obtain	VERB
fsr-3892	46	13	international	international	ADJ
fsr-3892	46	14	diversification	diversification	NOUN
fsr-3892	46	15	for	for	ADP
fsr-3892	46	16	us	us	PROPN
fsr-3892	46	17	investors	investor	NOUN
fsr-3892	46	18	.	.	PUNCT
fsr-3892	47	1	bailey	bailey	PROPN
fsr-3892	47	2	&	&	CCONJ
fsr-3892	47	3	lim	lim	PROPN
fsr-3892	47	4	(	(	PUNCT
fsr-3892	47	5	1992	1992	NUM
fsr-3892	47	6	)	)	PUNCT
fsr-3892	47	7	,	,	PUNCT
fsr-3892	47	8	chang	chang	PROPN
fsr-3892	47	9	,	,	PUNCT
fsr-3892	47	10	eun	eun	PROPN
fsr-3892	47	11	,	,	PUNCT
fsr-3892	47	12	&	&	CCONJ
fsr-3892	47	13	kolodny	kolodny	PROPN
fsr-3892	47	14	(	(	PUNCT
fsr-3892	47	15	1995	1995	NUM
fsr-3892	47	16	)	)	PUNCT
fsr-3892	47	17	,	,	PUNCT
fsr-3892	47	18	and	and	CCONJ
fsr-3892	47	19	barry	barry	PROPN
fsr-3892	47	20	,	,	PUNCT
fsr-3892	47	21	peavy	peavy	PROPN
fsr-3892	47	22	,	,	PUNCT
fsr-3892	47	23	&	&	CCONJ
fsr-3892	47	24	rodriguez	rodriguez	PROPN
fsr-3892	47	25	(	(	PUNCT
fsr-3892	47	26	1997	1997	NUM
fsr-3892	47	27	)	)	PUNCT
fsr-3892	47	28	find	find	VERB
fsr-3892	47	29	that	that	SCONJ
fsr-3892	47	30	country	country	NOUN
fsr-3892	47	31	funds	fund	NOUN
fsr-3892	47	32	listed	list	VERB
fsr-3892	47	33	on	on	ADP
fsr-3892	47	34	us	us	PROPN
fsr-3892	47	35	exchanges	exchange	NOUN
fsr-3892	47	36	are	be	AUX
fsr-3892	47	37	more	more	ADV
fsr-3892	47	38	highly	highly	ADV
fsr-3892	47	39	correlated	correlate	VERB
fsr-3892	47	40	with	with	ADP
fsr-3892	47	41	us	us	PROPN
fsr-3892	47	42	markets	market	NOUN
fsr-3892	47	43	than	than	ADP
fsr-3892	47	44	the	the	DET
fsr-3892	47	45	returns	return	NOUN
fsr-3892	47	46	from	from	ADP
fsr-3892	47	47	their	their	PRON
fsr-3892	47	48	respective	respective	ADJ
fsr-3892	47	49	benchmarks	benchmark	NOUN
fsr-3892	47	50	.	.	PUNCT
fsr-3892	48	1	russell	russell	PROPN
fsr-3892	48	2	(	(	PUNCT
fsr-3892	48	3	1998	1998	NUM
fsr-3892	48	4	)	)	PUNCT
fsr-3892	48	5	concludes	conclude	VERB
fsr-3892	48	6	that	that	SCONJ
fsr-3892	48	7	us	us	PROPN
fsr-3892	48	8	exchange	exchange	NOUN
fsr-3892	48	9	listed	list	VERB
fsr-3892	48	10	securities	security	NOUN
fsr-3892	48	11	such	such	ADJ
fsr-3892	48	12	as	as	ADP
fsr-3892	48	13	american	american	ADJ
fsr-3892	48	14	depository	depository	NOUN
fsr-3892	48	15	receipts	receipt	NOUN
fsr-3892	48	16	,	,	PUNCT
fsr-3892	48	17	closed	close	VERB
fsr-3892	48	18	-	-	PUNCT
fsr-3892	48	19	end	end	NOUN
fsr-3892	48	20	country	country	NOUN
fsr-3892	48	21	funds	fund	NOUN
fsr-3892	48	22	,	,	PUNCT
fsr-3892	48	23	and	and	CCONJ
fsr-3892	48	24	multinational	multinational	ADJ
fsr-3892	48	25	corporations	corporation	NOUN
fsr-3892	48	26	behave	behave	VERB
fsr-3892	48	27	more	more	ADV
fsr-3892	48	28	like	like	ADP
fsr-3892	48	29	the	the	DET
fsr-3892	48	30	host	host	NOUN
fsr-3892	48	31	exchange	exchange	NOUN
fsr-3892	48	32	than	than	ADP
fsr-3892	48	33	their	their	PRON
fsr-3892	48	34	home	home	NOUN
fsr-3892	48	35	exchange	exchange	NOUN
fsr-3892	48	36	.	.	PUNCT
fsr-3892	49	1	this	this	DET
fsr-3892	49	2	result	result	NOUN
fsr-3892	49	3	suggests	suggest	VERB
fsr-3892	49	4	that	that	SCONJ
fsr-3892	49	5	these	these	DET
fsr-3892	49	6	us	us	PROPN
fsr-3892	49	7	exchange	exchange	NOUN
fsr-3892	49	8	-	-	PUNCT
fsr-3892	49	9	listed	list	VERB
fsr-3892	49	10	securities	security	NOUN
fsr-3892	49	11	,	,	PUNCT
fsr-3892	49	12	on	on	ADP
fsr-3892	49	13	average	average	ADJ
fsr-3892	49	14	,	,	PUNCT
fsr-3892	49	15	do	do	AUX
fsr-3892	49	16	not	not	PART
fsr-3892	49	17	perform	perform	VERB
fsr-3892	49	18	an	an	DET
fsr-3892	49	19	effective	effective	ADJ
fsr-3892	49	20	international	international	ADJ
fsr-3892	49	21	diversification	diversification	NOUN
fsr-3892	49	22	role	role	NOUN
fsr-3892	49	23	for	for	ADP
fsr-3892	49	24	us	us	PROPN
fsr-3892	49	25	investors	investor	NOUN
fsr-3892	49	26	.	.	PUNCT
fsr-3892	50	1	several	several	ADJ
fsr-3892	50	2	recent	recent	ADJ
fsr-3892	50	3	studies	study	NOUN
fsr-3892	50	4	provide	provide	VERB
fsr-3892	50	5	evidence	evidence	NOUN
fsr-3892	50	6	that	that	SCONJ
fsr-3892	50	7	the	the	DET
fsr-3892	50	8	benefits	benefit	NOUN
fsr-3892	50	9	of	of	ADP
fsr-3892	50	10	international	international	ADJ
fsr-3892	50	11	diversification	diversification	NOUN
fsr-3892	50	12	may	may	AUX
fsr-3892	50	13	be	be	AUX
fsr-3892	50	14	substantially	substantially	ADV
fsr-3892	50	15	less	less	ADJ
fsr-3892	50	16	than	than	SCONJ
fsr-3892	50	17	suggested	suggest	VERB
fsr-3892	50	18	by	by	ADP
fsr-3892	50	19	early	early	ADJ
fsr-3892	50	20	academic	academic	ADJ
fsr-3892	50	21	researchers	researcher	NOUN
fsr-3892	50	22	.	.	PUNCT
fsr-3892	51	1	in	in	ADP
fsr-3892	51	2	a	a	DET
fsr-3892	51	3	study	study	NOUN
fsr-3892	51	4	of	of	ADP
fsr-3892	51	5	the	the	DET
fsr-3892	51	6	us	us	PROPN
fsr-3892	51	7	and	and	CCONJ
fsr-3892	51	8	its	its	PRON
fsr-3892	51	9	g-7	g-7	NOUN
fsr-3892	51	10	partners	partner	NOUN
fsr-3892	51	11	,	,	PUNCT
fsr-3892	51	12	hanna	hanna	PROPN
fsr-3892	51	13	,	,	PUNCT
fsr-3892	51	14	mccormick	mccormick	PROPN
fsr-3892	51	15	,	,	PUNCT
fsr-3892	51	16	&	&	CCONJ
fsr-3892	51	17	perdue	perdue	PROPN
fsr-3892	51	18	(	(	PUNCT
fsr-3892	51	19	1999	1999	NUM
fsr-3892	51	20	)	)	PUNCT
fsr-3892	51	21	find	find	VERB
fsr-3892	51	22	that	that	SCONJ
fsr-3892	51	23	markets	market	NOUN
fsr-3892	51	24	do	do	AUX
fsr-3892	51	25	not	not	PART
fsr-3892	51	26	move	move	VERB
fsr-3892	51	27	in	in	ADP
fsr-3892	51	28	opposite	opposite	ADJ
fsr-3892	51	29	directions	direction	NOUN
fsr-3892	51	30	with	with	ADP
fsr-3892	51	31	enough	enough	ADJ
fsr-3892	51	32	frequency	frequency	NOUN
fsr-3892	51	33	to	to	PART
fsr-3892	51	34	justify	justify	VERB
fsr-3892	51	35	the	the	DET
fsr-3892	51	36	assertion	assertion	NOUN
fsr-3892	51	37	that	that	SCONJ
fsr-3892	51	38	foreign	foreign	ADJ
fsr-3892	51	39	gains	gain	NOUN
fsr-3892	51	40	will	will	AUX
fsr-3892	51	41	compensate	compensate	VERB
fsr-3892	51	42	for	for	ADP
fsr-3892	51	43	domestic	domestic	ADJ
fsr-3892	51	44	losses	loss	NOUN
fsr-3892	51	45	.	.	PUNCT
fsr-3892	52	1	ho	ho	PROPN
fsr-3892	52	2	,	,	PUNCT
fsr-3892	52	3	milevsky	milevsky	NOUN
fsr-3892	52	4	,	,	PUNCT
fsr-3892	52	5	&	&	CCONJ
fsr-3892	52	6	robinson	robinson	PROPN
fsr-3892	52	7	(	(	PUNCT
fsr-3892	52	8	1999	1999	NUM
fsr-3892	52	9	)	)	PUNCT
fsr-3892	52	10	conclude	conclude	VERB
fsr-3892	52	11	that	that	SCONJ
fsr-3892	52	12	international	international	ADJ
fsr-3892	52	13	diversification	diversification	NOUN
fsr-3892	52	14	provides	provide	VERB
fsr-3892	52	15	a	a	DET
fsr-3892	52	16	substantial	substantial	ADJ
fsr-3892	52	17	benefit	benefit	NOUN
fsr-3892	52	18	to	to	ADP
fsr-3892	52	19	canadian	canadian	ADJ
fsr-3892	52	20	investors	investor	NOUN
fsr-3892	52	21	by	by	ADP
fsr-3892	52	22	reducing	reduce	VERB
fsr-3892	52	23	shortfall	shortfall	NOUN
fsr-3892	52	24	risk	risk	NOUN
fsr-3892	52	25	,	,	PUNCT
fsr-3892	52	26	but	but	CCONJ
fsr-3892	52	27	does	do	AUX
fsr-3892	52	28	not	not	PART
fsr-3892	52	29	benefit	benefit	VERB
fsr-3892	52	30	american	american	ADJ
fsr-3892	52	31	investors	investor	NOUN
fsr-3892	52	32	materially	materially	ADV
fsr-3892	52	33	.	.	PUNCT
fsr-3892	53	1	the	the	DET
fsr-3892	53	2	benefits	benefit	NOUN
fsr-3892	53	3	of	of	ADP
fsr-3892	53	4	international	international	ADJ
fsr-3892	53	5	diversification	diversification	NOUN
fsr-3892	53	6	rest	rest	VERB
fsr-3892	53	7	largely	largely	ADV
fsr-3892	53	8	on	on	ADP
fsr-3892	53	9	the	the	DET
fsr-3892	53	10	correlation	correlation	NOUN
fsr-3892	53	11	structure	structure	NOUN
fsr-3892	53	12	of	of	ADP
fsr-3892	53	13	international	international	ADJ
fsr-3892	53	14	market	market	NOUN
fsr-3892	53	15	returns	return	NOUN
fsr-3892	53	16	.	.	PUNCT
fsr-3892	54	1	as	as	SCONJ
fsr-3892	54	2	discussed	discuss	VERB
fsr-3892	54	3	by	by	ADP
fsr-3892	54	4	conover	conover	PROPN
fsr-3892	54	5	,	,	PUNCT
fsr-3892	54	6	jensen	jensen	PROPN
fsr-3892	54	7	,	,	PUNCT
fsr-3892	54	8	&	&	CCONJ
fsr-3892	54	9	johnson	johnson	PROPN
fsr-3892	54	10	(	(	PUNCT
fsr-3892	54	11	1999	1999	NUM
fsr-3892	54	12	)	)	PUNCT
fsr-3892	54	13	,	,	PUNCT
fsr-3892	54	14	an	an	DET
fsr-3892	54	15	underlying	underlying	ADJ
fsr-3892	54	16	factor	factor	NOUN
fsr-3892	54	17	that	that	PRON
fsr-3892	54	18	significantly	significantly	ADV
fsr-3892	54	19	influences	influence	VERB
fsr-3892	54	20	the	the	DET
fsr-3892	54	21	benefits	benefit	NOUN
fsr-3892	54	22	of	of	ADP
fsr-3892	54	23	international	international	ADJ
fsr-3892	54	24	diversification	diversification	NOUN
fsr-3892	54	25	is	be	AUX
fsr-3892	54	26	the	the	DET
fsr-3892	54	27	stability	stability	NOUN
fsr-3892	54	28	of	of	ADP
fsr-3892	54	29	cross	cross	ADJ
fsr-3892	54	30	-	-	ADJ
fsr-3892	54	31	country	country	ADJ
fsr-3892	54	32	correlations	correlation	NOUN
fsr-3892	54	33	over	over	ADP
fsr-3892	54	34	time	time	NOUN
fsr-3892	54	35	.	.	PUNCT
fsr-3892	55	1	the	the	DET
fsr-3892	55	2	consistency	consistency	NOUN
fsr-3892	55	3	of	of	ADP
fsr-3892	55	4	the	the	DET
fsr-3892	55	5	co	co	NOUN
fsr-3892	55	6	-	-	NOUN
fsr-3892	55	7	movements	movement	NOUN
fsr-3892	55	8	between	between	ADP
fsr-3892	55	9	international	international	ADJ
fsr-3892	55	10	stock	stock	NOUN
fsr-3892	55	11	market	market	NOUN
fsr-3892	55	12	indexes	index	NOUN
fsr-3892	55	13	is	be	AUX
fsr-3892	55	14	examined	examine	VERB
fsr-3892	55	15	in	in	ADP
fsr-3892	55	16	several	several	ADJ
fsr-3892	55	17	studies	study	NOUN
fsr-3892	55	18	.	.	PUNCT
fsr-3892	56	1	longin	longin	PROPN
fsr-3892	56	2	&	&	CCONJ
fsr-3892	56	3	solnik	solnik	X
fsr-3892	56	4	(	(	PUNCT
fsr-3892	56	5	1995	1995	NUM
fsr-3892	56	6	)	)	PUNCT
fsr-3892	56	7	and	and	CCONJ
fsr-3892	56	8	solnik	solnik	X
fsr-3892	56	9	,	,	PUNCT
fsr-3892	56	10	boucrelle	boucrelle	NOUN
fsr-3892	56	11	,	,	PUNCT
fsr-3892	56	12	&	&	CCONJ
fsr-3892	56	13	lefur	lefur	PROPN
fsr-3892	56	14	(	(	PUNCT
fsr-3892	56	15	1996	1996	NUM
fsr-3892	56	16	)	)	PUNCT
fsr-3892	56	17	find	find	VERB
fsr-3892	56	18	that	that	SCONJ
fsr-3892	56	19	the	the	DET
fsr-3892	56	20	correlation	correlation	NOUN
fsr-3892	56	21	structure	structure	NOUN
fsr-3892	56	22	has	have	AUX
fsr-3892	56	23	fluctuated	fluctuate	VERB
fsr-3892	56	24	widely	widely	ADV
fsr-3892	56	25	over	over	ADP
fsr-3892	56	26	time	time	NOUN
fsr-3892	56	27	,	,	PUNCT
fsr-3892	56	28	yet	yet	ADV
fsr-3892	56	29	has	have	AUX
fsr-3892	56	30	only	only	ADV
fsr-3892	56	31	risen	rise	VERB
fsr-3892	56	32	slightly	slightly	ADV
fsr-3892	56	33	during	during	ADP
fsr-3892	56	34	the	the	DET
fsr-3892	56	35	30	30	NUM
fsr-3892	56	36	-	-	PUNCT
fsr-3892	56	37	year	year	NOUN
fsr-3892	56	38	time	time	NOUN
fsr-3892	56	39	period	period	NOUN
fsr-3892	56	40	examined	examine	VERB
fsr-3892	56	41	.	.	PUNCT
fsr-3892	57	1	another	another	DET
fsr-3892	57	2	interesting	interesting	ADJ
fsr-3892	57	3	finding	finding	NOUN
fsr-3892	57	4	of	of	ADP
fsr-3892	57	5	longin	longin	NOUN
fsr-3892	57	6	and	and	CCONJ
fsr-3892	57	7	solnik	solnik	PROPN
fsr-3892	57	8	and	and	CCONJ
fsr-3892	57	9	confirmed	confirm	VERB
fsr-3892	57	10	by	by	ADP
fsr-3892	57	11	shawky	shawky	PROPN
fsr-3892	57	12	,	,	PUNCT
fsr-3892	57	13	kuenzel	kuenzel	NOUN
fsr-3892	57	14	,	,	PUNCT
fsr-3892	57	15	&	&	CCONJ
fsr-3892	57	16	mikhail	mikhail	PROPN
fsr-3892	57	17	(	(	PUNCT
fsr-3892	57	18	1997	1997	NUM
fsr-3892	57	19	)	)	PUNCT
fsr-3892	57	20	is	be	AUX
fsr-3892	57	21	that	that	SCONJ
fsr-3892	57	22	the	the	DET
fsr-3892	57	23	correlations	correlation	NOUN
fsr-3892	57	24	seem	seem	VERB
fsr-3892	57	25	to	to	PART
fsr-3892	57	26	be	be	AUX
fsr-3892	57	27	higher	high	ADJ
fsr-3892	57	28	in	in	ADP
fsr-3892	57	29	times	time	NOUN
fsr-3892	57	30	of	of	ADP
fsr-3892	57	31	high	high	ADJ
fsr-3892	57	32	market	market	NOUN
fsr-3892	57	33	volatility	volatility	NOUN
fsr-3892	57	34	.	.	PUNCT
fsr-3892	58	1	erb	erb	PROPN
fsr-3892	58	2	,	,	PUNCT
fsr-3892	58	3	harvey	harvey	NOUN
fsr-3892	58	4	,	,	PUNCT
fsr-3892	58	5	&	&	CCONJ
fsr-3892	58	6	viskanta	viskanta	PROPN
fsr-3892	58	7	(	(	PUNCT
fsr-3892	58	8	1994	1994	NUM
fsr-3892	58	9	)	)	PUNCT
fsr-3892	58	10	report	report	NOUN
fsr-3892	58	11	that	that	SCONJ
fsr-3892	58	12	international	international	ADJ
fsr-3892	58	13	equity	equity	NOUN
fsr-3892	58	14	correlations	correlation	NOUN
fsr-3892	58	15	are	be	AUX
fsr-3892	58	16	higher	high	ADJ
fsr-3892	58	17	during	during	ADP
fsr-3892	58	18	recessions	recession	NOUN
fsr-3892	58	19	than	than	ADP
fsr-3892	58	20	during	during	ADP
fsr-3892	58	21	expansions	expansion	NOUN
fsr-3892	58	22	,	,	PUNCT
fsr-3892	58	23	confirming	confirm	VERB
fsr-3892	58	24	these	these	DET
fsr-3892	58	25	findings	finding	NOUN
fsr-3892	58	26	.	.	PUNCT
fsr-3892	59	1	bookstaber	bookstaber	NOUN
fsr-3892	59	2	(	(	PUNCT
fsr-3892	59	3	1997	1997	NUM
fsr-3892	59	4	)	)	PUNCT
fsr-3892	59	5	concludes	conclude	VERB
fsr-3892	59	6	that	that	SCONJ
fsr-3892	59	7	markets	market	NOUN
fsr-3892	59	8	are	be	AUX
fsr-3892	59	9	not	not	PART
fsr-3892	59	10	normal	normal	ADJ
fsr-3892	59	11	and	and	CCONJ
fsr-3892	59	12	that	that	SCONJ
fsr-3892	59	13	diversification	diversification	NOUN
fsr-3892	59	14	benefits	benefit	NOUN
fsr-3892	59	15	are	be	AUX
fsr-3892	59	16	greatly	greatly	ADV
fsr-3892	59	17	mitigated	mitigate	VERB
fsr-3892	59	18	when	when	SCONJ
fsr-3892	59	19	the	the	DET
fsr-3892	59	20	investor	investor	NOUN
fsr-3892	59	21	needs	need	VERB
fsr-3892	59	22	them	they	PRON
fsr-3892	59	23	most	most	ADJ
fsr-3892	59	24	.	.	PUNCT
fsr-3892	60	1	201r.r	201r.r	X
fsr-3892	60	2	.	.	PUNCT
fsr-3892	61	1	johnson	johnson	PROPN
fsr-3892	61	2	et	et	PROPN
fsr-3892	61	3	al	al	PROPN
fsr-3892	61	4	.	.	PUNCT
fsr-3892	61	5	/	/	SYM
fsr-3892	61	6	financial	financial	ADJ
fsr-3892	61	7	services	service	NOUN
fsr-3892	61	8	review	review	VERB
fsr-3892	61	9	8	8	NUM
fsr-3892	61	10	(	(	PUNCT
fsr-3892	61	11	1999	1999	NUM
fsr-3892	61	12	)	)	PUNCT
fsr-3892	62	1	199–210	199–210	NUM
fsr-3892	62	2	2.2	2.2	NUM
fsr-3892	62	3	.	.	PUNCT
fsr-3892	62	4	federal	federal	PROPN
fsr-3892	62	5	reserve	reserve	PROPN
fsr-3892	62	6	monetary	monetary	ADJ
fsr-3892	62	7	policy	policy	NOUN
fsr-3892	62	8	and	and	CCONJ
fsr-3892	62	9	capital	capital	NOUN
fsr-3892	62	10	market	market	NOUN
fsr-3892	62	11	returns	return	VERB
fsr-3892	62	12	short	short	ADJ
fsr-3892	62	13	-	-	PUNCT
fsr-3892	62	14	term	term	NOUN
fsr-3892	62	15	reactions	reaction	NOUN
fsr-3892	62	16	to	to	ADP
fsr-3892	62	17	changes	change	NOUN
fsr-3892	62	18	in	in	ADP
fsr-3892	62	19	federal	federal	ADJ
fsr-3892	62	20	reserve	reserve	PROPN
fsr-3892	62	21	monetary	monetary	ADJ
fsr-3892	62	22	policy	policy	NOUN
fsr-3892	62	23	have	have	AUX
fsr-3892	62	24	been	be	AUX
fsr-3892	62	25	empirically	empirically	ADV
fsr-3892	62	26	documented	document	VERB
fsr-3892	62	27	in	in	ADP
fsr-3892	62	28	both	both	CCONJ
fsr-3892	62	29	the	the	DET
fsr-3892	62	30	us	us	PROPN
fsr-3892	62	31	and	and	CCONJ
fsr-3892	62	32	foreign	foreign	ADJ
fsr-3892	62	33	markets	market	NOUN
fsr-3892	62	34	.	.	PUNCT
fsr-3892	63	1	among	among	ADP
fsr-3892	63	2	others	other	NOUN
fsr-3892	63	3	,	,	PUNCT
fsr-3892	63	4	jensen	jensen	PROPN
fsr-3892	63	5	&	&	CCONJ
fsr-3892	63	6	johnson	johnson	PROPN
fsr-3892	63	7	(	(	PUNCT
fsr-3892	63	8	1993	1993	NUM
fsr-3892	63	9	)	)	PUNCT
fsr-3892	63	10	find	find	VERB
fsr-3892	63	11	evidence	evidence	NOUN
fsr-3892	63	12	of	of	ADP
fsr-3892	63	13	monetary	monetary	ADJ
fsr-3892	63	14	policy	policy	NOUN
fsr-3892	63	15	“	"	PUNCT
fsr-3892	63	16	announcement	announcement	NOUN
fsr-3892	63	17	effects	effect	NOUN
fsr-3892	63	18	”	"	PUNCT
fsr-3892	63	19	in	in	ADP
fsr-3892	63	20	the	the	DET
fsr-3892	63	21	stock	stock	NOUN
fsr-3892	63	22	market	market	NOUN
fsr-3892	63	23	.	.	PUNCT
fsr-3892	64	1	furthermore	furthermore	ADV
fsr-3892	64	2	,	,	PUNCT
fsr-3892	64	3	the	the	DET
fsr-3892	64	4	short	short	ADJ
fsr-3892	64	5	-	-	PUNCT
fsr-3892	64	6	term	term	NOUN
fsr-3892	64	7	effects	effect	NOUN
fsr-3892	64	8	are	be	AUX
fsr-3892	64	9	not	not	PART
fsr-3892	64	10	limited	limit	VERB
fsr-3892	64	11	to	to	ADP
fsr-3892	64	12	us	us	PROPN
fsr-3892	64	13	markets	market	NOUN
fsr-3892	64	14	,	,	PUNCT
fsr-3892	64	15	as	as	SCONJ
fsr-3892	64	16	johnson	johnson	PROPN
fsr-3892	64	17	&	&	CCONJ
fsr-3892	64	18	jensen	jensen	PROPN
fsr-3892	64	19	(	(	PUNCT
fsr-3892	64	20	1993	1993	NUM
fsr-3892	64	21	)	)	PUNCT
fsr-3892	64	22	report	report	NOUN
fsr-3892	64	23	that	that	SCONJ
fsr-3892	64	24	us	we	PRON
fsr-3892	64	25	monetary	monetary	ADJ
fsr-3892	64	26	policy	policy	NOUN
fsr-3892	64	27	changes	change	NOUN
fsr-3892	64	28	are	be	AUX
fsr-3892	64	29	also	also	ADV
fsr-3892	64	30	associated	associate	VERB
fsr-3892	64	31	with	with	ADP
fsr-3892	64	32	reactions	reaction	NOUN
fsr-3892	64	33	in	in	ADP
fsr-3892	64	34	foreign	foreign	ADJ
fsr-3892	64	35	equity	equity	NOUN
fsr-3892	64	36	markets	market	NOUN
fsr-3892	64	37	.	.	PUNCT
fsr-3892	65	1	recent	recent	ADJ
fsr-3892	65	2	evidence	evidence	NOUN
fsr-3892	65	3	suggests	suggest	VERB
fsr-3892	65	4	that	that	SCONJ
fsr-3892	65	5	monetary	monetary	ADJ
fsr-3892	65	6	conditions	condition	NOUN
fsr-3892	65	7	are	be	AUX
fsr-3892	65	8	also	also	ADV
fsr-3892	65	9	related	relate	VERB
fsr-3892	65	10	to	to	ADP
fsr-3892	65	11	long	long	ADJ
fsr-3892	65	12	-	-	PUNCT
fsr-3892	65	13	term	term	NOUN
fsr-3892	65	14	performance	performance	NOUN
fsr-3892	65	15	patterns	pattern	NOUN
fsr-3892	65	16	in	in	ADP
fsr-3892	65	17	security	security	NOUN
fsr-3892	65	18	markets	market	NOUN
fsr-3892	65	19	.	.	PUNCT
fsr-3892	66	1	prather	prather	PROPN
fsr-3892	66	2	&	&	CCONJ
fsr-3892	66	3	bertin	bertin	PROPN
fsr-3892	66	4	(	(	PUNCT
fsr-3892	66	5	1997	1997	NUM
fsr-3892	66	6	)	)	PUNCT
fsr-3892	66	7	present	present	VERB
fsr-3892	66	8	a	a	DET
fsr-3892	66	9	simple	simple	ADJ
fsr-3892	66	10	trading	trading	NOUN
fsr-3892	66	11	strategy	strategy	NOUN
fsr-3892	66	12	for	for	ADP
fsr-3892	66	13	individual	individual	ADJ
fsr-3892	66	14	investors	investor	NOUN
fsr-3892	66	15	based	base	VERB
fsr-3892	66	16	on	on	ADP
fsr-3892	66	17	federal	federal	PROPN
fsr-3892	66	18	reserve	reserve	NOUN
fsr-3892	66	19	announcements	announcement	NOUN
fsr-3892	66	20	of	of	ADP
fsr-3892	66	21	discount	discount	NOUN
fsr-3892	66	22	rate	rate	NOUN
fsr-3892	66	23	changes	change	NOUN
fsr-3892	66	24	.	.	PUNCT
fsr-3892	67	1	conover	conover	PROPN
fsr-3892	67	2	,	,	PUNCT
fsr-3892	67	3	jensen	jensen	PROPN
fsr-3892	67	4	,	,	PUNCT
fsr-3892	67	5	&	&	CCONJ
fsr-3892	67	6	johnson	johnson	PROPN
fsr-3892	67	7	(	(	PUNCT
fsr-3892	67	8	1999	1999	NUM
fsr-3892	67	9	)	)	PUNCT
fsr-3892	67	10	provide	provide	VERB
fsr-3892	67	11	evidence	evidence	NOUN
fsr-3892	67	12	indicating	indicate	VERB
fsr-3892	67	13	that	that	SCONJ
fsr-3892	67	14	international	international	ADJ
fsr-3892	67	15	stock	stock	NOUN
fsr-3892	67	16	markets	market	NOUN
fsr-3892	67	17	also	also	ADV
fsr-3892	67	18	exhibit	exhibit	VERB
fsr-3892	67	19	patterns	pattern	NOUN
fsr-3892	67	20	that	that	PRON
fsr-3892	67	21	are	be	AUX
fsr-3892	67	22	linked	link	VERB
fsr-3892	67	23	to	to	ADP
fsr-3892	67	24	monetary	monetary	ADJ
fsr-3892	67	25	policy	policy	NOUN
fsr-3892	67	26	changes	change	NOUN
fsr-3892	67	27	.	.	PUNCT
fsr-3892	68	1	the	the	DET
fsr-3892	68	2	authors	author	NOUN
fsr-3892	68	3	demonstrate	demonstrate	VERB
fsr-3892	68	4	that	that	SCONJ
fsr-3892	68	5	the	the	DET
fsr-3892	68	6	patterns	pattern	NOUN
fsr-3892	68	7	are	be	AUX
fsr-3892	68	8	in	in	ADP
fsr-3892	68	9	the	the	DET
fsr-3892	68	10	same	same	ADJ
fsr-3892	68	11	direction	direction	NOUN
fsr-3892	68	12	as	as	ADP
fsr-3892	68	13	us	we	PRON
fsr-3892	68	14	market	market	NOUN
fsr-3892	68	15	patterns	pattern	NOUN
fsr-3892	68	16	and	and	CCONJ
fsr-3892	68	17	,	,	PUNCT
fsr-3892	68	18	for	for	ADP
fsr-3892	68	19	several	several	ADJ
fsr-3892	68	20	countries	country	NOUN
fsr-3892	68	21	,	,	PUNCT
fsr-3892	68	22	of	of	ADP
fsr-3892	68	23	comparable	comparable	ADJ
fsr-3892	68	24	size	size	NOUN
fsr-3892	68	25	to	to	ADP
fsr-3892	68	26	those	those	PRON
fsr-3892	68	27	documented	document	VERB
fsr-3892	68	28	in	in	ADP
fsr-3892	68	29	the	the	DET
fsr-3892	68	30	us	us	PROPN
fsr-3892	68	31	stock	stock	NOUN
fsr-3892	68	32	market	market	NOUN
fsr-3892	68	33	.	.	PUNCT
fsr-3892	69	1	3	3	X
fsr-3892	69	2	.	.	X
fsr-3892	69	3	methodology	methodology	NOUN
fsr-3892	69	4	and	and	CCONJ
fsr-3892	69	5	data	datum	NOUN
fsr-3892	69	6	3.1	3.1	NUM
fsr-3892	69	7	.	.	PUNCT
fsr-3892	69	8	mutual	mutual	ADJ
fsr-3892	69	9	fund	fund	NOUN
fsr-3892	69	10	indexes	index	VERB
fsr-3892	69	11	the	the	DET
fsr-3892	69	12	international	international	ADJ
fsr-3892	69	13	mutual	mutual	ADJ
fsr-3892	69	14	fund	fund	NOUN
fsr-3892	69	15	data	datum	NOUN
fsr-3892	69	16	used	use	VERB
fsr-3892	69	17	in	in	ADP
fsr-3892	69	18	this	this	DET
fsr-3892	69	19	analysis	analysis	NOUN
fsr-3892	69	20	is	be	AUX
fsr-3892	69	21	from	from	ADP
fsr-3892	69	22	morningstar	morningstar	NOUN
fsr-3892	69	23	and	and	CCONJ
fsr-3892	69	24	the	the	DET
fsr-3892	69	25	indexes	index	NOUN
fsr-3892	69	26	chosen	choose	VERB
fsr-3892	69	27	are	be	AUX
fsr-3892	69	28	the	the	DET
fsr-3892	69	29	morningstar	morningstar	NOUN
fsr-3892	69	30	aggregates	aggregate	NOUN
fsr-3892	69	31	that	that	PRON
fsr-3892	69	32	have	have	VERB
fsr-3892	69	33	a	a	DET
fsr-3892	69	34	majority	majority	NOUN
fsr-3892	69	35	of	of	ADP
fsr-3892	69	36	assets	asset	NOUN
fsr-3892	69	37	invested	invest	VERB
fsr-3892	69	38	in	in	ADP
fsr-3892	69	39	non	non	ADJ
fsr-3892	69	40	-	-	ADJ
fsr-3892	69	41	us	us	ADJ
fsr-3892	69	42	securities	security	NOUN
fsr-3892	69	43	.	.	PUNCT
fsr-3892	70	1	in	in	ADP
fsr-3892	70	2	addition	addition	NOUN
fsr-3892	70	3	,	,	PUNCT
fsr-3892	70	4	to	to	PART
fsr-3892	70	5	allow	allow	VERB
fsr-3892	70	6	comparability	comparability	NOUN
fsr-3892	70	7	across	across	ADP
fsr-3892	70	8	indexes	index	NOUN
fsr-3892	70	9	,	,	PUNCT
fsr-3892	70	10	the	the	DET
fsr-3892	70	11	index	index	NOUN
fsr-3892	70	12	had	have	VERB
fsr-3892	70	13	to	to	PART
fsr-3892	70	14	be	be	AUX
fsr-3892	70	15	in	in	ADP
fsr-3892	70	16	existence	existence	NOUN
fsr-3892	70	17	at	at	ADP
fsr-3892	70	18	the	the	DET
fsr-3892	70	19	end	end	NOUN
fsr-3892	70	20	of	of	ADP
fsr-3892	70	21	1976	1976	NUM
fsr-3892	70	22	.	.	PUNCT
fsr-3892	71	1	the	the	DET
fsr-3892	71	2	five	five	NUM
fsr-3892	71	3	non	non	ADJ
fsr-3892	71	4	-	-	ADJ
fsr-3892	71	5	us	us	ADJ
fsr-3892	71	6	indexes	index	NOUN
fsr-3892	71	7	examined	examine	VERB
fsr-3892	71	8	in	in	ADP
fsr-3892	71	9	this	this	DET
fsr-3892	71	10	paper	paper	NOUN
fsr-3892	71	11	are	be	AUX
fsr-3892	71	12	1	1	NUM
fsr-3892	71	13	)	)	PUNCT
fsr-3892	71	14	diversified	diversify	VERB
fsr-3892	71	15	emerging	emerge	VERB
fsr-3892	71	16	markets	market	NOUN
fsr-3892	71	17	,	,	PUNCT
fsr-3892	71	18	2	2	X
fsr-3892	71	19	)	)	PUNCT
fsr-3892	71	20	foreign	foreign	ADJ
fsr-3892	71	21	stock	stock	NOUN
fsr-3892	71	22	,	,	PUNCT
fsr-3892	71	23	3	3	X
fsr-3892	71	24	)	)	PUNCT
fsr-3892	71	25	multi	multi	ADJ
fsr-3892	71	26	-	-	ADJ
fsr-3892	71	27	asset	asset	ADJ
fsr-3892	71	28	global	global	ADJ
fsr-3892	71	29	,	,	PUNCT
fsr-3892	71	30	4	4	NUM
fsr-3892	71	31	)	)	PUNCT
fsr-3892	71	32	diversified	diversify	VERB
fsr-3892	71	33	asia	asia	PROPN
fsr-3892	71	34	/	/	SYM
fsr-3892	71	35	pacific	pacific	PROPN
fsr-3892	71	36	,	,	PUNCT
fsr-3892	71	37	and	and	CCONJ
fsr-3892	71	38	5	5	X
fsr-3892	71	39	)	)	PUNCT
fsr-3892	71	40	world	world	NOUN
fsr-3892	71	41	stock	stock	NOUN
fsr-3892	71	42	index	index	PROPN
fsr-3892	71	43	.	.	PUNCT
fsr-3892	72	1	for	for	ADP
fsr-3892	72	2	comparative	comparative	ADJ
fsr-3892	72	3	purposes	purpose	NOUN
fsr-3892	72	4	,	,	PUNCT
fsr-3892	72	5	two	two	NUM
fsr-3892	72	6	morningstar	morningstar	NOUN
fsr-3892	72	7	us	us	PROPN
fsr-3892	72	8	mutual	mutual	ADJ
fsr-3892	72	9	fund	fund	NOUN
fsr-3892	72	10	indexes	index	NOUN
fsr-3892	72	11	,	,	PUNCT
fsr-3892	72	12	us	we	PRON
fsr-3892	72	13	balanced	balance	VERB
fsr-3892	72	14	and	and	CCONJ
fsr-3892	72	15	us	us	PROPN
fsr-3892	72	16	growth	growth	NOUN
fsr-3892	72	17	&	&	CCONJ
fsr-3892	72	18	income	income	PROPN
fsr-3892	72	19	,	,	PUNCT
fsr-3892	72	20	are	be	AUX
fsr-3892	72	21	also	also	ADV
fsr-3892	72	22	examined	examine	VERB
fsr-3892	72	23	.	.	PUNCT
fsr-3892	73	1	although	although	SCONJ
fsr-3892	73	2	the	the	DET
fsr-3892	73	3	investment	investment	NOUN
fsr-3892	73	4	objective	objective	NOUN
fsr-3892	73	5	stated	state	VERB
fsr-3892	73	6	in	in	ADP
fsr-3892	73	7	a	a	DET
fsr-3892	73	8	fund	fund	NOUN
fsr-3892	73	9	’s	’s	PART
fsr-3892	73	10	prospectus	prospectus	NOUN
fsr-3892	73	11	may	may	AUX
fsr-3892	73	12	or	or	CCONJ
fsr-3892	73	13	may	may	AUX
fsr-3892	73	14	not	not	PART
fsr-3892	73	15	reflect	reflect	VERB
fsr-3892	73	16	how	how	SCONJ
fsr-3892	73	17	the	the	DET
fsr-3892	73	18	fund	fund	NOUN
fsr-3892	73	19	actually	actually	ADV
fsr-3892	73	20	invests	invest	NOUN
fsr-3892	73	21	,	,	PUNCT
fsr-3892	73	22	morningstar	morningstar	NOUN
fsr-3892	73	23	assigns	assign	VERB
fsr-3892	73	24	each	each	DET
fsr-3892	73	25	mutual	mutual	ADJ
fsr-3892	73	26	fund	fund	NOUN
fsr-3892	73	27	to	to	ADP
fsr-3892	73	28	a	a	DET
fsr-3892	73	29	category	category	NOUN
fsr-3892	73	30	based	base	VERB
fsr-3892	73	31	on	on	ADP
fsr-3892	73	32	the	the	DET
fsr-3892	73	33	underlying	underlie	VERB
fsr-3892	73	34	securities	security	NOUN
fsr-3892	73	35	in	in	ADP
fsr-3892	73	36	its	its	PRON
fsr-3892	73	37	portfolio	portfolio	NOUN
fsr-3892	73	38	.	.	PUNCT
fsr-3892	74	1	categories	category	NOUN
fsr-3892	74	2	are	be	AUX
fsr-3892	74	3	assigned	assign	VERB
fsr-3892	74	4	by	by	ADP
fsr-3892	74	5	morningstar	morningstar	NOUN
fsr-3892	74	6	based	base	VERB
fsr-3892	74	7	on	on	ADP
fsr-3892	74	8	the	the	DET
fsr-3892	74	9	average	average	NOUN
fsr-3892	74	10	of	of	ADP
fsr-3892	74	11	the	the	DET
fsr-3892	74	12	past	past	ADJ
fsr-3892	74	13	three	three	NUM
fsr-3892	74	14	years	year	NOUN
fsr-3892	74	15	’	'	PUNCT
fsr-3892	74	16	portfolio	portfolio	NOUN
fsr-3892	74	17	holdings	holding	NOUN
fsr-3892	74	18	.	.	PUNCT
fsr-3892	75	1	each	each	DET
fsr-3892	75	2	index	index	NOUN
fsr-3892	75	3	is	be	AUX
fsr-3892	75	4	a	a	DET
fsr-3892	75	5	simple	simple	ADJ
fsr-3892	75	6	arithmetic	arithmetic	ADJ
fsr-3892	75	7	average	average	NOUN
fsr-3892	75	8	of	of	ADP
fsr-3892	75	9	all	all	DET
fsr-3892	75	10	mutual	mutual	ADJ
fsr-3892	75	11	funds	fund	NOUN
fsr-3892	75	12	in	in	ADP
fsr-3892	75	13	the	the	DET
fsr-3892	75	14	category	category	NOUN
fsr-3892	75	15	in	in	ADP
fsr-3892	75	16	existence	existence	NOUN
fsr-3892	75	17	at	at	ADP
fsr-3892	75	18	that	that	DET
fsr-3892	75	19	time	time	NOUN
fsr-3892	75	20	.	.	PUNCT
fsr-3892	76	1	table	table	NOUN
fsr-3892	76	2	1	1	NUM
fsr-3892	76	3	provides	provide	VERB
fsr-3892	76	4	a	a	DET
fsr-3892	76	5	detailed	detailed	ADJ
fsr-3892	76	6	description	description	NOUN
fsr-3892	76	7	of	of	ADP
fsr-3892	76	8	each	each	PRON
fsr-3892	76	9	of	of	ADP
fsr-3892	76	10	the	the	DET
fsr-3892	76	11	indexes	index	NOUN
fsr-3892	76	12	examined	examine	VERB
fsr-3892	76	13	in	in	ADP
fsr-3892	76	14	this	this	DET
fsr-3892	76	15	analysis	analysis	NOUN
fsr-3892	76	16	.	.	PUNCT
fsr-3892	77	1	3.2	3.2	NUM
fsr-3892	77	2	.	.	PUNCT
fsr-3892	77	3	defining	define	VERB
fsr-3892	77	4	federal	federal	ADJ
fsr-3892	77	5	reserve	reserve	PROPN
fsr-3892	77	6	monetary	monetary	ADJ
fsr-3892	77	7	policy	policy	NOUN
fsr-3892	77	8	defining	define	VERB
fsr-3892	77	9	federal	federal	PROPN
fsr-3892	77	10	reserve	reserve	PROPN
fsr-3892	77	11	monetary	monetary	ADJ
fsr-3892	77	12	policy	policy	NOUN
fsr-3892	77	13	is	be	AUX
fsr-3892	77	14	controversial	controversial	ADJ
fsr-3892	77	15	.	.	PUNCT
fsr-3892	78	1	numerous	numerous	ADJ
fsr-3892	78	2	approaches	approach	NOUN
fsr-3892	78	3	to	to	ADP
fsr-3892	78	4	“	"	PUNCT
fsr-3892	78	5	fed	feed	VERB
fsr-3892	78	6	-	-	PUNCT
fsr-3892	78	7	watching	watching	NOUN
fsr-3892	78	8	”	"	PUNCT
fsr-3892	78	9	involve	involve	VERB
fsr-3892	78	10	monitoring	monitor	VERB
fsr-3892	78	11	money	money	NOUN
fsr-3892	78	12	supply	supply	NOUN
fsr-3892	78	13	,	,	PUNCT
fsr-3892	78	14	interest	interest	NOUN
fsr-3892	78	15	rates	rate	NOUN
fsr-3892	78	16	,	,	PUNCT
fsr-3892	78	17	bank	bank	NOUN
fsr-3892	78	18	reserves	reserve	NOUN
fsr-3892	78	19	,	,	PUNCT
fsr-3892	78	20	open	open	ADJ
fsr-3892	78	21	market	market	NOUN
fsr-3892	78	22	operations	operation	NOUN
fsr-3892	78	23	,	,	PUNCT
fsr-3892	78	24	and	and	CCONJ
fsr-3892	78	25	combinations	combination	NOUN
fsr-3892	78	26	of	of	ADP
fsr-3892	78	27	monetary	monetary	ADJ
fsr-3892	78	28	variables	variable	NOUN
fsr-3892	78	29	.	.	PUNCT
fsr-3892	79	1	however	however	ADV
fsr-3892	79	2	,	,	PUNCT
fsr-3892	79	3	operationally	operationally	ADV
fsr-3892	79	4	,	,	PUNCT
fsr-3892	79	5	many	many	ADJ
fsr-3892	79	6	of	of	ADP
fsr-3892	79	7	these	these	DET
fsr-3892	79	8	strategies	strategy	NOUN
fsr-3892	79	9	are	be	AUX
fsr-3892	79	10	not	not	PART
fsr-3892	79	11	conducive	conducive	ADJ
fsr-3892	79	12	to	to	ADP
fsr-3892	79	13	the	the	DET
fsr-3892	79	14	vast	vast	ADJ
fsr-3892	79	15	majority	majority	NOUN
fsr-3892	79	16	of	of	ADP
fsr-3892	79	17	investors	investor	NOUN
fsr-3892	79	18	,	,	PUNCT
fsr-3892	79	19	as	as	SCONJ
fsr-3892	79	20	the	the	DET
fsr-3892	79	21	methods	method	NOUN
fsr-3892	79	22	are	be	AUX
fsr-3892	79	23	quite	quite	ADV
fsr-3892	79	24	complex	complex	ADJ
fsr-3892	79	25	and	and	CCONJ
fsr-3892	79	26	require	require	VERB
fsr-3892	79	27	a	a	DET
fsr-3892	79	28	constant	constant	ADJ
fsr-3892	79	29	monitoring	monitoring	NOUN
fsr-3892	79	30	of	of	ADP
fsr-3892	79	31	economic	economic	ADJ
fsr-3892	79	32	variables	variable	NOUN
fsr-3892	79	33	(	(	PUNCT
fsr-3892	79	34	see	see	INTJ
fsr-3892	79	35	jones	jones	PROPN
fsr-3892	79	36	,	,	PUNCT
fsr-3892	79	37	1989	1989	NUM
fsr-3892	79	38	for	for	ADP
fsr-3892	79	39	a	a	DET
fsr-3892	79	40	detailed	detailed	ADJ
fsr-3892	79	41	description	description	NOUN
fsr-3892	79	42	of	of	ADP
fsr-3892	79	43	various	various	ADJ
fsr-3892	79	44	approaches	approach	NOUN
fsr-3892	79	45	)	)	PUNCT
fsr-3892	79	46	.	.	PUNCT
fsr-3892	80	1	the	the	DET
fsr-3892	80	2	simple	simple	ADJ
fsr-3892	80	3	and	and	CCONJ
fsr-3892	80	4	unambiguous	unambiguous	ADJ
fsr-3892	80	5	binary	binary	ADJ
fsr-3892	80	6	definition	definition	NOUN
fsr-3892	80	7	of	of	ADP
fsr-3892	80	8	fed	fed	PROPN
fsr-3892	80	9	policy	policy	NOUN
fsr-3892	80	10	utilized	utilize	VERB
fsr-3892	80	11	in	in	ADP
fsr-3892	80	12	this	this	DET
fsr-3892	80	13	analysis	analysis	NOUN
fsr-3892	80	14	is	be	AUX
fsr-3892	80	15	consistent	consistent	ADJ
fsr-3892	80	16	with	with	ADP
fsr-3892	80	17	conover	conover	PROPN
fsr-3892	80	18	,	,	PUNCT
fsr-3892	80	19	jensen	jensen	PROPN
fsr-3892	80	20	,	,	PUNCT
fsr-3892	80	21	&	&	CCONJ
fsr-3892	80	22	johnson	johnson	PROPN
fsr-3892	80	23	(	(	PUNCT
fsr-3892	80	24	1999	1999	NUM
fsr-3892	80	25	)	)	PUNCT
fsr-3892	80	26	,	,	PUNCT
fsr-3892	80	27	202	202	NUM
fsr-3892	80	28	r.r	r.r	PROPN
fsr-3892	80	29	.	.	PROPN
fsr-3892	80	30	johnson	johnson	PROPN
fsr-3892	80	31	et	et	PROPN
fsr-3892	80	32	al	al	PROPN
fsr-3892	80	33	.	.	PUNCT
fsr-3892	80	34	/	/	SYM
fsr-3892	80	35	financial	financial	ADJ
fsr-3892	80	36	services	service	NOUN
fsr-3892	80	37	review	review	VERB
fsr-3892	80	38	8	8	NUM
fsr-3892	80	39	(	(	PUNCT
fsr-3892	80	40	1999	1999	NUM
fsr-3892	80	41	)	)	PUNCT
fsr-3892	81	1	199–210	199–210	NUM
fsr-3892	81	2	jensen	jensen	PROPN
fsr-3892	81	3	,	,	PUNCT
fsr-3892	81	4	mercer	mercer	PROPN
fsr-3892	81	5	,	,	PUNCT
fsr-3892	81	6	&	&	CCONJ
fsr-3892	81	7	johnson	johnson	PROPN
fsr-3892	81	8	(	(	PUNCT
fsr-3892	81	9	1996	1996	NUM
fsr-3892	81	10	)	)	PUNCT
fsr-3892	81	11	,	,	PUNCT
fsr-3892	81	12	booth	booth	NOUN
fsr-3892	81	13	&	&	CCONJ
fsr-3892	81	14	booth	booth	PROPN
fsr-3892	81	15	(	(	PUNCT
fsr-3892	81	16	1997	1997	NUM
fsr-3892	81	17	)	)	PUNCT
fsr-3892	81	18	and	and	CCONJ
fsr-3892	81	19	prather	prather	PROPN
fsr-3892	81	20	&	&	CCONJ
fsr-3892	81	21	bertin	bertin	PROPN
fsr-3892	81	22	(	(	PUNCT
fsr-3892	81	23	1997	1997	NUM
fsr-3892	81	24	)	)	PUNCT
fsr-3892	81	25	and	and	CCONJ
fsr-3892	81	26	employs	employ	VERB
fsr-3892	81	27	the	the	DET
fsr-3892	81	28	federal	federal	PROPN
fsr-3892	81	29	reserve	reserve	PROPN
fsr-3892	81	30	discount	discount	NOUN
fsr-3892	81	31	rate	rate	NOUN
fsr-3892	81	32	.	.	PUNCT
fsr-3892	82	1	textbook	textbook	NOUN
fsr-3892	82	2	discussions	discussion	NOUN
fsr-3892	82	3	of	of	ADP
fsr-3892	82	4	monetary	monetary	ADJ
fsr-3892	82	5	policy	policy	NOUN
fsr-3892	82	6	treat	treat	VERB
fsr-3892	82	7	the	the	DET
fsr-3892	82	8	discount	discount	NOUN
fsr-3892	82	9	rate	rate	NOUN
fsr-3892	82	10	as	as	ADP
fsr-3892	82	11	one	one	NUM
fsr-3892	82	12	of	of	ADP
fsr-3892	82	13	the	the	DET
fsr-3892	82	14	federal	federal	PROPN
fsr-3892	82	15	reserve	reserve	PROPN
fsr-3892	82	16	’s	’s	PART
fsr-3892	82	17	three	three	NUM
fsr-3892	82	18	principal	principal	ADJ
fsr-3892	82	19	policy	policy	NOUN
fsr-3892	82	20	tools	tool	NOUN
fsr-3892	82	21	,	,	PUNCT
fsr-3892	82	22	the	the	DET
fsr-3892	82	23	others	other	NOUN
fsr-3892	82	24	being	be	AUX
fsr-3892	82	25	reserve	reserve	NOUN
fsr-3892	82	26	requirements	requirement	NOUN
fsr-3892	82	27	and	and	CCONJ
fsr-3892	82	28	open	open	ADJ
fsr-3892	82	29	market	market	NOUN
fsr-3892	82	30	operations	operation	NOUN
fsr-3892	82	31	.	.	PUNCT
fsr-3892	83	1	technically	technically	ADV
fsr-3892	83	2	,	,	PUNCT
fsr-3892	83	3	the	the	DET
fsr-3892	83	4	discount	discount	NOUN
fsr-3892	83	5	rate	rate	NOUN
fsr-3892	83	6	is	be	AUX
fsr-3892	83	7	the	the	DET
fsr-3892	83	8	rate	rate	NOUN
fsr-3892	83	9	at	at	ADP
fsr-3892	83	10	which	which	PRON
fsr-3892	83	11	member	member	NOUN
fsr-3892	83	12	institutions	institution	NOUN
fsr-3892	83	13	can	can	AUX
fsr-3892	83	14	borrow	borrow	VERB
fsr-3892	83	15	reserves	reserve	NOUN
fsr-3892	83	16	from	from	ADP
fsr-3892	83	17	the	the	DET
fsr-3892	83	18	federal	federal	PROPN
fsr-3892	83	19	reserve	reserve	PROPN
fsr-3892	83	20	.	.	PUNCT
fsr-3892	84	1	in	in	ADP
fsr-3892	84	2	practice	practice	NOUN
fsr-3892	84	3	,	,	PUNCT
fsr-3892	84	4	however	however	ADV
fsr-3892	84	5	,	,	PUNCT
fsr-3892	84	6	discount	discount	NOUN
fsr-3892	84	7	rate	rate	NOUN
fsr-3892	84	8	changes	change	NOUN
fsr-3892	84	9	are	be	AUX
fsr-3892	84	10	often	often	ADV
fsr-3892	84	11	interpreted	interpret	VERB
fsr-3892	84	12	as	as	ADP
fsr-3892	84	13	signals	signal	NOUN
fsr-3892	84	14	of	of	ADP
fsr-3892	84	15	the	the	DET
fsr-3892	84	16	future	future	ADJ
fsr-3892	84	17	course	course	NOUN
fsr-3892	84	18	of	of	ADP
fsr-3892	84	19	monetary	monetary	ADJ
fsr-3892	84	20	policy	policy	NOUN
fsr-3892	84	21	.	.	PUNCT
fsr-3892	85	1	previous	previous	ADJ
fsr-3892	85	2	researchers	researcher	NOUN
fsr-3892	85	3	note	note	VERB
fsr-3892	85	4	that	that	SCONJ
fsr-3892	85	5	discount	discount	NOUN
fsr-3892	85	6	rate	rate	NOUN
fsr-3892	85	7	changes	change	NOUN
fsr-3892	85	8	occur	occur	VERB
fsr-3892	85	9	only	only	ADV
fsr-3892	85	10	at	at	ADP
fsr-3892	85	11	substantial	substantial	ADJ
fsr-3892	85	12	intervals	interval	NOUN
fsr-3892	85	13	,	,	PUNCT
fsr-3892	85	14	they	they	PRON
fsr-3892	85	15	represent	represent	VERB
fsr-3892	85	16	a	a	DET
fsr-3892	85	17	rather	rather	ADV
fsr-3892	85	18	discontinuous	discontinuous	ADJ
fsr-3892	85	19	instrument	instrument	NOUN
fsr-3892	85	20	of	of	ADP
fsr-3892	85	21	monetary	monetary	ADJ
fsr-3892	85	22	policy	policy	NOUN
fsr-3892	85	23	,	,	PUNCT
fsr-3892	85	24	and	and	CCONJ
fsr-3892	85	25	are	be	AUX
fsr-3892	85	26	established	establish	VERB
fsr-3892	85	27	by	by	ADP
fsr-3892	85	28	a	a	DET
fsr-3892	85	29	public	public	ADJ
fsr-3892	85	30	body	body	NOUN
fsr-3892	85	31	having	have	VERB
fsr-3892	85	32	special	special	ADJ
fsr-3892	85	33	information	information	NOUN
fsr-3892	85	34	and	and	CCONJ
fsr-3892	85	35	competence	competence	NOUN
fsr-3892	85	36	to	to	PART
fsr-3892	85	37	judge	judge	VERB
fsr-3892	85	38	whether	whether	SCONJ
fsr-3892	85	39	changes	change	NOUN
fsr-3892	85	40	in	in	ADP
fsr-3892	85	41	bank	bank	NOUN
fsr-3892	85	42	credit	credit	NOUN
fsr-3892	85	43	and	and	CCONJ
fsr-3892	85	44	money	money	NOUN
fsr-3892	85	45	is	be	AUX
fsr-3892	85	46	consistent	consistent	ADJ
fsr-3892	85	47	with	with	ADP
fsr-3892	85	48	the	the	DET
fsr-3892	85	49	economy	economy	NOUN
fsr-3892	85	50	’s	’s	PART
fsr-3892	85	51	cash	cash	NOUN
fsr-3892	85	52	needs	need	NOUN
fsr-3892	85	53	.	.	PUNCT
fsr-3892	86	1	thus	thus	ADV
fsr-3892	86	2	,	,	PUNCT
fsr-3892	86	3	discount	discount	NOUN
fsr-3892	86	4	rate	rate	NOUN
fsr-3892	86	5	changes	change	NOUN
fsr-3892	86	6	may	may	AUX
fsr-3892	86	7	be	be	AUX
fsr-3892	86	8	viewed	view	VERB
fsr-3892	86	9	as	as	ADP
fsr-3892	86	10	precursors	precursor	NOUN
fsr-3892	86	11	of	of	ADP
fsr-3892	86	12	future	future	ADJ
fsr-3892	86	13	fed	feed	VERB
fsr-3892	86	14	monetary	monetary	ADJ
fsr-3892	86	15	policy	policy	NOUN
fsr-3892	86	16	.	.	PUNCT
fsr-3892	87	1	we	we	PRON
fsr-3892	87	2	classify	classify	VERB
fsr-3892	87	3	the	the	DET
fsr-3892	87	4	monetary	monetary	ADJ
fsr-3892	87	5	environment	environment	NOUN
fsr-3892	87	6	as	as	ADP
fsr-3892	87	7	either	either	CCONJ
fsr-3892	87	8	expansive	expansive	ADJ
fsr-3892	87	9	or	or	CCONJ
fsr-3892	87	10	restrictive	restrictive	ADJ
fsr-3892	87	11	based	base	VERB
fsr-3892	87	12	on	on	ADP
fsr-3892	87	13	the	the	DET
fsr-3892	87	14	most	most	ADV
fsr-3892	87	15	recent	recent	ADJ
fsr-3892	87	16	discount	discount	NOUN
fsr-3892	87	17	rate	rate	NOUN
fsr-3892	87	18	change	change	NOUN
fsr-3892	87	19	.	.	PUNCT
fsr-3892	88	1	the	the	DET
fsr-3892	88	2	monetary	monetary	ADJ
fsr-3892	88	3	environment	environment	NOUN
fsr-3892	88	4	remains	remain	VERB
fsr-3892	88	5	the	the	DET
fsr-3892	88	6	same	same	ADJ
fsr-3892	88	7	until	until	SCONJ
fsr-3892	88	8	the	the	DET
fsr-3892	88	9	discount	discount	NOUN
fsr-3892	88	10	rate	rate	NOUN
fsr-3892	88	11	is	be	AUX
fsr-3892	88	12	changed	change	VERB
fsr-3892	88	13	in	in	ADP
fsr-3892	88	14	the	the	DET
fsr-3892	88	15	opposite	opposite	ADJ
fsr-3892	88	16	direction	direction	NOUN
fsr-3892	88	17	,	,	PUNCT
fsr-3892	88	18	because	because	SCONJ
fsr-3892	88	19	the	the	DET
fsr-3892	88	20	central	central	ADJ
fsr-3892	88	21	bank	bank	NOUN
fsr-3892	88	22	is	be	AUX
fsr-3892	88	23	assumed	assume	VERB
fsr-3892	88	24	to	to	PART
fsr-3892	88	25	be	be	AUX
fsr-3892	88	26	operating	operate	VERB
fsr-3892	88	27	under	under	ADP
fsr-3892	88	28	the	the	DET
fsr-3892	88	29	same	same	ADJ
fsr-3892	88	30	general	general	ADJ
fsr-3892	88	31	policy	policy	NOUN
fsr-3892	88	32	until	until	SCONJ
fsr-3892	88	33	the	the	DET
fsr-3892	88	34	discount	discount	NOUN
fsr-3892	88	35	rate	rate	NOUN
fsr-3892	88	36	change	change	NOUN
fsr-3892	88	37	is	be	AUX
fsr-3892	88	38	reversed	reverse	VERB
fsr-3892	88	39	.	.	PUNCT
fsr-3892	89	1	the	the	DET
fsr-3892	89	2	period	period	NOUN
fsr-3892	89	3	following	follow	VERB
fsr-3892	89	4	a	a	DET
fsr-3892	89	5	decrease	decrease	NOUN
fsr-3892	89	6	in	in	ADP
fsr-3892	89	7	the	the	DET
fsr-3892	89	8	discount	discount	NOUN
fsr-3892	89	9	rate	rate	NOUN
fsr-3892	89	10	is	be	AUX
fsr-3892	89	11	classified	classify	VERB
fsr-3892	89	12	as	as	ADP
fsr-3892	89	13	expansive	expansive	ADJ
fsr-3892	89	14	.	.	PUNCT
fsr-3892	90	1	further	further	ADJ
fsr-3892	90	2	discount	discount	NOUN
fsr-3892	90	3	rate	rate	NOUN
fsr-3892	90	4	decreases	decrease	NOUN
fsr-3892	90	5	do	do	AUX
fsr-3892	90	6	not	not	PART
fsr-3892	90	7	affect	affect	VERB
fsr-3892	90	8	the	the	DET
fsr-3892	90	9	classification	classification	NOUN
fsr-3892	90	10	of	of	ADP
fsr-3892	90	11	the	the	DET
fsr-3892	90	12	monetary	monetary	ADJ
fsr-3892	90	13	environment	environment	NOUN
fsr-3892	90	14	.	.	PUNCT
fsr-3892	91	1	likewise	likewise	ADV
fsr-3892	91	2	,	,	PUNCT
fsr-3892	91	3	restrictive	restrictive	ADJ
fsr-3892	91	4	monetary	monetary	ADJ
fsr-3892	91	5	environments	environment	NOUN
fsr-3892	91	6	begin	begin	VERB
fsr-3892	91	7	when	when	SCONJ
fsr-3892	91	8	the	the	DET
fsr-3892	91	9	discount	discount	NOUN
fsr-3892	91	10	rate	rate	NOUN
fsr-3892	91	11	first	first	ADJ
fsr-3892	91	12	increases	increase	NOUN
fsr-3892	91	13	and	and	CCONJ
fsr-3892	91	14	end	end	VERB
fsr-3892	91	15	when	when	SCONJ
fsr-3892	91	16	the	the	DET
fsr-3892	91	17	table	table	NOUN
fsr-3892	91	18	1	1	NUM
fsr-3892	91	19	description	description	NOUN
fsr-3892	91	20	of	of	ADP
fsr-3892	91	21	the	the	DET
fsr-3892	91	22	morningstar	morningstar	PROPN
fsr-3892	91	23	international	international	PROPN
fsr-3892	91	24	indexesa	indexesa	PROPN
fsr-3892	91	25	morningstar	morningstar	PROPN
fsr-3892	91	26	index	index	PROPN
fsr-3892	91	27	description	description	NOUN
fsr-3892	91	28	diversified	diversify	VERB
fsr-3892	91	29	emerging	emerge	VERB
fsr-3892	91	30	markets	market	NOUN
fsr-3892	91	31	an	an	DET
fsr-3892	91	32	equity	equity	NOUN
fsr-3892	91	33	fund	fund	NOUN
fsr-3892	91	34	with	with	ADP
fsr-3892	91	35	at	at	ADV
fsr-3892	91	36	least	least	ADV
fsr-3892	91	37	50	50	NUM
fsr-3892	91	38	%	%	NOUN
fsr-3892	91	39	of	of	ADP
fsr-3892	91	40	stocks	stock	NOUN
fsr-3892	91	41	invested	invest	VERB
fsr-3892	91	42	in	in	ADP
fsr-3892	91	43	emerging	emerge	VERB
fsr-3892	91	44	markets	market	NOUN
fsr-3892	91	45	.	.	PUNCT
fsr-3892	92	1	foreign	foreign	ADJ
fsr-3892	92	2	an	an	DET
fsr-3892	92	3	international	international	ADJ
fsr-3892	92	4	equity	equity	NOUN
fsr-3892	92	5	fund	fund	NOUN
fsr-3892	92	6	having	have	VERB
fsr-3892	92	7	no	no	DET
fsr-3892	92	8	more	more	ADJ
fsr-3892	92	9	than	than	ADP
fsr-3892	92	10	10	10	NUM
fsr-3892	92	11	%	%	NOUN
fsr-3892	92	12	of	of	ADP
fsr-3892	92	13	stocks	stock	NOUN
fsr-3892	92	14	invested	invest	VERB
fsr-3892	92	15	in	in	ADP
fsr-3892	92	16	the	the	DET
fsr-3892	92	17	united	united	PROPN
fsr-3892	92	18	states	states	PROPN
fsr-3892	92	19	.	.	PUNCT
fsr-3892	93	1	multi	multi	ADJ
fsr-3892	93	2	-	-	ADJ
fsr-3892	93	3	asset	asset	ADJ
fsr-3892	93	4	global	global	ADJ
fsr-3892	93	5	funds	fund	NOUN
fsr-3892	93	6	in	in	ADP
fsr-3892	93	7	this	this	DET
fsr-3892	93	8	objective	objective	NOUN
fsr-3892	93	9	seek	seek	VERB
fsr-3892	93	10	total	total	ADJ
fsr-3892	93	11	returns	return	NOUN
fsr-3892	93	12	by	by	ADP
fsr-3892	93	13	investing	invest	VERB
fsr-3892	93	14	in	in	ADP
fsr-3892	93	15	varying	vary	VERB
fsr-3892	93	16	combinations	combination	NOUN
fsr-3892	93	17	of	of	ADP
fsr-3892	93	18	equities	equity	NOUN
fsr-3892	93	19	,	,	PUNCT
fsr-3892	93	20	fixed	fix	VERB
fsr-3892	93	21	income	income	NOUN
fsr-3892	93	22	securities	security	NOUN
fsr-3892	93	23	,	,	PUNCT
fsr-3892	93	24	and	and	CCONJ
fsr-3892	93	25	other	other	ADJ
fsr-3892	93	26	asset	asset	NOUN
fsr-3892	93	27	classes	class	NOUN
fsr-3892	93	28	.	.	PUNCT
fsr-3892	94	1	these	these	DET
fsr-3892	94	2	funds	fund	NOUN
fsr-3892	94	3	may	may	AUX
fsr-3892	94	4	invest	invest	VERB
fsr-3892	94	5	a	a	DET
fsr-3892	94	6	significant	significant	ADJ
fsr-3892	94	7	portion	portion	NOUN
fsr-3892	94	8	of	of	ADP
fsr-3892	94	9	assets	asset	NOUN
fsr-3892	94	10	in	in	ADP
fsr-3892	94	11	securities	security	NOUN
fsr-3892	94	12	of	of	ADP
fsr-3892	94	13	foreign	foreign	ADJ
fsr-3892	94	14	issuers	issuer	NOUN
fsr-3892	94	15	.	.	PUNCT
fsr-3892	95	1	diversified	diversify	VERB
fsr-3892	95	2	asia	asia	PROPN
fsr-3892	95	3	/	/	SYM
fsr-3892	95	4	pacific	pacific	PROPN
fsr-3892	95	5	an	an	DET
fsr-3892	95	6	equity	equity	NOUN
fsr-3892	95	7	fund	fund	NOUN
fsr-3892	95	8	with	with	ADP
fsr-3892	95	9	at	at	ADV
fsr-3892	95	10	least	least	ADV
fsr-3892	95	11	65	65	NUM
fsr-3892	95	12	%	%	NOUN
fsr-3892	95	13	of	of	ADP
fsr-3892	95	14	stocks	stock	NOUN
fsr-3892	95	15	invested	invest	VERB
fsr-3892	95	16	in	in	ADP
fsr-3892	95	17	pacific	pacific	ADJ
fsr-3892	95	18	countries	country	NOUN
fsr-3892	95	19	with	with	ADP
fsr-3892	95	20	at	at	ADV
fsr-3892	95	21	least	least	ADJ
fsr-3892	95	22	an	an	DET
fsr-3892	95	23	additional	additional	ADJ
fsr-3892	95	24	10	10	NUM
fsr-3892	95	25	%	%	NOUN
fsr-3892	95	26	of	of	ADP
fsr-3892	95	27	stocks	stock	NOUN
fsr-3892	95	28	invested	invest	VERB
fsr-3892	95	29	in	in	ADP
fsr-3892	95	30	japan	japan	PROPN
fsr-3892	95	31	.	.	PUNCT
fsr-3892	96	1	world	world	PROPN
fsr-3892	96	2	an	an	DET
fsr-3892	96	3	international	international	ADJ
fsr-3892	96	4	fund	fund	NOUN
fsr-3892	96	5	having	have	VERB
fsr-3892	96	6	more	more	ADJ
fsr-3892	96	7	than	than	ADP
fsr-3892	96	8	10	10	NUM
fsr-3892	96	9	%	%	NOUN
fsr-3892	96	10	of	of	ADP
fsr-3892	96	11	stocks	stock	NOUN
fsr-3892	96	12	invested	invest	VERB
fsr-3892	96	13	in	in	ADP
fsr-3892	96	14	the	the	DET
fsr-3892	96	15	united	united	PROPN
fsr-3892	96	16	states	states	PROPN
fsr-3892	96	17	.	.	PUNCT
fsr-3892	97	1	us	we	PRON
fsr-3892	97	2	balanced	balance	VERB
fsr-3892	97	3	seek	seek	VERB
fsr-3892	97	4	both	both	CCONJ
fsr-3892	97	5	income	income	NOUN
fsr-3892	97	6	and	and	CCONJ
fsr-3892	97	7	capital	capital	NOUN
fsr-3892	97	8	appreciation	appreciation	NOUN
fsr-3892	97	9	by	by	ADP
fsr-3892	97	10	investing	invest	VERB
fsr-3892	97	11	in	in	ADP
fsr-3892	97	12	a	a	DET
fsr-3892	97	13	generally	generally	ADV
fsr-3892	97	14	fixed	fix	VERB
fsr-3892	97	15	combination	combination	NOUN
fsr-3892	97	16	of	of	ADP
fsr-3892	97	17	stocks	stock	NOUN
fsr-3892	97	18	and	and	CCONJ
fsr-3892	97	19	bonds	bond	NOUN
fsr-3892	97	20	.	.	PUNCT
fsr-3892	98	1	these	these	DET
fsr-3892	98	2	funds	fund	NOUN
fsr-3892	98	3	generally	generally	ADV
fsr-3892	98	4	hold	hold	VERB
fsr-3892	98	5	a	a	DET
fsr-3892	98	6	minimum	minimum	NOUN
fsr-3892	98	7	of	of	ADP
fsr-3892	98	8	25	25	NUM
fsr-3892	98	9	%	%	NOUN
fsr-3892	98	10	of	of	ADP
fsr-3892	98	11	their	their	PRON
fsr-3892	98	12	assets	asset	NOUN
fsr-3892	98	13	in	in	ADP
fsr-3892	98	14	fixed	fix	VERB
fsr-3892	98	15	-	-	PUNCT
fsr-3892	98	16	income	income	NOUN
fsr-3892	98	17	securities	security	NOUN
fsr-3892	98	18	at	at	ADP
fsr-3892	98	19	all	all	DET
fsr-3892	98	20	times	time	NOUN
fsr-3892	98	21	.	.	PUNCT
fsr-3892	99	1	us	us	PROPN
fsr-3892	99	2	growth	growth	PROPN
fsr-3892	99	3	&	&	CCONJ
fsr-3892	99	4	income	income	NOUN
fsr-3892	99	5	growth	growth	NOUN
fsr-3892	99	6	of	of	ADP
fsr-3892	99	7	capital	capital	NOUN
fsr-3892	99	8	and	and	CCONJ
fsr-3892	99	9	current	current	ADJ
fsr-3892	99	10	income	income	NOUN
fsr-3892	99	11	are	be	AUX
fsr-3892	99	12	nearequal	nearequal	ADJ
fsr-3892	99	13	objectives	objective	NOUN
fsr-3892	99	14	.	.	PUNCT
fsr-3892	100	1	investments	investment	NOUN
fsr-3892	100	2	are	be	AUX
fsr-3892	100	3	typically	typically	ADV
fsr-3892	100	4	selected	select	VERB
fsr-3892	100	5	for	for	ADP
fsr-3892	100	6	both	both	PRON
fsr-3892	100	7	appreciation	appreciation	NOUN
fsr-3892	100	8	potential	potential	NOUN
fsr-3892	100	9	and	and	CCONJ
fsr-3892	100	10	dividend	dividend	NOUN
fsr-3892	100	11	-	-	PUNCT
fsr-3892	100	12	paying	pay	VERB
fsr-3892	100	13	ability	ability	NOUN
fsr-3892	100	14	.	.	PUNCT
fsr-3892	101	1	a	a	DET
fsr-3892	101	2	source	source	NOUN
fsr-3892	101	3	:	:	PUNCT
fsr-3892	101	4	morningstar	morningstar	PROPN
fsr-3892	101	5	mutual	mutual	ADJ
fsr-3892	101	6	fund	fund	PROPN
fsr-3892	101	7	500	500	NUM
fsr-3892	101	8	,	,	PUNCT
fsr-3892	101	9	1998–1999	1998–1999	NUM
fsr-3892	101	10	edition	edition	NOUN
fsr-3892	101	11	,	,	PUNCT
fsr-3892	101	12	chicago	chicago	PROPN
fsr-3892	101	13	,	,	PUNCT
fsr-3892	101	14	morningstar	morningstar	NOUN
fsr-3892	101	15	.	.	PUNCT
fsr-3892	102	1	203r.r	203r.r	X
fsr-3892	102	2	.	.	PUNCT
fsr-3892	103	1	johnson	johnson	PROPN
fsr-3892	103	2	et	et	PROPN
fsr-3892	103	3	al	al	PROPN
fsr-3892	103	4	.	.	PUNCT
fsr-3892	103	5	/	/	SYM
fsr-3892	103	6	financial	financial	ADJ
fsr-3892	103	7	services	service	NOUN
fsr-3892	103	8	review	review	VERB
fsr-3892	103	9	8	8	NUM
fsr-3892	103	10	(	(	PUNCT
fsr-3892	103	11	1999	1999	NUM
fsr-3892	103	12	)	)	PUNCT
fsr-3892	104	1	199–210	199–210	NUM
fsr-3892	104	2	discount	discount	NOUN
fsr-3892	104	3	rate	rate	NOUN
fsr-3892	104	4	is	be	AUX
fsr-3892	104	5	decreased	decrease	VERB
fsr-3892	104	6	.	.	PUNCT
fsr-3892	105	1	jensen	jensen	PROPN
fsr-3892	105	2	,	,	PUNCT
fsr-3892	105	3	mercer	mercer	PROPN
fsr-3892	105	4	,	,	PUNCT
fsr-3892	105	5	&	&	CCONJ
fsr-3892	105	6	johnson	johnson	PROPN
fsr-3892	105	7	(	(	PUNCT
fsr-3892	105	8	1996	1996	NUM
fsr-3892	105	9	)	)	PUNCT
fsr-3892	105	10	employ	employ	VERB
fsr-3892	105	11	this	this	DET
fsr-3892	105	12	classification	classification	NOUN
fsr-3892	105	13	scheme	scheme	NOUN
fsr-3892	105	14	and	and	CCONJ
fsr-3892	105	15	report	report	VERB
fsr-3892	105	16	empirical	empirical	ADJ
fsr-3892	105	17	evidence	evidence	NOUN
fsr-3892	105	18	demonstrating	demonstrate	VERB
fsr-3892	105	19	that	that	SCONJ
fsr-3892	105	20	the	the	DET
fsr-3892	105	21	levels	level	NOUN
fsr-3892	105	22	of	of	ADP
fsr-3892	105	23	,	,	PUNCT
fsr-3892	105	24	as	as	ADV
fsr-3892	105	25	well	well	ADV
fsr-3892	105	26	as	as	ADP
fsr-3892	105	27	changes	change	NOUN
fsr-3892	105	28	in	in	ADP
fsr-3892	105	29	,	,	PUNCT
fsr-3892	105	30	the	the	DET
fsr-3892	105	31	federal	federal	ADJ
fsr-3892	105	32	funds	fund	NOUN
fsr-3892	105	33	premium	premium	NOUN
fsr-3892	105	34	,	,	PUNCT
fsr-3892	105	35	monetary	monetary	ADJ
fsr-3892	105	36	aggregates	aggregate	NOUN
fsr-3892	105	37	,	,	PUNCT
fsr-3892	105	38	and	and	CCONJ
fsr-3892	105	39	reserve	reserve	NOUN
fsr-3892	105	40	aggregates	aggregate	NOUN
fsr-3892	105	41	differ	differ	VERB
fsr-3892	105	42	significantly	significantly	ADV
fsr-3892	105	43	across	across	ADP
fsr-3892	105	44	the	the	DET
fsr-3892	105	45	defined	define	VERB
fsr-3892	105	46	environments	environment	NOUN
fsr-3892	105	47	,	,	PUNCT
fsr-3892	105	48	thus	thus	ADV
fsr-3892	105	49	supporting	support	VERB
fsr-3892	105	50	the	the	DET
fsr-3892	105	51	view	view	NOUN
fsr-3892	105	52	that	that	SCONJ
fsr-3892	105	53	this	this	DET
fsr-3892	105	54	classification	classification	NOUN
fsr-3892	105	55	technique	technique	NOUN
fsr-3892	105	56	effectively	effectively	ADV
fsr-3892	105	57	differentiates	differentiate	VERB
fsr-3892	105	58	monetary	monetary	ADJ
fsr-3892	105	59	conditions	condition	NOUN
fsr-3892	105	60	.	.	PUNCT
fsr-3892	106	1	although	although	SCONJ
fsr-3892	106	2	this	this	DET
fsr-3892	106	3	classification	classification	NOUN
fsr-3892	106	4	technique	technique	NOUN
fsr-3892	106	5	has	have	AUX
fsr-3892	106	6	been	be	AUX
fsr-3892	106	7	effectively	effectively	ADV
fsr-3892	106	8	employed	employ	VERB
fsr-3892	106	9	to	to	PART
fsr-3892	106	10	differentiate	differentiate	VERB
fsr-3892	106	11	fundamentally	fundamentally	ADV
fsr-3892	106	12	different	different	ADJ
fsr-3892	106	13	monetary	monetary	ADJ
fsr-3892	106	14	conditions	condition	NOUN
fsr-3892	106	15	,	,	PUNCT
fsr-3892	106	16	the	the	DET
fsr-3892	106	17	procedure	procedure	NOUN
fsr-3892	106	18	is	be	AUX
fsr-3892	106	19	not	not	PART
fsr-3892	106	20	advocated	advocate	VERB
fsr-3892	106	21	as	as	ADP
fsr-3892	106	22	the	the	DET
fsr-3892	106	23	best	good	ADJ
fsr-3892	106	24	technique	technique	NOUN
fsr-3892	106	25	for	for	ADP
fsr-3892	106	26	identifying	identify	VERB
fsr-3892	106	27	minor	minor	ADJ
fsr-3892	106	28	changes	change	NOUN
fsr-3892	106	29	in	in	ADP
fsr-3892	106	30	the	the	DET
fsr-3892	106	31	stringency	stringency	NOUN
fsr-3892	106	32	of	of	ADP
fsr-3892	106	33	monetary	monetary	ADJ
fsr-3892	106	34	policy	policy	NOUN
fsr-3892	106	35	.	.	PUNCT
fsr-3892	107	1	a	a	DET
fsr-3892	107	2	more	more	ADV
fsr-3892	107	3	refined	refined	ADJ
fsr-3892	107	4	approach	approach	NOUN
fsr-3892	107	5	that	that	PRON
fsr-3892	107	6	adjusts	adjust	VERB
fsr-3892	107	7	more	more	ADV
fsr-3892	107	8	frequently	frequently	ADV
fsr-3892	107	9	would	would	AUX
fsr-3892	107	10	be	be	AUX
fsr-3892	107	11	required	require	VERB
fsr-3892	107	12	to	to	PART
fsr-3892	107	13	accomplish	accomplish	VERB
fsr-3892	107	14	this	this	DET
fsr-3892	107	15	task	task	NOUN
fsr-3892	107	16	(	(	PUNCT
fsr-3892	107	17	see	see	NOUN
fsr-3892	107	18	thorbecke	thorbecke	NOUN
fsr-3892	107	19	,	,	PUNCT
fsr-3892	107	20	1997	1997	NUM
fsr-3892	107	21	and	and	CCONJ
fsr-3892	107	22	patelis	pateli	VERB
fsr-3892	107	23	,	,	PUNCT
fsr-3892	107	24	1997	1997	NUM
fsr-3892	107	25	for	for	ADP
fsr-3892	107	26	examples	example	NOUN
fsr-3892	107	27	)	)	PUNCT
fsr-3892	107	28	.	.	PUNCT
fsr-3892	108	1	use	use	NOUN
fsr-3892	108	2	of	of	ADP
fsr-3892	108	3	such	such	ADJ
fsr-3892	108	4	measures	measure	NOUN
fsr-3892	108	5	,	,	PUNCT
fsr-3892	108	6	however	however	ADV
fsr-3892	108	7	,	,	PUNCT
fsr-3892	108	8	requires	require	VERB
fsr-3892	108	9	more	more	ADJ
fsr-3892	108	10	frequent	frequent	ADJ
fsr-3892	108	11	trading	trading	NOUN
fsr-3892	108	12	,	,	PUNCT
fsr-3892	108	13	more	more	ADV
fsr-3892	108	14	subjective	subjective	ADJ
fsr-3892	108	15	evaluation	evaluation	NOUN
fsr-3892	108	16	,	,	PUNCT
fsr-3892	108	17	and	and	CCONJ
fsr-3892	108	18	a	a	DET
fsr-3892	108	19	more	more	ADV
fsr-3892	108	20	sophisticated	sophisticated	ADJ
fsr-3892	108	21	investor	investor	NOUN
fsr-3892	108	22	.	.	PUNCT
fsr-3892	109	1	3.3	3.3	NUM
fsr-3892	109	2	.	.	PUNCT
fsr-3892	109	3	time	time	NOUN
fsr-3892	109	4	period	period	NOUN
fsr-3892	109	5	examined	examine	VERB
fsr-3892	109	6	in	in	ADP
fsr-3892	109	7	the	the	DET
fsr-3892	109	8	nearly	nearly	ADV
fsr-3892	109	9	22	22	NUM
fsr-3892	109	10	-	-	PUNCT
fsr-3892	109	11	year	year	NOUN
fsr-3892	109	12	period	period	NOUN
fsr-3892	109	13	covered	cover	VERB
fsr-3892	109	14	in	in	ADP
fsr-3892	109	15	this	this	DET
fsr-3892	109	16	study	study	NOUN
fsr-3892	109	17	(	(	PUNCT
fsr-3892	109	18	the	the	DET
fsr-3892	109	19	period	period	NOUN
fsr-3892	109	20	is	be	AUX
fsr-3892	109	21	2	2	NUM
fsr-3892	109	22	months	month	NOUN
fsr-3892	109	23	short	short	ADV
fsr-3892	109	24	of	of	ADP
fsr-3892	109	25	22	22	NUM
fsr-3892	109	26	years	year	NOUN
fsr-3892	109	27	)	)	PUNCT
fsr-3892	109	28	,	,	PUNCT
fsr-3892	109	29	the	the	DET
fsr-3892	109	30	federal	federal	PROPN
fsr-3892	109	31	reserve	reserve	PROPN
fsr-3892	109	32	changed	change	VERB
fsr-3892	109	33	the	the	DET
fsr-3892	109	34	discount	discount	NOUN
fsr-3892	109	35	rate	rate	NOUN
fsr-3892	109	36	55	55	NUM
fsr-3892	109	37	times	time	NOUN
fsr-3892	109	38	:	:	PUNCT
fsr-3892	109	39	26	26	NUM
fsr-3892	109	40	increases	increase	NOUN
fsr-3892	109	41	and	and	CCONJ
fsr-3892	109	42	29	29	NUM
fsr-3892	109	43	decreases	decrease	NOUN
fsr-3892	109	44	.	.	PUNCT
fsr-3892	110	1	in	in	ADP
fsr-3892	110	2	this	this	DET
fsr-3892	110	3	period	period	NOUN
fsr-3892	110	4	,	,	PUNCT
fsr-3892	110	5	however	however	ADV
fsr-3892	110	6	,	,	PUNCT
fsr-3892	110	7	there	there	PRON
fsr-3892	110	8	are	be	VERB
fsr-3892	110	9	only	only	ADV
fsr-3892	110	10	eleven	eleven	NUM
fsr-3892	110	11	“	"	PUNCT
fsr-3892	110	12	rate	rate	NOUN
fsr-3892	110	13	-	-	PUNCT
fsr-3892	110	14	change	change	NOUN
fsr-3892	110	15	series	series	NOUN
fsr-3892	110	16	,	,	PUNCT
fsr-3892	110	17	”	"	PUNCT
fsr-3892	110	18	effectively	effectively	ADV
fsr-3892	110	19	representing	represent	VERB
fsr-3892	110	20	what	what	PRON
fsr-3892	110	21	we	we	PRON
fsr-3892	110	22	believe	believe	VERB
fsr-3892	110	23	are	be	AUX
fsr-3892	110	24	fundamental	fundamental	ADJ
fsr-3892	110	25	changes	change	NOUN
fsr-3892	110	26	in	in	ADP
fsr-3892	110	27	the	the	DET
fsr-3892	110	28	monetary	monetary	ADJ
fsr-3892	110	29	environment	environment	NOUN
fsr-3892	110	30	(	(	PUNCT
fsr-3892	110	31	see	see	VERB
fsr-3892	110	32	table	table	NOUN
fsr-3892	110	33	2	2	NUM
fsr-3892	110	34	for	for	ADP
fsr-3892	110	35	a	a	DET
fsr-3892	110	36	list	list	NOUN
fsr-3892	110	37	of	of	ADP
fsr-3892	110	38	these	these	DET
fsr-3892	110	39	dates	date	NOUN
fsr-3892	110	40	)	)	PUNCT
fsr-3892	110	41	.	.	PUNCT
fsr-3892	111	1	we	we	PRON
fsr-3892	111	2	examine	examine	VERB
fsr-3892	111	3	monthly	monthly	ADJ
fsr-3892	111	4	return	return	NOUN
fsr-3892	111	5	data	datum	NOUN
fsr-3892	111	6	from	from	ADP
fsr-3892	111	7	december	december	PROPN
fsr-3892	111	8	1976	1976	NUM
fsr-3892	111	9	through	through	ADP
fsr-3892	111	10	september	september	PROPN
fsr-3892	111	11	1998	1998	NUM
fsr-3892	111	12	.	.	PUNCT
fsr-3892	112	1	consistent	consistent	ADJ
fsr-3892	112	2	with	with	ADP
fsr-3892	112	3	previous	previous	ADJ
fsr-3892	112	4	research	research	NOUN
fsr-3892	112	5	,	,	PUNCT
fsr-3892	112	6	we	we	PRON
fsr-3892	112	7	do	do	AUX
fsr-3892	112	8	not	not	PART
fsr-3892	112	9	include	include	VERB
fsr-3892	112	10	the	the	DET
fsr-3892	112	11	month	month	NOUN
fsr-3892	112	12	in	in	ADP
fsr-3892	112	13	which	which	PRON
fsr-3892	112	14	the	the	DET
fsr-3892	112	15	federal	federal	PROPN
fsr-3892	112	16	reserve	reserve	PROPN
fsr-3892	112	17	changed	change	VERB
fsr-3892	112	18	from	from	ADP
fsr-3892	112	19	an	an	DET
fsr-3892	112	20	expansive	expansive	ADJ
fsr-3892	112	21	to	to	ADP
fsr-3892	112	22	a	a	DET
fsr-3892	112	23	restrictive	restrictive	ADJ
fsr-3892	112	24	monetary	monetary	ADJ
fsr-3892	112	25	policy	policy	NOUN
fsr-3892	112	26	or	or	CCONJ
fsr-3892	112	27	from	from	ADP
fsr-3892	112	28	a	a	DET
fsr-3892	112	29	restrictive	restrictive	ADJ
fsr-3892	112	30	to	to	ADP
fsr-3892	112	31	an	an	DET
fsr-3892	112	32	expansive	expansive	ADJ
fsr-3892	112	33	policy	policy	NOUN
fsr-3892	112	34	.	.	PUNCT
fsr-3892	113	1	these	these	DET
fsr-3892	113	2	months	month	NOUN
fsr-3892	113	3	are	be	AUX
fsr-3892	113	4	omitted	omit	VERB
fsr-3892	113	5	for	for	ADP
fsr-3892	113	6	two	two	NUM
fsr-3892	113	7	reasons	reason	NOUN
fsr-3892	113	8	.	.	PUNCT
fsr-3892	114	1	first	first	ADV
fsr-3892	114	2	,	,	PUNCT
fsr-3892	114	3	our	our	PRON
fsr-3892	114	4	objective	objective	NOUN
fsr-3892	114	5	is	be	AUX
fsr-3892	114	6	to	to	PART
fsr-3892	114	7	focus	focus	VERB
fsr-3892	114	8	on	on	ADP
fsr-3892	114	9	the	the	DET
fsr-3892	114	10	long	long	ADJ
fsr-3892	114	11	-	-	PUNCT
fsr-3892	114	12	term	term	NOUN
fsr-3892	114	13	relationship	relationship	NOUN
fsr-3892	114	14	between	between	ADP
fsr-3892	114	15	monetary	monetary	ADJ
fsr-3892	114	16	conditions	condition	NOUN
fsr-3892	114	17	and	and	CCONJ
fsr-3892	114	18	security	security	NOUN
fsr-3892	114	19	returns	return	NOUN
fsr-3892	114	20	,	,	PUNCT
fsr-3892	114	21	and	and	CCONJ
fsr-3892	114	22	thus	thus	ADV
fsr-3892	114	23	,	,	PUNCT
fsr-3892	114	24	we	we	PRON
fsr-3892	114	25	eliminate	eliminate	VERB
fsr-3892	114	26	any	any	DET
fsr-3892	114	27	announcement	announcement	NOUN
fsr-3892	114	28	-	-	PUNCT
fsr-3892	114	29	period	period	NOUN
fsr-3892	114	30	effect	effect	NOUN
fsr-3892	114	31	.	.	PUNCT
fsr-3892	115	1	second	second	ADV
fsr-3892	115	2	,	,	PUNCT
fsr-3892	115	3	the	the	DET
fsr-3892	115	4	return	return	NOUN
fsr-3892	115	5	associated	associate	VERB
fsr-3892	115	6	with	with	ADP
fsr-3892	115	7	months	month	NOUN
fsr-3892	115	8	that	that	PRON
fsr-3892	115	9	mark	mark	VERB
fsr-3892	115	10	the	the	DET
fsr-3892	115	11	initiation	initiation	NOUN
fsr-3892	115	12	of	of	ADP
fsr-3892	115	13	a	a	DET
fsr-3892	115	14	new	new	ADJ
fsr-3892	115	15	monetary	monetary	ADJ
fsr-3892	115	16	environment	environment	NOUN
fsr-3892	115	17	would	would	AUX
fsr-3892	115	18	include	include	VERB
fsr-3892	115	19	both	both	CCONJ
fsr-3892	115	20	expansive	expansive	ADJ
fsr-3892	115	21	and	and	CCONJ
fsr-3892	115	22	restrictive	restrictive	ADJ
fsr-3892	115	23	days	day	NOUN
fsr-3892	115	24	.	.	PUNCT
fsr-3892	116	1	a	a	DET
fsr-3892	116	2	total	total	NOUN
fsr-3892	116	3	of	of	ADP
fsr-3892	116	4	252	252	NUM
fsr-3892	116	5	months	month	NOUN
fsr-3892	116	6	are	be	AUX
fsr-3892	116	7	in	in	ADP
fsr-3892	116	8	the	the	DET
fsr-3892	116	9	sample	sample	NOUN
fsr-3892	116	10	:	:	PUNCT
fsr-3892	116	11	144	144	NUM
fsr-3892	116	12	months	month	NOUN
fsr-3892	116	13	in	in	ADP
fsr-3892	116	14	expansive	expansive	ADJ
fsr-3892	116	15	periods	period	NOUN
fsr-3892	116	16	and	and	CCONJ
fsr-3892	116	17	108	108	NUM
fsr-3892	116	18	months	month	NOUN
fsr-3892	116	19	in	in	ADP
fsr-3892	116	20	restrictive	restrictive	ADJ
fsr-3892	116	21	periods	period	NOUN
fsr-3892	116	22	.	.	PUNCT
fsr-3892	117	1	table	table	NOUN
fsr-3892	117	2	2	2	NUM
fsr-3892	117	3	discount	discount	NOUN
fsr-3892	117	4	rate	rate	NOUN
fsr-3892	117	5	change	change	NOUN
fsr-3892	117	6	series	series	PROPN
fsr-3892	117	7	series	series	PROPN
fsr-3892	117	8	increasing	increase	VERB
fsr-3892	117	9	(	(	PUNCT
fsr-3892	117	10	i	i	NOUN
fsr-3892	117	11	)	)	PUNCT
fsr-3892	117	12	or	or	CCONJ
fsr-3892	117	13	decreasing	decrease	VERB
fsr-3892	117	14	(	(	PUNCT
fsr-3892	117	15	d	d	NOUN
fsr-3892	117	16	)	)	PUNCT
fsr-3892	117	17	first	first	ADJ
fsr-3892	117	18	rate	rate	NOUN
fsr-3892	117	19	change	change	NOUN
fsr-3892	117	20	in	in	ADP
fsr-3892	117	21	series	series	NOUN
fsr-3892	117	22	rate	rate	NOUN
fsr-3892	117	23	changes	change	NOUN
fsr-3892	117	24	in	in	ADP
fsr-3892	117	25	series	series	NOUN
fsr-3892	117	26	monthly	monthly	ADJ
fsr-3892	117	27	observations	observation	NOUN
fsr-3892	117	28	in	in	ADP
fsr-3892	117	29	series	series	NOUN
fsr-3892	117	30	1	1	NUM
fsr-3892	117	31	d	d	PROPN
fsr-3892	117	32	12/09/74	12/09/74	PROPN
fsr-3892	117	33	0	0	NUM
fsr-3892	117	34	8a	8a	NUM
fsr-3892	117	35	2	2	NUM
fsr-3892	117	36	i	i	NOUN
fsr-3892	117	37	08/30/77	08/30/77	PROPN
fsr-3892	117	38	14	14	NUM
fsr-3892	117	39	32	32	NUM
fsr-3892	117	40	3	3	NUM
fsr-3892	117	41	d	d	NOUN
fsr-3892	117	42	05/29/80	05/29/80	PROPN
fsr-3892	117	43	3	3	NUM
fsr-3892	117	44	3	3	NUM
fsr-3892	117	45	4	4	NUM
fsr-3892	118	1	i	i	NOUN
fsr-3892	118	2	09/26/80	09/26/80	PROPN
fsr-3892	118	3	4	4	NUM
fsr-3892	118	4	13	13	NUM
fsr-3892	118	5	5	5	NUM
fsr-3892	118	6	d	d	SYM
fsr-3892	118	7	11/02/81	11/02/81	PROPN
fsr-3892	118	8	9	9	NUM
fsr-3892	118	9	28	28	NUM
fsr-3892	118	10	6	6	NUM
fsr-3892	119	1	i	i	NOUN
fsr-3892	119	2	04/09/84	04/09/84	PROPN
fsr-3892	119	3	1	1	NUM
fsr-3892	119	4	6	6	NUM
fsr-3892	119	5	7	7	NUM
fsr-3892	119	6	d	d	PROPN
fsr-3892	119	7	11/23/84	11/23/84	PROPN
fsr-3892	119	8	7	7	NUM
fsr-3892	119	9	33	33	NUM
fsr-3892	119	10	8	8	NUM
fsr-3892	120	1	i	i	NOUN
fsr-3892	120	2	09/04/87	09/04/87	PROPN
fsr-3892	120	3	3	3	NUM
fsr-3892	120	4	38	38	NUM
fsr-3892	120	5	9	9	NUM
fsr-3892	120	6	d	d	SYM
fsr-3892	120	7	12/18/90	12/18/90	PROPN
fsr-3892	120	8	7	7	NUM
fsr-3892	120	9	24	24	NUM
fsr-3892	120	10	10	10	NUM
fsr-3892	121	1	i	i	NOUN
fsr-3892	121	2	05/17/94	05/17/94	NUM
fsr-3892	121	3	4	4	NUM
fsr-3892	121	4	19	19	NUM
fsr-3892	121	5	11	11	NUM
fsr-3892	121	6	d	d	NOUN
fsr-3892	121	7	01/31/96	01/31/96	PROPN
fsr-3892	121	8	3	3	NUM
fsr-3892	121	9	32	32	NUM
fsr-3892	121	10	a	a	DET
fsr-3892	121	11	beginning	beginning	NOUN
fsr-3892	121	12	with	with	ADP
fsr-3892	121	13	december	december	PROPN
fsr-3892	121	14	of	of	ADP
fsr-3892	121	15	1976	1976	NUM
fsr-3892	121	16	.	.	PUNCT
fsr-3892	122	1	204	204	NUM
fsr-3892	122	2	r.r	r.r	PROPN
fsr-3892	122	3	.	.	PROPN
fsr-3892	122	4	johnson	johnson	PROPN
fsr-3892	122	5	et	et	PROPN
fsr-3892	122	6	al	al	PROPN
fsr-3892	122	7	.	.	PUNCT
fsr-3892	122	8	/	/	SYM
fsr-3892	122	9	financial	financial	ADJ
fsr-3892	122	10	services	service	NOUN
fsr-3892	122	11	review	review	VERB
fsr-3892	122	12	8	8	NUM
fsr-3892	122	13	(	(	PUNCT
fsr-3892	122	14	1999	1999	NUM
fsr-3892	122	15	)	)	PUNCT
fsr-3892	123	1	199–210	199–210	NUM
fsr-3892	123	2	3.4	3.4	NUM
fsr-3892	123	3	.	.	PUNCT
fsr-3892	124	1	methodology	methodology	NOUN
fsr-3892	124	2	summary	summary	NOUN
fsr-3892	124	3	statistics	statistic	NOUN
fsr-3892	124	4	are	be	AUX
fsr-3892	124	5	computed	compute	VERB
fsr-3892	124	6	for	for	ADP
fsr-3892	124	7	the	the	DET
fsr-3892	124	8	six	six	NUM
fsr-3892	124	9	international	international	ADJ
fsr-3892	124	10	and	and	CCONJ
fsr-3892	124	11	two	two	NUM
fsr-3892	124	12	domestic	domestic	ADJ
fsr-3892	124	13	indexes	index	NOUN
fsr-3892	124	14	included	include	VERB
fsr-3892	124	15	in	in	ADP
fsr-3892	124	16	the	the	DET
fsr-3892	124	17	study	study	NOUN
fsr-3892	124	18	.	.	PUNCT
fsr-3892	125	1	in	in	ADP
fsr-3892	125	2	this	this	DET
fsr-3892	125	3	context	context	NOUN
fsr-3892	125	4	,	,	PUNCT
fsr-3892	125	5	a	a	DET
fsr-3892	125	6	monthly	monthly	ADJ
fsr-3892	125	7	excess	excess	ADJ
fsr-3892	125	8	return	return	NOUN
fsr-3892	125	9	is	be	AUX
fsr-3892	125	10	defined	define	VERB
fsr-3892	125	11	as	as	ADP
fsr-3892	125	12	the	the	DET
fsr-3892	125	13	monthly	monthly	ADJ
fsr-3892	125	14	index	index	NOUN
fsr-3892	125	15	return	return	NOUN
fsr-3892	125	16	minus	minus	ADP
fsr-3892	125	17	the	the	DET
fsr-3892	125	18	monthly	monthly	ADJ
fsr-3892	125	19	risk	risk	NOUN
fsr-3892	125	20	-	-	PUNCT
fsr-3892	125	21	free	free	ADJ
fsr-3892	125	22	rate	rate	NOUN
fsr-3892	125	23	.	.	PUNCT
fsr-3892	126	1	for	for	ADP
fsr-3892	126	2	the	the	DET
fsr-3892	126	3	riskless	riskless	NOUN
fsr-3892	126	4	rate	rate	NOUN
fsr-3892	126	5	of	of	ADP
fsr-3892	126	6	return	return	NOUN
fsr-3892	126	7	,	,	PUNCT
fsr-3892	126	8	we	we	PRON
fsr-3892	126	9	use	use	VERB
fsr-3892	126	10	the	the	DET
fsr-3892	126	11	monthly	monthly	ADJ
fsr-3892	126	12	t	t	PROPN
fsr-3892	126	13	-	-	PUNCT
fsr-3892	126	14	bill	bill	NOUN
fsr-3892	126	15	return	return	NOUN
fsr-3892	126	16	as	as	SCONJ
fsr-3892	126	17	compiled	compile	VERB
fsr-3892	126	18	by	by	ADP
fsr-3892	126	19	ibbotson	ibbotson	PROPN
fsr-3892	126	20	(	(	PUNCT
fsr-3892	126	21	1999	1999	NUM
fsr-3892	126	22	)	)	PUNCT
fsr-3892	126	23	.	.	PUNCT
fsr-3892	127	1	sharpe	sharpe	PROPN
fsr-3892	127	2	ratios	ratio	NOUN
fsr-3892	127	3	are	be	AUX
fsr-3892	127	4	computed	compute	VERB
fsr-3892	127	5	for	for	ADP
fsr-3892	127	6	each	each	PRON
fsr-3892	127	7	of	of	ADP
fsr-3892	127	8	the	the	DET
fsr-3892	127	9	mutual	mutual	ADJ
fsr-3892	127	10	fund	fund	NOUN
fsr-3892	127	11	indexes	index	NOUN
fsr-3892	127	12	for	for	ADP
fsr-3892	127	13	the	the	DET
fsr-3892	127	14	total	total	ADJ
fsr-3892	127	15	sample	sample	NOUN
fsr-3892	127	16	period	period	NOUN
fsr-3892	127	17	,	,	PUNCT
fsr-3892	127	18	expansive	expansive	ADJ
fsr-3892	127	19	monetary	monetary	ADJ
fsr-3892	127	20	policy	policy	NOUN
fsr-3892	127	21	periods	period	NOUN
fsr-3892	127	22	,	,	PUNCT
fsr-3892	127	23	and	and	CCONJ
fsr-3892	127	24	restrictive	restrictive	ADJ
fsr-3892	127	25	monetary	monetary	ADJ
fsr-3892	127	26	policy	policy	NOUN
fsr-3892	127	27	periods	period	NOUN
fsr-3892	127	28	.	.	PUNCT
fsr-3892	128	1	the	the	DET
fsr-3892	128	2	sharpe	sharpe	PROPN
fsr-3892	128	3	ratio(s	ratio(s	PROPN
fsr-3892	128	4	)	)	PUNCT
fsr-3892	128	5	measures	measure	VERB
fsr-3892	128	6	the	the	DET
fsr-3892	128	7	average	average	ADJ
fsr-3892	128	8	excess	excess	ADJ
fsr-3892	128	9	return	return	NOUN
fsr-3892	128	10	per	per	ADP
fsr-3892	128	11	unit	unit	NOUN
fsr-3892	128	12	of	of	ADP
fsr-3892	128	13	total	total	ADJ
fsr-3892	128	14	risk	risk	NOUN
fsr-3892	128	15	.	.	PUNCT
fsr-3892	129	1	the	the	DET
fsr-3892	129	2	ratio	ratio	NOUN
fsr-3892	129	3	is	be	AUX
fsr-3892	129	4	calculated	calculate	VERB
fsr-3892	129	5	as	as	SCONJ
fsr-3892	129	6	follows	follow	VERB
fsr-3892	129	7	:	:	PUNCT
fsr-3892	129	8	s5	s5	PROPN
fsr-3892	129	9	[	[	X
fsr-3892	129	10	(	(	PUNCT
fsr-3892	129	11	r	r	NOUN
fsr-3892	129	12	i	i	PROPN
fsr-3892	129	13	2	2	NUM
fsr-3892	129	14	rf)/sp	rf)/sp	PROPN
fsr-3892	129	15	]	]	PUNCT
fsr-3892	129	16	where	where	SCONJ
fsr-3892	129	17	,	,	PUNCT
fsr-3892	129	18	ri	ri	PROPN
fsr-3892	129	19	is	be	AUX
fsr-3892	129	20	the	the	DET
fsr-3892	129	21	average	average	ADJ
fsr-3892	129	22	rate	rate	NOUN
fsr-3892	129	23	of	of	ADP
fsr-3892	129	24	return	return	NOUN
fsr-3892	129	25	on	on	ADP
fsr-3892	129	26	the	the	DET
fsr-3892	129	27	mutual	mutual	ADJ
fsr-3892	129	28	fund	fund	NOUN
fsr-3892	129	29	index	index	NOUN
fsr-3892	129	30	,	,	PUNCT
fsr-3892	129	31	and	and	CCONJ
fsr-3892	129	32	rf	rf	PRON
fsr-3892	129	33	is	be	AUX
fsr-3892	129	34	the	the	DET
fsr-3892	129	35	average	average	ADJ
fsr-3892	129	36	rate	rate	NOUN
fsr-3892	129	37	of	of	ADP
fsr-3892	129	38	return	return	NOUN
fsr-3892	129	39	on	on	ADP
fsr-3892	129	40	the	the	DET
fsr-3892	129	41	risk	risk	NOUN
fsr-3892	129	42	free	free	ADJ
fsr-3892	129	43	asset	asset	NOUN
fsr-3892	129	44	,	,	PUNCT
fsr-3892	129	45	andsp	andsp	NOUN
fsr-3892	129	46	is	be	AUX
fsr-3892	129	47	the	the	DET
fsr-3892	129	48	standard	standard	ADJ
fsr-3892	129	49	deviation	deviation	NOUN
fsr-3892	129	50	of	of	ADP
fsr-3892	129	51	the	the	DET
fsr-3892	129	52	mutual	mutual	ADJ
fsr-3892	129	53	fund	fund	NOUN
fsr-3892	129	54	index	index	NOUN
fsr-3892	129	55	returns	return	NOUN
fsr-3892	129	56	.	.	PUNCT
fsr-3892	130	1	differences	difference	NOUN
fsr-3892	130	2	in	in	ADP
fsr-3892	130	3	the	the	DET
fsr-3892	130	4	distributions	distribution	NOUN
fsr-3892	130	5	of	of	ADP
fsr-3892	130	6	monthly	monthly	ADJ
fsr-3892	130	7	excess	excess	ADJ
fsr-3892	130	8	returns	return	NOUN
fsr-3892	130	9	across	across	ADP
fsr-3892	130	10	monetary	monetary	ADJ
fsr-3892	130	11	policy	policy	NOUN
fsr-3892	130	12	environments	environment	NOUN
fsr-3892	130	13	are	be	AUX
fsr-3892	130	14	also	also	ADV
fsr-3892	130	15	gauged	gauge	VERB
fsr-3892	130	16	by	by	ADP
fsr-3892	130	17	analyzing	analyze	VERB
fsr-3892	130	18	skewness	skewness	NOUN
fsr-3892	130	19	and	and	CCONJ
fsr-3892	130	20	excess	excess	ADJ
fsr-3892	130	21	kurtosis	kurtosis	NOUN
fsr-3892	130	22	.	.	PUNCT
fsr-3892	131	1	stuart	stuart	PROPN
fsr-3892	131	2	&	&	CCONJ
fsr-3892	131	3	ord	ord	PROPN
fsr-3892	131	4	(	(	PUNCT
fsr-3892	131	5	1987	1987	NUM
fsr-3892	131	6	)	)	PUNCT
fsr-3892	131	7	find	find	VERB
fsr-3892	131	8	that	that	SCONJ
fsr-3892	131	9	in	in	ADP
fsr-3892	131	10	large	large	ADJ
fsr-3892	131	11	samples	sample	NOUN
fsr-3892	131	12	of	of	ADP
fsr-3892	131	13	normally	normally	ADV
fsr-3892	131	14	distributed	distribute	VERB
fsr-3892	131	15	data	datum	NOUN
fsr-3892	131	16	,	,	PUNCT
fsr-3892	131	17	the	the	DET
fsr-3892	131	18	sample	sample	NOUN
fsr-3892	131	19	skewness	skewness	NOUN
fsr-3892	131	20	and	and	CCONJ
fsr-3892	131	21	sample	sample	NOUN
fsr-3892	131	22	kurtosis	kurtosis	NOUN
fsr-3892	131	23	estimates	estimate	NOUN
fsr-3892	131	24	are	be	AUX
fsr-3892	131	25	normally	normally	ADV
fsr-3892	131	26	distributed	distribute	VERB
fsr-3892	131	27	with	with	ADP
fsr-3892	131	28	means	mean	NOUN
fsr-3892	131	29	0	0	NUM
fsr-3892	131	30	and	and	CCONJ
fsr-3892	131	31	3	3	NUM
fsr-3892	131	32	and	and	CCONJ
fsr-3892	131	33	variances	variance	NOUN
fsr-3892	131	34	6	6	NUM
fsr-3892	131	35	/	/	SYM
fsr-3892	131	36	n	n	NOUN
fsr-3892	131	37	and	and	CCONJ
fsr-3892	131	38	24	24	NUM
fsr-3892	131	39	/	/	SYM
fsr-3892	131	40	n	n	CCONJ
fsr-3892	131	41	,	,	PUNCT
fsr-3892	131	42	respectively	respectively	ADV
fsr-3892	131	43	(	(	PUNCT
fsr-3892	131	44	wheren	wheren	NOUN
fsr-3892	131	45	5	5	NUM
fsr-3892	131	46	the	the	DET
fsr-3892	131	47	number	number	NOUN
fsr-3892	131	48	of	of	ADP
fsr-3892	131	49	observations	observation	NOUN
fsr-3892	131	50	)	)	PUNCT
fsr-3892	131	51	.	.	PUNCT
fsr-3892	132	1	because	because	SCONJ
fsr-3892	132	2	3	3	NUM
fsr-3892	132	3	is	be	AUX
fsr-3892	132	4	the	the	DET
fsr-3892	132	5	kurtosis	kurtosis	NOUN
fsr-3892	132	6	of	of	ADP
fsr-3892	132	7	the	the	DET
fsr-3892	132	8	normal	normal	ADJ
fsr-3892	132	9	distribution	distribution	NOUN
fsr-3892	132	10	,	,	PUNCT
fsr-3892	132	11	sampleexcess	sampleexcess	NOUN
fsr-3892	132	12	kurtosisis	kurtosisis	NOUN
fsr-3892	132	13	defined	define	VERB
fsr-3892	132	14	to	to	PART
fsr-3892	132	15	be	be	AUX
fsr-3892	132	16	sample	sample	NOUN
fsr-3892	132	17	kurtosis	kurtosis	NOUN
fsr-3892	132	18	less	less	ADJ
fsr-3892	132	19	3	3	NUM
fsr-3892	132	20	.	.	PUNCT
fsr-3892	132	21	campbell	campbell	PROPN
fsr-3892	132	22	,	,	PUNCT
fsr-3892	132	23	lo	lo	PROPN
fsr-3892	132	24	,	,	PUNCT
fsr-3892	132	25	&	&	CCONJ
fsr-3892	132	26	mackinlay	mackinlay	PROPN
fsr-3892	132	27	(	(	PUNCT
fsr-3892	132	28	1997	1997	NUM
fsr-3892	132	29	)	)	PUNCT
fsr-3892	132	30	find	find	VERB
fsr-3892	132	31	that	that	SCONJ
fsr-3892	132	32	sample	sample	NOUN
fsr-3892	132	33	estimates	estimate	NOUN
fsr-3892	132	34	of	of	ADP
fsr-3892	132	35	skewness	skewness	NOUN
fsr-3892	132	36	for	for	ADP
fsr-3892	132	37	daily	daily	PROPN
fsr-3892	132	38	us	us	PROPN
fsr-3892	132	39	stock	stock	NOUN
fsr-3892	132	40	returns	return	NOUN
fsr-3892	132	41	tend	tend	VERB
fsr-3892	132	42	to	to	PART
fsr-3892	132	43	be	be	AUX
fsr-3892	132	44	negative	negative	ADJ
fsr-3892	132	45	for	for	ADP
fsr-3892	132	46	stock	stock	NOUN
fsr-3892	132	47	indexes	index	NOUN
fsr-3892	132	48	but	but	CCONJ
fsr-3892	132	49	close	close	ADJ
fsr-3892	132	50	to	to	ADP
fsr-3892	132	51	zero	zero	NUM
fsr-3892	132	52	or	or	CCONJ
fsr-3892	132	53	positive	positive	ADJ
fsr-3892	132	54	for	for	ADP
fsr-3892	132	55	individual	individual	ADJ
fsr-3892	132	56	stocks	stock	NOUN
fsr-3892	132	57	.	.	PUNCT
fsr-3892	133	1	sample	sample	NOUN
fsr-3892	133	2	estimates	estimate	NOUN
fsr-3892	133	3	of	of	ADP
fsr-3892	133	4	excess	excess	ADJ
fsr-3892	133	5	kurtosis	kurtosis	NOUN
fsr-3892	133	6	for	for	ADP
fsr-3892	133	7	daily	daily	ADJ
fsr-3892	133	8	us	us	PROPN
fsr-3892	133	9	stock	stock	NOUN
fsr-3892	133	10	returns	return	NOUN
fsr-3892	133	11	are	be	AUX
fsr-3892	133	12	large	large	ADJ
fsr-3892	133	13	and	and	CCONJ
fsr-3892	133	14	positive	positive	ADJ
fsr-3892	133	15	for	for	ADP
fsr-3892	133	16	both	both	DET
fsr-3892	133	17	indexes	index	NOUN
fsr-3892	133	18	and	and	CCONJ
fsr-3892	133	19	individual	individual	ADJ
fsr-3892	133	20	stocks	stock	NOUN
fsr-3892	133	21	,	,	PUNCT
fsr-3892	133	22	indicating	indicate	VERB
fsr-3892	133	23	that	that	SCONJ
fsr-3892	133	24	returns	return	NOUN
fsr-3892	133	25	have	have	VERB
fsr-3892	133	26	more	more	ADJ
fsr-3892	133	27	mass	mass	NOUN
fsr-3892	133	28	in	in	ADP
fsr-3892	133	29	the	the	DET
fsr-3892	133	30	tail	tail	NOUN
fsr-3892	133	31	areas	area	NOUN
fsr-3892	133	32	than	than	SCONJ
fsr-3892	133	33	would	would	AUX
fsr-3892	133	34	be	be	AUX
fsr-3892	133	35	predicted	predict	VERB
fsr-3892	133	36	by	by	ADP
fsr-3892	133	37	a	a	DET
fsr-3892	133	38	normal	normal	ADJ
fsr-3892	133	39	distribution	distribution	NOUN
fsr-3892	133	40	.	.	PUNCT
fsr-3892	134	1	sample	sample	NOUN
fsr-3892	134	2	statistics	statistic	NOUN
fsr-3892	134	3	for	for	ADP
fsr-3892	134	4	monthly	monthly	ADJ
fsr-3892	134	5	returns	return	NOUN
fsr-3892	134	6	show	show	VERB
fsr-3892	134	7	that	that	SCONJ
fsr-3892	134	8	these	these	PRON
fsr-3892	134	9	are	be	AUX
fsr-3892	134	10	generally	generally	ADV
fsr-3892	134	11	less	less	ADV
fsr-3892	134	12	leptokurtic	leptokurtic	ADJ
fsr-3892	134	13	than	than	ADP
fsr-3892	134	14	daily	daily	ADJ
fsr-3892	134	15	returns	return	NOUN
fsr-3892	134	16	.	.	PUNCT
fsr-3892	135	1	4	4	X
fsr-3892	135	2	.	.	NOUN
fsr-3892	135	3	results	result	VERB
fsr-3892	135	4	4.1	4.1	NUM
fsr-3892	135	5	.	.	PUNCT
fsr-3892	136	1	returns	return	NOUN
fsr-3892	136	2	and	and	CCONJ
fsr-3892	136	3	distributions	distribution	NOUN
fsr-3892	136	4	of	of	ADP
fsr-3892	136	5	returns	return	NOUN
fsr-3892	136	6	table	table	VERB
fsr-3892	136	7	3	3	NUM
fsr-3892	136	8	presents	present	NOUN
fsr-3892	136	9	summary	summary	NOUN
fsr-3892	136	10	statistics	statistic	NOUN
fsr-3892	136	11	for	for	ADP
fsr-3892	136	12	the	the	DET
fsr-3892	136	13	first	first	ADJ
fsr-3892	136	14	four	four	NUM
fsr-3892	136	15	moments	moment	NOUN
fsr-3892	136	16	of	of	ADP
fsr-3892	136	17	monthly	monthly	ADJ
fsr-3892	136	18	excess	excess	ADJ
fsr-3892	136	19	returns	return	NOUN
fsr-3892	136	20	of	of	ADP
fsr-3892	136	21	mutual	mutual	ADJ
fsr-3892	136	22	fund	fund	NOUN
fsr-3892	136	23	indexes	index	NOUN
fsr-3892	136	24	and	and	CCONJ
fsr-3892	136	25	sharpe	sharpe	NOUN
fsr-3892	136	26	ratios	ratio	NOUN
fsr-3892	136	27	.	.	PUNCT
fsr-3892	137	1	the	the	DET
fsr-3892	137	2	patterns	pattern	NOUN
fsr-3892	137	3	of	of	ADP
fsr-3892	137	4	mean	mean	ADJ
fsr-3892	137	5	monthly	monthly	ADJ
fsr-3892	137	6	excess	excess	ADJ
fsr-3892	137	7	returns	return	NOUN
fsr-3892	137	8	are	be	AUX
fsr-3892	137	9	identical	identical	ADJ
fsr-3892	137	10	for	for	ADP
fsr-3892	137	11	each	each	PRON
fsr-3892	137	12	of	of	ADP
fsr-3892	137	13	the	the	DET
fsr-3892	137	14	seven	seven	NUM
fsr-3892	137	15	mutual	mutual	ADJ
fsr-3892	137	16	fund	fund	NOUN
fsr-3892	137	17	indexes	index	NOUN
fsr-3892	137	18	examined	examine	VERB
fsr-3892	137	19	.	.	PUNCT
fsr-3892	138	1	for	for	ADP
fsr-3892	138	2	each	each	DET
fsr-3892	138	3	index	index	NOUN
fsr-3892	138	4	,	,	PUNCT
fsr-3892	138	5	the	the	DET
fsr-3892	138	6	mean	mean	ADJ
fsr-3892	138	7	excess	excess	ADJ
fsr-3892	138	8	return	return	NOUN
fsr-3892	138	9	during	during	ADP
fsr-3892	138	10	expansive	expansive	ADJ
fsr-3892	138	11	periods	period	NOUN
fsr-3892	138	12	is	be	AUX
fsr-3892	138	13	higher	high	ADJ
fsr-3892	138	14	than	than	ADP
fsr-3892	138	15	the	the	DET
fsr-3892	138	16	mean	mean	ADJ
fsr-3892	138	17	excess	excess	ADJ
fsr-3892	138	18	return	return	NOUN
fsr-3892	138	19	during	during	ADP
fsr-3892	138	20	restrictive	restrictive	ADJ
fsr-3892	138	21	monetary	monetary	ADJ
fsr-3892	138	22	policy	policy	NOUN
fsr-3892	138	23	periods	period	NOUN
fsr-3892	138	24	.	.	PUNCT
fsr-3892	139	1	as	as	SCONJ
fsr-3892	139	2	expected	expect	VERB
fsr-3892	139	3	,	,	PUNCT
fsr-3892	139	4	the	the	DET
fsr-3892	139	5	sharpe	sharpe	PROPN
fsr-3892	139	6	ratios	ratio	NOUN
fsr-3892	139	7	indicate	indicate	VERB
fsr-3892	139	8	that	that	SCONJ
fsr-3892	139	9	the	the	DET
fsr-3892	139	10	return	return	NOUN
fsr-3892	139	11	per	per	ADP
fsr-3892	139	12	unit	unit	NOUN
fsr-3892	139	13	of	of	ADP
fsr-3892	139	14	risk	risk	NOUN
fsr-3892	139	15	during	during	ADP
fsr-3892	139	16	expansive	expansive	ADJ
fsr-3892	139	17	periods	period	NOUN
fsr-3892	139	18	is	be	AUX
fsr-3892	139	19	much	much	ADV
fsr-3892	139	20	greater	great	ADJ
fsr-3892	139	21	than	than	ADP
fsr-3892	139	22	the	the	DET
fsr-3892	139	23	return	return	NOUN
fsr-3892	139	24	per	per	ADP
fsr-3892	139	25	unit	unit	NOUN
fsr-3892	139	26	of	of	ADP
fsr-3892	139	27	risk	risk	NOUN
fsr-3892	139	28	during	during	ADP
fsr-3892	139	29	restrictive	restrictive	ADJ
fsr-3892	139	30	periods	period	NOUN
fsr-3892	139	31	for	for	ADP
fsr-3892	139	32	each	each	PRON
fsr-3892	139	33	of	of	ADP
fsr-3892	139	34	the	the	DET
fsr-3892	139	35	indexes	index	NOUN
fsr-3892	139	36	examined	examine	VERB
fsr-3892	139	37	.	.	PUNCT
fsr-3892	140	1	for	for	ADP
fsr-3892	140	2	the	the	DET
fsr-3892	140	3	total	total	ADJ
fsr-3892	140	4	sample	sample	NOUN
fsr-3892	140	5	period	period	NOUN
fsr-3892	140	6	,	,	PUNCT
fsr-3892	140	7	the	the	DET
fsr-3892	140	8	highest	high	ADJ
fsr-3892	140	9	sharpe	sharpe	NOUN
fsr-3892	140	10	ratios	ratio	NOUN
fsr-3892	140	11	were	be	AUX
fsr-3892	140	12	realized	realize	VERB
fsr-3892	140	13	for	for	ADP
fsr-3892	140	14	the	the	DET
fsr-3892	140	15	two	two	NUM
fsr-3892	140	16	us	us	PROPN
fsr-3892	140	17	indexes	index	NOUN
fsr-3892	140	18	,	,	PUNCT
fsr-3892	140	19	whereas	whereas	SCONJ
fsr-3892	140	20	the	the	DET
fsr-3892	140	21	lowest	low	ADJ
fsr-3892	140	22	sharpe	sharpe	NOUN
fsr-3892	140	23	ratios	ratio	NOUN
fsr-3892	140	24	were	be	AUX
fsr-3892	140	25	realized	realize	VERB
fsr-3892	140	26	by	by	ADP
fsr-3892	140	27	the	the	DET
fsr-3892	140	28	diversified	diversified	ADJ
fsr-3892	140	29	emerging	emerge	VERB
fsr-3892	140	30	market	market	NOUN
fsr-3892	140	31	and	and	CCONJ
fsr-3892	140	32	diversified	diversify	VERB
fsr-3892	140	33	asia	asia	PROPN
fsr-3892	140	34	/	/	SYM
fsr-3892	140	35	pacific	pacific	ADJ
fsr-3892	140	36	stock	stock	NOUN
fsr-3892	140	37	indexes	index	NOUN
fsr-3892	140	38	.	.	PUNCT
fsr-3892	141	1	during	during	ADP
fsr-3892	141	2	expansive	expansive	ADJ
fsr-3892	141	3	monetary	monetary	ADJ
fsr-3892	141	4	policy	policy	NOUN
fsr-3892	141	5	periods	period	NOUN
fsr-3892	141	6	,	,	PUNCT
fsr-3892	141	7	the	the	DET
fsr-3892	141	8	highest	high	ADJ
fsr-3892	141	9	sharpe	sharpe	PROPN
fsr-3892	141	10	ratio	ratio	NOUN
fsr-3892	141	11	was	be	AUX
fsr-3892	141	12	realized	realize	VERB
fsr-3892	141	13	by	by	ADP
fsr-3892	141	14	the	the	DET
fsr-3892	141	15	multi	multi	ADJ
fsr-3892	141	16	-	-	ADJ
fsr-3892	141	17	asset	asset	ADJ
fsr-3892	141	18	global	global	ADJ
fsr-3892	141	19	index	index	NOUN
fsr-3892	141	20	,	,	PUNCT
fsr-3892	141	21	whereas	whereas	SCONJ
fsr-3892	141	22	the	the	DET
fsr-3892	141	23	lowest	low	ADJ
fsr-3892	141	24	sharpe	sharpe	PROPN
fsr-3892	141	25	ratio	ratio	NOUN
fsr-3892	141	26	was	be	AUX
fsr-3892	141	27	realized	realize	VERB
fsr-3892	141	28	by	by	ADP
fsr-3892	141	29	the	the	DET
fsr-3892	141	30	diversified	diversified	ADJ
fsr-3892	141	31	emerging	emerge	VERB
fsr-3892	141	32	markets	market	NOUN
fsr-3892	141	33	index	index	NOUN
fsr-3892	141	34	.	.	PUNCT
fsr-3892	142	1	in	in	ADP
fsr-3892	142	2	205r.r	205r.r	NUM
fsr-3892	142	3	.	.	PUNCT
fsr-3892	143	1	johnson	johnson	PROPN
fsr-3892	143	2	et	et	PROPN
fsr-3892	143	3	al	al	PROPN
fsr-3892	143	4	.	.	PUNCT
fsr-3892	143	5	/	/	SYM
fsr-3892	143	6	financial	financial	ADJ
fsr-3892	143	7	services	service	NOUN
fsr-3892	143	8	review	review	VERB
fsr-3892	143	9	8	8	NUM
fsr-3892	143	10	(	(	PUNCT
fsr-3892	143	11	1999	1999	NUM
fsr-3892	143	12	)	)	PUNCT
fsr-3892	144	1	199–210	199–210	NUM
fsr-3892	144	2	restrictive	restrictive	ADJ
fsr-3892	144	3	periods	period	NOUN
fsr-3892	144	4	,	,	PUNCT
fsr-3892	144	5	the	the	DET
fsr-3892	144	6	two	two	NUM
fsr-3892	144	7	us	us	PROPN
fsr-3892	144	8	indexes	index	NOUN
fsr-3892	144	9	and	and	CCONJ
fsr-3892	144	10	the	the	DET
fsr-3892	144	11	world	world	NOUN
fsr-3892	144	12	stock	stock	NOUN
fsr-3892	144	13	index	index	NOUN
fsr-3892	144	14	realized	realize	VERB
fsr-3892	144	15	the	the	DET
fsr-3892	144	16	only	only	ADJ
fsr-3892	144	17	positive	positive	ADJ
fsr-3892	144	18	sharpe	sharpe	NOUN
fsr-3892	144	19	ratios	ratio	NOUN
fsr-3892	144	20	.	.	PUNCT
fsr-3892	145	1	as	as	SCONJ
fsr-3892	145	2	shown	show	VERB
fsr-3892	145	3	in	in	ADP
fsr-3892	145	4	table	table	NOUN
fsr-3892	145	5	3	3	NUM
fsr-3892	145	6	,	,	PUNCT
fsr-3892	145	7	the	the	DET
fsr-3892	145	8	distribution	distribution	NOUN
fsr-3892	145	9	of	of	ADP
fsr-3892	145	10	excess	excess	ADJ
fsr-3892	145	11	monthly	monthly	ADJ
fsr-3892	145	12	returns	return	NOUN
fsr-3892	145	13	for	for	ADP
fsr-3892	145	14	each	each	PRON
fsr-3892	145	15	of	of	ADP
fsr-3892	145	16	the	the	DET
fsr-3892	145	17	seven	seven	NUM
fsr-3892	145	18	mutual	mutual	ADJ
fsr-3892	145	19	fund	fund	NOUN
fsr-3892	145	20	indexes	index	NOUN
fsr-3892	145	21	examined	examine	VERB
fsr-3892	145	22	all	all	PRON
fsr-3892	145	23	exhibit	exhibit	VERB
fsr-3892	145	24	negative	negative	ADJ
fsr-3892	145	25	skewness	skewness	NOUN
fsr-3892	145	26	with	with	ADP
fsr-3892	145	27	the	the	DET
fsr-3892	145	28	exception	exception	NOUN
fsr-3892	145	29	of	of	ADP
fsr-3892	145	30	multiasset	multiasset	PROPN
fsr-3892	145	31	global	global	ADJ
fsr-3892	145	32	index	index	NOUN
fsr-3892	145	33	during	during	ADP
fsr-3892	145	34	expansive	expansive	ADJ
fsr-3892	145	35	periods	period	NOUN
fsr-3892	145	36	.	.	PUNCT
fsr-3892	146	1	each	each	PRON
fsr-3892	146	2	of	of	ADP
fsr-3892	146	3	the	the	DET
fsr-3892	146	4	other	other	ADJ
fsr-3892	146	5	20	20	NUM
fsr-3892	146	6	excess	excess	ADJ
fsr-3892	146	7	returns	return	NOUN
fsr-3892	146	8	distributions	distribution	NOUN
fsr-3892	146	9	exhibit	exhibit	VERB
fsr-3892	146	10	negative	negative	ADJ
fsr-3892	146	11	skewness	skewness	NOUN
fsr-3892	146	12	.	.	PUNCT
fsr-3892	147	1	with	with	ADP
fsr-3892	147	2	the	the	DET
fsr-3892	147	3	exceptions	exception	NOUN
fsr-3892	147	4	of	of	ADP
fsr-3892	147	5	the	the	DET
fsr-3892	147	6	diversified	diversified	ADJ
fsr-3892	147	7	emerging	emerge	VERB
fsr-3892	147	8	market	market	NOUN
fsr-3892	147	9	and	and	CCONJ
fsr-3892	147	10	diversified	diversify	VERB
fsr-3892	147	11	asia	asia	PROPN
fsr-3892	147	12	/	/	SYM
fsr-3892	147	13	pacific	pacific	ADJ
fsr-3892	147	14	stock	stock	NOUN
fsr-3892	147	15	indexes	index	NOUN
fsr-3892	147	16	,	,	PUNCT
fsr-3892	147	17	the	the	DET
fsr-3892	147	18	restrictive	restrictive	ADJ
fsr-3892	147	19	period	period	NOUN
fsr-3892	147	20	distributions	distribution	NOUN
fsr-3892	147	21	for	for	ADP
fsr-3892	147	22	the	the	DET
fsr-3892	147	23	indexes	index	NOUN
fsr-3892	147	24	examined	examine	VERB
fsr-3892	147	25	are	be	AUX
fsr-3892	147	26	more	more	ADV
fsr-3892	147	27	negatively	negatively	ADV
fsr-3892	147	28	skewed	skew	VERB
fsr-3892	147	29	during	during	ADP
fsr-3892	147	30	restrictive	restrictive	ADJ
fsr-3892	147	31	periods	period	NOUN
fsr-3892	147	32	than	than	ADP
fsr-3892	147	33	during	during	ADP
fsr-3892	147	34	expansive	expansive	ADJ
fsr-3892	147	35	periods	period	NOUN
fsr-3892	147	36	.	.	PUNCT
fsr-3892	148	1	in	in	ADP
fsr-3892	148	2	addition	addition	NOUN
fsr-3892	148	3	,	,	PUNCT
fsr-3892	148	4	with	with	ADP
fsr-3892	148	5	the	the	DET
fsr-3892	148	6	exceptions	exception	NOUN
fsr-3892	148	7	of	of	ADP
fsr-3892	148	8	the	the	DET
fsr-3892	148	9	us	us	PROPN
fsr-3892	148	10	balanced	balanced	ADJ
fsr-3892	148	11	and	and	CCONJ
fsr-3892	148	12	multi	multi	ADJ
fsr-3892	148	13	-	-	ADJ
fsr-3892	148	14	asset	asset	ADJ
fsr-3892	148	15	global	global	ADJ
fsr-3892	148	16	indexes	index	NOUN
fsr-3892	148	17	during	during	ADP
fsr-3892	148	18	expansive	expansive	ADJ
fsr-3892	148	19	periods	period	NOUN
fsr-3892	148	20	and	and	CCONJ
fsr-3892	148	21	the	the	DET
fsr-3892	148	22	diversified	diversified	ADJ
fsr-3892	148	23	asia	asia	PROPN
fsr-3892	148	24	/	/	SYM
fsr-3892	148	25	pacific	pacific	PROPN
fsr-3892	148	26	stock	stock	PROPN
fsr-3892	148	27	index	index	NOUN
fsr-3892	148	28	during	during	ADP
fsr-3892	148	29	both	both	CCONJ
fsr-3892	148	30	expansive	expansive	ADJ
fsr-3892	148	31	and	and	CCONJ
fsr-3892	148	32	restrictive	restrictive	ADJ
fsr-3892	148	33	periods	period	NOUN
fsr-3892	148	34	,	,	PUNCT
fsr-3892	148	35	each	each	PRON
fsr-3892	148	36	of	of	ADP
fsr-3892	148	37	the	the	DET
fsr-3892	148	38	excess	excess	ADJ
fsr-3892	148	39	returns	return	NOUN
fsr-3892	148	40	distributions	distribution	NOUN
fsr-3892	148	41	examined	examine	VERB
fsr-3892	148	42	exhibits	exhibit	NOUN
fsr-3892	148	43	statistically	statistically	ADV
fsr-3892	148	44	significant	significant	ADJ
fsr-3892	148	45	negative	negative	ADJ
fsr-3892	148	46	skewness	skewness	NOUN
fsr-3892	148	47	.	.	PUNCT
fsr-3892	149	1	table	table	NOUN
fsr-3892	149	2	3	3	NUM
fsr-3892	149	3	also	also	ADV
fsr-3892	149	4	shows	show	VERB
fsr-3892	149	5	that	that	SCONJ
fsr-3892	149	6	each	each	PRON
fsr-3892	149	7	of	of	ADP
fsr-3892	149	8	the	the	DET
fsr-3892	149	9	excess	excess	ADJ
fsr-3892	149	10	return	return	NOUN
fsr-3892	149	11	distributions	distribution	NOUN
fsr-3892	149	12	examined	examine	VERB
fsr-3892	149	13	exhibit	exhibit	VERB
fsr-3892	149	14	statistically	statistically	ADV
fsr-3892	149	15	significant	significant	ADJ
fsr-3892	149	16	excess	excess	ADJ
fsr-3892	149	17	kurtosis	kurtosis	NOUN
fsr-3892	149	18	.	.	PUNCT
fsr-3892	150	1	this	this	PRON
fsr-3892	150	2	means	mean	VERB
fsr-3892	150	3	that	that	SCONJ
fsr-3892	150	4	the	the	DET
fsr-3892	150	5	distributions	distribution	NOUN
fsr-3892	150	6	have	have	VERB
fsr-3892	150	7	more	more	ADJ
fsr-3892	150	8	mass	mass	NOUN
fsr-3892	150	9	in	in	ADP
fsr-3892	150	10	the	the	DET
fsr-3892	150	11	tail	tail	NOUN
fsr-3892	150	12	areas	area	NOUN
fsr-3892	150	13	than	than	SCONJ
fsr-3892	150	14	would	would	AUX
fsr-3892	150	15	be	be	AUX
fsr-3892	150	16	predicted	predict	VERB
fsr-3892	150	17	by	by	ADP
fsr-3892	150	18	a	a	DET
fsr-3892	150	19	normal	normal	ADJ
fsr-3892	150	20	distribution	distribution	NOUN
fsr-3892	150	21	.	.	PUNCT
fsr-3892	151	1	therefore	therefore	ADV
fsr-3892	151	2	,	,	PUNCT
fsr-3892	151	3	investors	investor	NOUN
fsr-3892	151	4	in	in	ADP
fsr-3892	151	5	these	these	DET
fsr-3892	151	6	funds	fund	NOUN
fsr-3892	151	7	table	table	NOUN
fsr-3892	151	8	3	3	NUM
fsr-3892	151	9	first	first	ADJ
fsr-3892	151	10	four	four	NUM
fsr-3892	151	11	moments	moment	NOUN
fsr-3892	151	12	of	of	ADP
fsr-3892	151	13	monthly	monthly	ADJ
fsr-3892	151	14	excess	excess	ADJ
fsr-3892	151	15	returns	return	NOUN
fsr-3892	151	16	of	of	ADP
fsr-3892	151	17	mutual	mutual	ADJ
fsr-3892	151	18	fund	fund	NOUN
fsr-3892	151	19	indexes	index	NOUN
fsr-3892	151	20	and	and	CCONJ
fsr-3892	151	21	sharpe	sharpe	PROPN
fsr-3892	151	22	ratios	ratios	PROPN
fsr-3892	151	23	index	index	NOUN
fsr-3892	151	24	mean	mean	VERB
fsr-3892	151	25	%	%	PROPN
fsr-3892	151	26	st	st	PROPN
fsr-3892	151	27	.	.	PROPN
fsr-3892	151	28	dev	dev	PROPN
fsr-3892	151	29	.	.	PUNCT
fsr-3892	152	1	%	%	PROPN
fsr-3892	152	2	skewness	skewness	NOUN
fsr-3892	152	3	excess	excess	ADJ
fsr-3892	152	4	kurtosis	kurtosis	NOUN
fsr-3892	152	5	sharpe	sharpe	PROPN
fsr-3892	152	6	ratio	ratio	PROPN
fsr-3892	152	7	us	we	PRON
fsr-3892	152	8	indexes	index	VERB
fsr-3892	152	9	us	we	PRON
fsr-3892	152	10	balanced	balanced	ADJ
fsr-3892	152	11	total	total	NOUN
fsr-3892	152	12	0.4550	0.4550	NUM
fsr-3892	152	13	2.8011	2.8011	NUM
fsr-3892	152	14	20.65016	20.65016	NUM
fsr-3892	152	15	*	*	PUNCT
fsr-3892	152	16	2.3987	2.3987	NUM
fsr-3892	152	17	*	*	SYM
fsr-3892	152	18	0.1624	0.1624	NUM
fsr-3892	152	19	expansive	expansive	ADJ
fsr-3892	152	20	0.7485	0.7485	NUM
fsr-3892	152	21	2.5568	2.5568	NUM
fsr-3892	152	22	20.08779	20.08779	NUM
fsr-3892	152	23	1.3324	1.3324	NUM
fsr-3892	152	24	*	*	SYM
fsr-3892	152	25	0.2928	0.2928	NUM
fsr-3892	152	26	restrictive	restrictive	ADJ
fsr-3892	152	27	0.0273	0.0273	NUM
fsr-3892	152	28	3.0966	3.0966	NUM
fsr-3892	152	29	21.25359	21.25359	NUM
fsr-3892	152	30	*	*	PUNCT
fsr-3892	153	1	2.5995	2.5995	NUM
fsr-3892	153	2	*	*	PUNCT
fsr-3892	153	3	0.0089	0.0089	NUM
fsr-3892	153	4	us	us	PROPN
fsr-3892	153	5	growth	growth	NOUN
fsr-3892	153	6	&	&	CCONJ
fsr-3892	153	7	income	income	PROPN
fsr-3892	153	8	total	total	VERB
fsr-3892	153	9	0.6014	0.6014	NUM
fsr-3892	153	10	3.8394	3.8394	NUM
fsr-3892	153	11	20.84386	20.84386	NUM
fsr-3892	153	12	*	*	PUNCT
fsr-3892	154	1	3.5475	3.5475	NUM
fsr-3892	154	2	*	*	PUNCT
fsr-3892	154	3	0.1566	0.1566	NUM
fsr-3892	154	4	expansive	expansive	ADJ
fsr-3892	154	5	0.9660	0.9660	NUM
fsr-3892	154	6	3.5282	3.5282	NUM
fsr-3892	154	7	20.43631	20.43631	NUM
fsr-3892	154	8	*	*	PUNCT
fsr-3892	155	1	2.0961	2.0961	NUM
fsr-3892	155	2	*	*	SYM
fsr-3892	155	3	0.2738	0.2738	NUM
fsr-3892	155	4	restrictive	restrictive	ADJ
fsr-3892	155	5	0.0884	0.0884	NUM
fsr-3892	155	6	4.2917	4.2917	NUM
fsr-3892	155	7	21.14309	21.14309	NUM
fsr-3892	155	8	*	*	PUNCT
fsr-3892	155	9	3.4793	3.4793	NUM
fsr-3892	155	10	*	*	SYM
fsr-3892	155	11	0.0206	0.0206	NUM
fsr-3892	155	12	international	international	ADJ
fsr-3892	155	13	indexes	index	NOUN
fsr-3892	155	14	world	world	NOUN
fsr-3892	155	15	total	total	VERB
fsr-3892	155	16	0.6025	0.6025	NUM
fsr-3892	155	17	4.1841	4.1841	NUM
fsr-3892	155	18	21.18929	21.18929	NUM
fsr-3892	155	19	*	*	PUNCT
fsr-3892	155	20	4.2607	4.2607	NUM
fsr-3892	155	21	*	*	NOUN
fsr-3892	155	22	0.1440	0.1440	NUM
fsr-3892	155	23	expansive	expansive	ADJ
fsr-3892	155	24	1.0290	1.0290	NUM
fsr-3892	155	25	3.6920	3.6920	NUM
fsr-3892	155	26	20.77808	20.77808	NUM
fsr-3892	155	27	*	*	PUNCT
fsr-3892	156	1	2.4189	2.4189	NUM
fsr-3892	156	2	*	*	SYM
fsr-3892	156	3	0.2787	0.2787	NUM
fsr-3892	156	4	restrictive	restrictive	ADJ
fsr-3892	156	5	0.0111	0.0111	NUM
fsr-3892	156	6	4.8053	4.8053	NUM
fsr-3892	156	7	21.37309	21.37309	NUM
fsr-3892	156	8	*	*	SYM
fsr-3892	156	9	3.9742	3.9742	NUM
fsr-3892	156	10	*	*	SYM
fsr-3892	156	11	0.0023	0.0023	NUM
fsr-3892	156	12	div	div	PROPN
fsr-3892	156	13	.	.	PUNCT
fsr-3892	157	1	emerging	emerge	VERB
fsr-3892	157	2	markets	market	NOUN
fsr-3892	157	3	total	total	VERB
fsr-3892	157	4	0.2995	0.2995	NUM
fsr-3892	157	5	5.7242	5.7242	NUM
fsr-3892	157	6	21.17958	21.17958	NUM
fsr-3892	157	7	*	*	SYM
fsr-3892	157	8	4.1321	4.1321	NUM
fsr-3892	157	9	*	*	SYM
fsr-3892	157	10	0.0523	0.0523	NUM
fsr-3892	157	11	expansive	expansive	ADJ
fsr-3892	157	12	0.5317	0.5317	NUM
fsr-3892	157	13	5.4097	5.4097	NUM
fsr-3892	157	14	21.30914	21.30914	NUM
fsr-3892	157	15	*	*	NOUN
fsr-3892	157	16	5.5130	5.5130	NUM
fsr-3892	157	17	*	*	SYM
fsr-3892	157	18	0.0983	0.0983	NUM
fsr-3892	157	19	restrictive	restrictive	ADJ
fsr-3892	157	20	20.0676	20.0676	NUM
fsr-3892	157	21	6.2520	6.2520	NUM
fsr-3892	157	22	21.00430	21.00430	NUM
fsr-3892	157	23	*	*	PUNCT
fsr-3892	157	24	2.6243	2.6243	NUM
fsr-3892	157	25	*	*	SYM
fsr-3892	157	26	20.0108	20.0108	NUM
fsr-3892	157	27	foreign	foreign	ADJ
fsr-3892	157	28	total	total	ADJ
fsr-3892	157	29	0.4838	0.4838	NUM
fsr-3892	157	30	4.0568	4.0568	NUM
fsr-3892	157	31	21.04231	21.04231	NUM
fsr-3892	157	32	*	*	PUNCT
fsr-3892	157	33	4.0158	4.0158	NUM
fsr-3892	157	34	*	*	SYM
fsr-3892	157	35	0.1193	0.1193	NUM
fsr-3892	157	36	expansive	expansive	ADJ
fsr-3892	157	37	0.9777	0.9777	NUM
fsr-3892	157	38	3.7638	3.7638	NUM
fsr-3892	157	39	20.83259	20.83259	NUM
fsr-3892	157	40	*	*	PUNCT
fsr-3892	157	41	2.1898	2.1898	NUM
fsr-3892	157	42	*	*	SYM
fsr-3892	157	43	0.2598	0.2598	NUM
fsr-3892	157	44	restrictive	restrictive	ADJ
fsr-3892	157	45	20.2197	20.2197	NUM
fsr-3892	157	46	4.4192	4.4192	NUM
fsr-3892	157	47	21.67300	21.67300	NUM
fsr-3892	157	48	*	*	SYM
fsr-3892	157	49	5.6920	5.6920	NUM
fsr-3892	157	50	*	*	SYM
fsr-3892	157	51	20.0497	20.0497	NUM
fsr-3892	157	52	multi	multi	ADJ
fsr-3892	157	53	-	-	ADJ
fsr-3892	157	54	asset	asset	ADJ
fsr-3892	157	55	global	global	ADJ
fsr-3892	157	56	total	total	NOUN
fsr-3892	157	57	0.4331	0.4331	NUM
fsr-3892	157	58	2.9166	2.9166	NUM
fsr-3892	157	59	21.12913	21.12913	NUM
fsr-3892	157	60	*	*	PUNCT
fsr-3892	157	61	5.5812	5.5812	NUM
fsr-3892	157	62	*	*	NOUN
fsr-3892	157	63	0.1485	0.1485	NUM
fsr-3892	157	64	expansive	expansive	ADJ
fsr-3892	157	65	0.7902	0.7902	NUM
fsr-3892	157	66	2.4834	2.4834	NUM
fsr-3892	157	67	0.12967	0.12967	NUM
fsr-3892	157	68	1.1254	1.1254	NUM
fsr-3892	157	69	*	*	PUNCT
fsr-3892	157	70	0.3182	0.3182	NUM
fsr-3892	157	71	restrictive	restrictive	ADJ
fsr-3892	157	72	20.1189	20.1189	NUM
fsr-3892	157	73	3.4027	3.4027	NUM
fsr-3892	157	74	21.54121	21.54121	NUM
fsr-3892	157	75	*	*	PUNCT
fsr-3892	158	1	5.4171	5.4171	NUM
fsr-3892	158	2	*	*	SYM
fsr-3892	158	3	20.0349	20.0349	NUM
fsr-3892	158	4	diversified	diversify	VERB
fsr-3892	158	5	asia	asia	PROPN
fsr-3892	158	6	/	/	SYM
fsr-3892	158	7	pacific	pacific	PROPN
fsr-3892	158	8	total	total	NOUN
fsr-3892	158	9	0.4036	0.4036	NUM
fsr-3892	158	10	5.4497	5.4497	NUM
fsr-3892	158	11	20.35636	20.35636	NUM
fsr-3892	158	12	*	*	NOUN
fsr-3892	158	13	1.0417	1.0417	NUM
fsr-3892	158	14	*	*	SYM
fsr-3892	158	15	0.0741	0.0741	NUM
fsr-3892	158	16	expansive	expansive	ADJ
fsr-3892	158	17	0.7097	0.7097	NUM
fsr-3892	158	18	5.2129	5.2129	NUM
fsr-3892	158	19	20.33147	20.33147	NUM
fsr-3892	158	20	0.9290	0.9290	NUM
fsr-3892	158	21	*	*	PUNCT
fsr-3892	159	1	0.1361	0.1361	NUM
fsr-3892	159	2	restrictive	restrictive	ADJ
fsr-3892	159	3	20.2145	20.2145	NUM
fsr-3892	159	4	5.7949	5.7949	NUM
fsr-3892	159	5	20.30478	20.30478	NUM
fsr-3892	159	6	1.0145	1.0145	NUM
fsr-3892	159	7	*	*	SYM
fsr-3892	159	8	20.0370	20.0370	NUM
fsr-3892	160	1	*	*	PUNCT
fsr-3892	160	2	significant	significant	ADJ
fsr-3892	160	3	at	at	ADP
fsr-3892	160	4	the	the	DET
fsr-3892	160	5	5	5	NUM
fsr-3892	160	6	%	%	NOUN
fsr-3892	160	7	level	level	NOUN
fsr-3892	160	8	.	.	PUNCT
fsr-3892	161	1	206	206	NUM
fsr-3892	161	2	r.r	r.r	PROPN
fsr-3892	161	3	.	.	PROPN
fsr-3892	161	4	johnson	johnson	PROPN
fsr-3892	161	5	et	et	PROPN
fsr-3892	161	6	al	al	PROPN
fsr-3892	161	7	.	.	PUNCT
fsr-3892	161	8	/	/	SYM
fsr-3892	161	9	financial	financial	ADJ
fsr-3892	161	10	services	service	NOUN
fsr-3892	161	11	review	review	VERB
fsr-3892	161	12	8	8	NUM
fsr-3892	161	13	(	(	PUNCT
fsr-3892	161	14	1999	1999	NUM
fsr-3892	161	15	)	)	PUNCT
fsr-3892	162	1	199–210	199–210	NUM
fsr-3892	162	2	would	would	AUX
fsr-3892	162	3	have	have	VERB
fsr-3892	162	4	a	a	DET
fsr-3892	162	5	greater	great	ADJ
fsr-3892	162	6	probability	probability	NOUN
fsr-3892	162	7	of	of	ADP
fsr-3892	162	8	realizing	realize	VERB
fsr-3892	162	9	larger	large	ADJ
fsr-3892	162	10	positive	positive	ADJ
fsr-3892	162	11	or	or	CCONJ
fsr-3892	162	12	negative	negative	ADJ
fsr-3892	162	13	excess	excess	ADJ
fsr-3892	162	14	returns	return	NOUN
fsr-3892	162	15	than	than	SCONJ
fsr-3892	162	16	predicted	predict	VERB
fsr-3892	162	17	using	use	VERB
fsr-3892	162	18	a	a	DET
fsr-3892	162	19	normal	normal	ADJ
fsr-3892	162	20	distribution	distribution	NOUN
fsr-3892	162	21	.	.	PUNCT
fsr-3892	163	1	a	a	DET
fsr-3892	163	2	pattern	pattern	NOUN
fsr-3892	163	3	in	in	ADP
fsr-3892	163	4	excess	excess	ADJ
fsr-3892	163	5	kurtosis	kurtosis	NOUN
fsr-3892	163	6	is	be	AUX
fsr-3892	163	7	also	also	ADV
fsr-3892	163	8	evident	evident	ADJ
fsr-3892	163	9	.	.	PUNCT
fsr-3892	164	1	with	with	ADP
fsr-3892	164	2	the	the	DET
fsr-3892	164	3	exception	exception	NOUN
fsr-3892	164	4	of	of	ADP
fsr-3892	164	5	the	the	DET
fsr-3892	164	6	diversified	diversified	ADJ
fsr-3892	164	7	emerging	emerge	VERB
fsr-3892	164	8	markets	market	NOUN
fsr-3892	164	9	index	index	NOUN
fsr-3892	164	10	,	,	PUNCT
fsr-3892	164	11	each	each	DET
fsr-3892	164	12	index	index	NOUN
fsr-3892	164	13	exhibits	exhibit	VERB
fsr-3892	164	14	greater	great	ADJ
fsr-3892	164	15	excess	excess	ADJ
fsr-3892	164	16	kurtosis	kurtosis	NOUN
fsr-3892	164	17	in	in	ADP
fsr-3892	164	18	restrictive	restrictive	ADJ
fsr-3892	164	19	periods	period	NOUN
fsr-3892	164	20	than	than	ADP
fsr-3892	164	21	expansive	expansive	ADJ
fsr-3892	164	22	periods	period	NOUN
fsr-3892	164	23	.	.	PUNCT
fsr-3892	165	1	thus	thus	ADV
fsr-3892	165	2	,	,	PUNCT
fsr-3892	165	3	the	the	DET
fsr-3892	165	4	leptokurtic	leptokurtic	ADJ
fsr-3892	165	5	nature	nature	NOUN
fsr-3892	165	6	of	of	ADP
fsr-3892	165	7	the	the	DET
fsr-3892	165	8	distributions	distribution	NOUN
fsr-3892	165	9	is	be	AUX
fsr-3892	165	10	less	less	ADV
fsr-3892	165	11	pronounced	pronounced	ADJ
fsr-3892	165	12	in	in	ADP
fsr-3892	165	13	expansive	expansive	ADJ
fsr-3892	165	14	periods	period	NOUN
fsr-3892	165	15	as	as	SCONJ
fsr-3892	165	16	compared	compare	VERB
fsr-3892	165	17	to	to	ADP
fsr-3892	165	18	restrictive	restrictive	ADJ
fsr-3892	165	19	periods	period	NOUN
fsr-3892	165	20	.	.	PUNCT
fsr-3892	166	1	interpreting	interpret	VERB
fsr-3892	166	2	only	only	ADV
fsr-3892	166	3	the	the	DET
fsr-3892	166	4	first	first	ADJ
fsr-3892	166	5	two	two	NUM
fsr-3892	166	6	moments	moment	NOUN
fsr-3892	166	7	suggested	suggest	VERB
fsr-3892	166	8	that	that	SCONJ
fsr-3892	166	9	the	the	DET
fsr-3892	166	10	restrictive	restrictive	ADJ
fsr-3892	166	11	periods	period	NOUN
fsr-3892	166	12	offer	offer	VERB
fsr-3892	166	13	both	both	CCONJ
fsr-3892	166	14	lower	low	ADJ
fsr-3892	166	15	returns	return	NOUN
fsr-3892	166	16	and	and	CCONJ
fsr-3892	166	17	higher	high	ADJ
fsr-3892	166	18	variability	variability	NOUN
fsr-3892	166	19	.	.	PUNCT
fsr-3892	167	1	although	although	SCONJ
fsr-3892	167	2	this	this	DET
fsr-3892	167	3	conclusion	conclusion	NOUN
fsr-3892	167	4	is	be	AUX
fsr-3892	167	5	valid	valid	ADJ
fsr-3892	167	6	,	,	PUNCT
fsr-3892	167	7	the	the	DET
fsr-3892	167	8	skewness	skewness	NOUN
fsr-3892	167	9	and	and	CCONJ
fsr-3892	167	10	kurtosis	kurtosis	VERB
fsr-3892	167	11	results	result	NOUN
fsr-3892	167	12	imply	imply	VERB
fsr-3892	167	13	that	that	SCONJ
fsr-3892	167	14	the	the	DET
fsr-3892	167	15	restrictive	restrictive	ADJ
fsr-3892	167	16	period	period	NOUN
fsr-3892	167	17	is	be	AUX
fsr-3892	167	18	even	even	ADV
fsr-3892	167	19	more	more	ADV
fsr-3892	167	20	risky	risky	ADJ
fsr-3892	167	21	than	than	SCONJ
fsr-3892	167	22	this	this	DET
fsr-3892	167	23	initial	initial	ADJ
fsr-3892	167	24	analysis	analysis	NOUN
fsr-3892	167	25	suggested	suggest	VERB
fsr-3892	167	26	.	.	PUNCT
fsr-3892	168	1	during	during	ADP
fsr-3892	168	2	a	a	DET
fsr-3892	168	3	restrictive	restrictive	ADJ
fsr-3892	168	4	monetary	monetary	ADJ
fsr-3892	168	5	environment	environment	NOUN
fsr-3892	168	6	the	the	DET
fsr-3892	168	7	probability	probability	NOUN
fsr-3892	168	8	of	of	ADP
fsr-3892	168	9	realizing	realize	VERB
fsr-3892	168	10	a	a	DET
fsr-3892	168	11	large	large	ADJ
fsr-3892	168	12	negative	negative	ADJ
fsr-3892	168	13	return	return	NOUN
fsr-3892	168	14	is	be	AUX
fsr-3892	168	15	much	much	ADV
fsr-3892	168	16	larger	large	ADJ
fsr-3892	168	17	than	than	ADP
fsr-3892	168	18	that	that	PRON
fsr-3892	168	19	suggested	suggest	VERB
fsr-3892	168	20	by	by	ADP
fsr-3892	168	21	the	the	DET
fsr-3892	168	22	normal	normal	ADJ
fsr-3892	168	23	distribution	distribution	NOUN
fsr-3892	168	24	.	.	PUNCT
fsr-3892	169	1	additionally	additionally	ADV
fsr-3892	169	2	,	,	PUNCT
fsr-3892	169	3	the	the	DET
fsr-3892	169	4	probability	probability	NOUN
fsr-3892	169	5	of	of	ADP
fsr-3892	169	6	realizing	realize	VERB
fsr-3892	169	7	a	a	DET
fsr-3892	169	8	large	large	ADJ
fsr-3892	169	9	negative	negative	ADJ
fsr-3892	169	10	return	return	NOUN
fsr-3892	169	11	during	during	ADP
fsr-3892	169	12	a	a	DET
fsr-3892	169	13	restrictive	restrictive	ADJ
fsr-3892	169	14	environment	environment	NOUN
fsr-3892	169	15	is	be	AUX
fsr-3892	169	16	larger	large	ADJ
fsr-3892	169	17	than	than	ADP
fsr-3892	169	18	during	during	ADP
fsr-3892	169	19	an	an	DET
fsr-3892	169	20	expansive	expansive	ADJ
fsr-3892	169	21	environment	environment	NOUN
fsr-3892	169	22	.	.	PUNCT
fsr-3892	170	1	these	these	DET
fsr-3892	170	2	findings	finding	NOUN
fsr-3892	170	3	further	far	ADV
fsr-3892	170	4	distinguish	distinguish	VERB
fsr-3892	170	5	the	the	DET
fsr-3892	170	6	behavior	behavior	NOUN
fsr-3892	170	7	of	of	ADP
fsr-3892	170	8	security	security	NOUN
fsr-3892	170	9	returns	return	NOUN
fsr-3892	170	10	during	during	ADP
fsr-3892	170	11	the	the	DET
fsr-3892	170	12	two	two	NUM
fsr-3892	170	13	monetary	monetary	ADJ
fsr-3892	170	14	policy	policy	NOUN
fsr-3892	170	15	environments	environment	NOUN
fsr-3892	170	16	and	and	CCONJ
fsr-3892	170	17	have	have	VERB
fsr-3892	170	18	important	important	ADJ
fsr-3892	170	19	investment	investment	NOUN
fsr-3892	170	20	implications	implication	NOUN
fsr-3892	170	21	.	.	PUNCT
fsr-3892	171	1	consistent	consistent	ADJ
fsr-3892	171	2	with	with	ADP
fsr-3892	171	3	previous	previous	ADJ
fsr-3892	171	4	researchers	researcher	NOUN
fsr-3892	171	5	,	,	PUNCT
fsr-3892	171	6	the	the	DET
fsr-3892	171	7	results	result	NOUN
fsr-3892	171	8	presented	present	VERB
fsr-3892	171	9	in	in	ADP
fsr-3892	171	10	table	table	NOUN
fsr-3892	171	11	3	3	NUM
fsr-3892	171	12	show	show	VERB
fsr-3892	171	13	that	that	SCONJ
fsr-3892	171	14	the	the	DET
fsr-3892	171	15	security	security	NOUN
fsr-3892	171	16	returns	return	NOUN
fsr-3892	171	17	are	be	AUX
fsr-3892	171	18	not	not	PART
fsr-3892	171	19	normal	normal	ADJ
fsr-3892	171	20	;	;	PUNCT
fsr-3892	171	21	they	they	PRON
fsr-3892	171	22	also	also	ADV
fsr-3892	171	23	suggest	suggest	VERB
fsr-3892	171	24	that	that	SCONJ
fsr-3892	171	25	the	the	DET
fsr-3892	171	26	investment	investment	NOUN
fsr-3892	171	27	environment	environment	NOUN
fsr-3892	171	28	is	be	AUX
fsr-3892	171	29	far	far	ADV
fsr-3892	171	30	more	more	ADV
fsr-3892	171	31	risky	risky	ADJ
fsr-3892	171	32	than	than	SCONJ
fsr-3892	171	33	the	the	DET
fsr-3892	171	34	normal	normal	ADJ
fsr-3892	171	35	distribution	distribution	NOUN
fsr-3892	171	36	would	would	AUX
fsr-3892	171	37	indicate	indicate	VERB
fsr-3892	171	38	.	.	PUNCT
fsr-3892	172	1	the	the	DET
fsr-3892	172	2	investor	investor	NOUN
fsr-3892	172	3	would	would	AUX
fsr-3892	172	4	be	be	AUX
fsr-3892	172	5	wise	wise	ADJ
fsr-3892	172	6	to	to	PART
fsr-3892	172	7	adopt	adopt	VERB
fsr-3892	172	8	a	a	DET
fsr-3892	172	9	tactical	tactical	ADJ
fsr-3892	172	10	asset	asset	NOUN
fsr-3892	172	11	allocation	allocation	NOUN
fsr-3892	172	12	strategy	strategy	NOUN
fsr-3892	172	13	moving	move	VERB
fsr-3892	172	14	assets	asset	NOUN
fsr-3892	172	15	away	away	ADV
fsr-3892	172	16	from	from	ADP
fsr-3892	172	17	those	those	DET
fsr-3892	172	18	categories	category	NOUN
fsr-3892	172	19	that	that	PRON
fsr-3892	172	20	are	be	AUX
fsr-3892	172	21	most	most	ADV
fsr-3892	172	22	negatively	negatively	ADV
fsr-3892	172	23	affected	affect	VERB
fsr-3892	172	24	by	by	ADP
fsr-3892	172	25	the	the	DET
fsr-3892	172	26	monetary	monetary	ADJ
fsr-3892	172	27	policy	policy	NOUN
fsr-3892	172	28	environment	environment	NOUN
fsr-3892	172	29	.	.	PUNCT
fsr-3892	173	1	as	as	SCONJ
fsr-3892	173	2	shown	show	VERB
fsr-3892	173	3	in	in	ADP
fsr-3892	173	4	table	table	NOUN
fsr-3892	173	5	4	4	NUM
fsr-3892	173	6	,	,	PUNCT
fsr-3892	173	7	using	use	VERB
fsr-3892	173	8	a	a	DET
fsr-3892	173	9	simplet	simplet	NOUN
fsr-3892	173	10	-	-	PUNCT
fsr-3892	173	11	test	test	NOUN
fsr-3892	173	12	for	for	ADP
fsr-3892	173	13	differences	difference	NOUN
fsr-3892	173	14	in	in	ADP
fsr-3892	173	15	means	mean	NOUN
fsr-3892	173	16	assuming	assume	VERB
fsr-3892	173	17	unequal	unequal	ADJ
fsr-3892	173	18	variances	variance	NOUN
fsr-3892	173	19	,	,	PUNCT
fsr-3892	173	20	the	the	DET
fsr-3892	173	21	differences	difference	NOUN
fsr-3892	173	22	in	in	ADP
fsr-3892	173	23	mean	mean	ADJ
fsr-3892	173	24	excess	excess	ADJ
fsr-3892	173	25	returns	return	NOUN
fsr-3892	173	26	during	during	ADP
fsr-3892	173	27	expansive	expansive	ADJ
fsr-3892	173	28	and	and	CCONJ
fsr-3892	173	29	restrictive	restrictive	ADJ
fsr-3892	173	30	monetary	monetary	ADJ
fsr-3892	173	31	environments	environment	NOUN
fsr-3892	173	32	are	be	AUX
fsr-3892	173	33	statistically	statistically	ADV
fsr-3892	173	34	significant	significant	ADJ
fsr-3892	173	35	at	at	ADP
fsr-3892	173	36	the	the	DET
fsr-3892	173	37	5	5	NUM
fsr-3892	173	38	%	%	NOUN
fsr-3892	173	39	level	level	NOUN
fsr-3892	173	40	for	for	ADP
fsr-3892	173	41	five	five	NUM
fsr-3892	173	42	of	of	ADP
fsr-3892	173	43	the	the	DET
fsr-3892	173	44	seven	seven	NUM
fsr-3892	173	45	indexes	index	NOUN
fsr-3892	173	46	examined	examine	VERB
fsr-3892	173	47	.	.	PUNCT
fsr-3892	174	1	the	the	DET
fsr-3892	174	2	magnitudes	magnitude	NOUN
fsr-3892	174	3	of	of	ADP
fsr-3892	174	4	the	the	DET
fsr-3892	174	5	differences	difference	NOUN
fsr-3892	174	6	are	be	AUX
fsr-3892	174	7	not	not	PART
fsr-3892	174	8	only	only	ADV
fsr-3892	174	9	statistically	statistically	ADV
fsr-3892	174	10	significant	significant	ADJ
fsr-3892	174	11	,	,	PUNCT
fsr-3892	174	12	but	but	CCONJ
fsr-3892	174	13	are	be	AUX
fsr-3892	174	14	economically	economically	ADV
fsr-3892	174	15	significant	significant	ADJ
fsr-3892	174	16	.	.	PUNCT
fsr-3892	175	1	on	on	ADP
fsr-3892	175	2	an	an	DET
fsr-3892	175	3	annualized	annualize	VERB
fsr-3892	175	4	basis	basis	NOUN
fsr-3892	175	5	,	,	PUNCT
fsr-3892	175	6	the	the	DET
fsr-3892	175	7	excess	excess	ADJ
fsr-3892	175	8	return	return	NOUN
fsr-3892	175	9	differences	difference	NOUN
fsr-3892	175	10	range	range	VERB
fsr-3892	175	11	from	from	ADP
fsr-3892	175	12	a	a	DET
fsr-3892	175	13	high	high	NOUN
fsr-3892	175	14	of	of	ADP
fsr-3892	175	15	14.37	14.37	NUM
fsr-3892	175	16	%	%	NOUN
fsr-3892	175	17	for	for	ADP
fsr-3892	175	18	the	the	DET
fsr-3892	175	19	foreign	foreign	ADJ
fsr-3892	175	20	stock	stock	NOUN
fsr-3892	175	21	index	index	NOUN
fsr-3892	175	22	to	to	ADP
fsr-3892	175	23	a	a	DET
fsr-3892	175	24	low	low	NOUN
fsr-3892	175	25	of	of	ADP
fsr-3892	175	26	7.19	7.19	NUM
fsr-3892	175	27	%	%	NOUN
fsr-3892	175	28	for	for	ADP
fsr-3892	175	29	the	the	DET
fsr-3892	175	30	diversified	diversified	ADJ
fsr-3892	175	31	emerging	emerge	VERB
fsr-3892	175	32	market	market	NOUN
fsr-3892	175	33	index	index	NOUN
fsr-3892	175	34	.	.	PUNCT
fsr-3892	176	1	curiously	curiously	ADV
fsr-3892	176	2	,	,	PUNCT
fsr-3892	176	3	with	with	ADP
fsr-3892	176	4	the	the	DET
fsr-3892	176	5	exception	exception	NOUN
fsr-3892	176	6	of	of	ADP
fsr-3892	176	7	the	the	DET
fsr-3892	176	8	world	world	NOUN
fsr-3892	176	9	stock	stock	PROPN
fsr-3892	176	10	index	index	PROPN
fsr-3892	176	11	,	,	PUNCT
fsr-3892	176	12	all	all	PRON
fsr-3892	176	13	of	of	ADP
fsr-3892	176	14	the	the	DET
fsr-3892	176	15	international	international	ADJ
fsr-3892	176	16	table	table	NOUN
fsr-3892	176	17	4	4	NUM
fsr-3892	176	18	tests	test	NOUN
fsr-3892	176	19	for	for	ADP
fsr-3892	176	20	differences	difference	NOUN
fsr-3892	176	21	in	in	ADP
fsr-3892	176	22	returns	return	NOUN
fsr-3892	176	23	and	and	CCONJ
fsr-3892	176	24	risk	risk	NOUN
fsr-3892	176	25	between	between	ADP
fsr-3892	176	26	expansive	expansive	ADJ
fsr-3892	176	27	and	and	CCONJ
fsr-3892	176	28	restrictive	restrictive	ADJ
fsr-3892	176	29	monetary	monetary	ADJ
fsr-3892	176	30	policy	policy	NOUN
fsr-3892	176	31	periods	period	NOUN
fsr-3892	176	32	index	index	NOUN
fsr-3892	176	33	difference	difference	NOUN
fsr-3892	176	34	in	in	ADP
fsr-3892	176	35	mean	mean	ADJ
fsr-3892	176	36	monthly	monthly	ADJ
fsr-3892	176	37	excess	excess	ADJ
fsr-3892	176	38	returns	return	NOUN
fsr-3892	176	39	(	(	PUNCT
fsr-3892	176	40	t	t	NOUN
fsr-3892	176	41	-	-	PUNCT
fsr-3892	176	42	statistic	statistic	NOUN
fsr-3892	176	43	)	)	PUNCT
fsr-3892	176	44	difference	difference	NOUN
fsr-3892	176	45	in	in	ADP
fsr-3892	176	46	standard	standard	ADJ
fsr-3892	176	47	deviation	deviation	NOUN
fsr-3892	176	48	of	of	ADP
fsr-3892	176	49	mean	mean	ADJ
fsr-3892	176	50	monthly	monthly	ADJ
fsr-3892	176	51	excess	excess	ADJ
fsr-3892	176	52	returns	return	NOUN
fsr-3892	176	53	(	(	PUNCT
fsr-3892	176	54	f	f	X
fsr-3892	176	55	-	-	PUNCT
fsr-3892	176	56	statistic	statistic	NOUN
fsr-3892	176	57	)	)	PUNCT
fsr-3892	176	58	us	we	PRON
fsr-3892	176	59	indexes	index	VERB
fsr-3892	176	60	us	we	PRON
fsr-3892	176	61	balanced	balance	VERB
fsr-3892	176	62	0.7212	0.7212	NUM
fsr-3892	176	63	20.5398	20.5398	NUM
fsr-3892	176	64	(	(	PUNCT
fsr-3892	176	65	1.97	1.97	NUM
fsr-3892	176	66	)	)	PUNCT
fsr-3892	176	67	*	*	PUNCT
fsr-3892	176	68	(	(	PUNCT
fsr-3892	176	69	0.68	0.68	NUM
fsr-3892	176	70	)	)	PUNCT
fsr-3892	176	71	*	*	PUNCT
fsr-3892	176	72	us	us	PROPN
fsr-3892	176	73	growth	growth	NOUN
fsr-3892	176	74	&	&	CCONJ
fsr-3892	176	75	income	income	VERB
fsr-3892	176	76	0.8776	0.8776	NUM
fsr-3892	176	77	20.7635	20.7635	NUM
fsr-3892	176	78	(	(	PUNCT
fsr-3892	176	79	1.73	1.73	NUM
fsr-3892	176	80	)	)	PUNCT
fsr-3892	176	81	*	*	PUNCT
fsr-3892	176	82	(	(	PUNCT
fsr-3892	176	83	0.68	0.68	NUM
fsr-3892	176	84	)	)	PUNCT
fsr-3892	176	85	*	*	PUNCT
fsr-3892	176	86	international	international	ADJ
fsr-3892	176	87	indexes	index	NOUN
fsr-3892	176	88	world	world	NOUN
fsr-3892	176	89	1.0178	1.0178	NUM
fsr-3892	176	90	21.1133	21.1133	NUM
fsr-3892	176	91	(	(	PUNCT
fsr-3892	176	92	1.83	1.83	NUM
fsr-3892	176	93	)	)	PUNCT
fsr-3892	176	94	*	*	PUNCT
fsr-3892	176	95	(	(	PUNCT
fsr-3892	176	96	0.59	0.59	NUM
fsr-3892	176	97	)	)	PUNCT
fsr-3892	176	98	*	*	PUNCT
fsr-3892	177	1	diversified	diversify	VERB
fsr-3892	177	2	emerging	emerge	VERB
fsr-3892	177	3	markets	market	NOUN
fsr-3892	177	4	0.5993	0.5993	NUM
fsr-3892	177	5	20.8423	20.8423	NUM
fsr-3892	177	6	(	(	PUNCT
fsr-3892	177	7	0.80	0.80	NUM
fsr-3892	177	8	)	)	PUNCT
fsr-3892	177	9	(	(	PUNCT
fsr-3892	177	10	0.75	0.75	NUM
fsr-3892	177	11	)	)	PUNCT
fsr-3892	177	12	foreign	foreign	NOUN
fsr-3892	177	13	1.1974	1.1974	NUM
fsr-3892	177	14	20.6554	20.6554	NUM
fsr-3892	177	15	(	(	PUNCT
fsr-3892	177	16	2.27	2.27	NUM
fsr-3892	177	17	)	)	PUNCT
fsr-3892	177	18	*	*	PUNCT
fsr-3892	177	19	(	(	PUNCT
fsr-3892	177	20	0.73	0.73	NUM
fsr-3892	177	21	)	)	PUNCT
fsr-3892	177	22	*	*	PUNCT
fsr-3892	177	23	multi	multi	ADJ
fsr-3892	177	24	-	-	ADJ
fsr-3892	177	25	asset	asset	ADJ
fsr-3892	177	26	global	global	ADJ
fsr-3892	177	27	0.9091	0.9091	NUM
fsr-3892	177	28	20.9193	20.9193	NUM
fsr-3892	177	29	(	(	PUNCT
fsr-3892	177	30	2.35	2.35	NUM
fsr-3892	177	31	)	)	PUNCT
fsr-3892	177	32	*	*	PUNCT
fsr-3892	177	33	(	(	PUNCT
fsr-3892	177	34	0.54	0.54	NUM
fsr-3892	177	35	)	)	PUNCT
fsr-3892	177	36	*	*	VERB
fsr-3892	177	37	diversified	diversify	VERB
fsr-3892	177	38	asia	asia	PROPN
fsr-3892	177	39	/	/	SYM
fsr-3892	177	40	pacific	pacific	PROPN
fsr-3892	177	41	0.9242	0.9242	NUM
fsr-3892	177	42	20.5820	20.5820	NUM
fsr-3892	177	43	(	(	PUNCT
fsr-3892	177	44	1.31	1.31	NUM
fsr-3892	177	45	)	)	PUNCT
fsr-3892	177	46	(	(	PUNCT
fsr-3892	177	47	0.81	0.81	NUM
fsr-3892	177	48	)	)	PUNCT
fsr-3892	177	49	*	*	PUNCT
fsr-3892	177	50	significant	significant	ADJ
fsr-3892	177	51	at	at	ADP
fsr-3892	177	52	the	the	DET
fsr-3892	177	53	5	5	NUM
fsr-3892	177	54	%	%	NOUN
fsr-3892	177	55	level	level	NOUN
fsr-3892	177	56	.	.	PUNCT
fsr-3892	178	1	207r.r	207r.r	NUM
fsr-3892	178	2	.	.	PUNCT
fsr-3892	179	1	johnson	johnson	PROPN
fsr-3892	179	2	et	et	PROPN
fsr-3892	179	3	al	al	PROPN
fsr-3892	179	4	.	.	PUNCT
fsr-3892	179	5	/	/	SYM
fsr-3892	179	6	financial	financial	ADJ
fsr-3892	179	7	services	service	NOUN
fsr-3892	179	8	review	review	VERB
fsr-3892	179	9	8	8	NUM
fsr-3892	179	10	(	(	PUNCT
fsr-3892	179	11	1999	1999	NUM
fsr-3892	179	12	)	)	PUNCT
fsr-3892	180	1	199–210	199–210	NUM
fsr-3892	180	2	indexes	index	NOUN
fsr-3892	180	3	have	have	VERB
fsr-3892	180	4	negative	negative	ADJ
fsr-3892	180	5	excess	excess	ADJ
fsr-3892	180	6	returns	return	NOUN
fsr-3892	180	7	during	during	ADP
fsr-3892	180	8	restrictive	restrictive	ADJ
fsr-3892	180	9	monetary	monetary	ADJ
fsr-3892	180	10	policy	policy	NOUN
fsr-3892	180	11	periods	period	NOUN
fsr-3892	180	12	,	,	PUNCT
fsr-3892	180	13	whereas	whereas	SCONJ
fsr-3892	180	14	each	each	PRON
fsr-3892	180	15	of	of	ADP
fsr-3892	180	16	the	the	DET
fsr-3892	180	17	two	two	NUM
fsr-3892	180	18	domestic	domestic	ADJ
fsr-3892	180	19	indexes	index	NOUN
fsr-3892	180	20	have	have	VERB
fsr-3892	180	21	positive	positive	ADJ
fsr-3892	180	22	excess	excess	ADJ
fsr-3892	180	23	returns	return	NOUN
fsr-3892	180	24	during	during	ADP
fsr-3892	180	25	restrictive	restrictive	ADJ
fsr-3892	180	26	periods	period	NOUN
fsr-3892	180	27	.	.	PUNCT
fsr-3892	181	1	this	this	PRON
fsr-3892	181	2	indicates	indicate	VERB
fsr-3892	181	3	that	that	SCONJ
fsr-3892	181	4	investors	investor	NOUN
fsr-3892	181	5	would	would	AUX
fsr-3892	181	6	,	,	PUNCT
fsr-3892	181	7	on	on	ADP
fsr-3892	181	8	average	average	ADJ
fsr-3892	181	9	,	,	PUNCT
fsr-3892	181	10	improve	improve	VERB
fsr-3892	181	11	their	their	PRON
fsr-3892	181	12	absolute	absolute	ADJ
fsr-3892	181	13	performance	performance	NOUN
fsr-3892	181	14	by	by	ADP
fsr-3892	181	15	simply	simply	ADV
fsr-3892	181	16	investing	invest	VERB
fsr-3892	181	17	in	in	ADP
fsr-3892	181	18	t	t	PROPN
fsr-3892	181	19	-	-	PUNCT
fsr-3892	181	20	bills	bill	NOUN
fsr-3892	181	21	instead	instead	ADV
fsr-3892	181	22	of	of	ADP
fsr-3892	181	23	diversified	diversified	ADJ
fsr-3892	181	24	emerging	emerge	VERB
fsr-3892	181	25	market	market	NOUN
fsr-3892	181	26	,	,	PUNCT
fsr-3892	181	27	foreign	foreign	ADJ
fsr-3892	181	28	stock	stock	NOUN
fsr-3892	181	29	,	,	PUNCT
fsr-3892	181	30	multi	multi	ADJ
fsr-3892	181	31	-	-	ADJ
fsr-3892	181	32	asset	asset	ADJ
fsr-3892	181	33	global	global	NOUN
fsr-3892	181	34	,	,	PUNCT
fsr-3892	181	35	and	and	CCONJ
fsr-3892	181	36	diversified	diversify	VERB
fsr-3892	181	37	asia	asia	PROPN
fsr-3892	181	38	/	/	SYM
fsr-3892	181	39	pacific	pacific	PROPN
fsr-3892	181	40	stock	stock	NOUN
fsr-3892	181	41	funds	fund	NOUN
fsr-3892	181	42	during	during	ADP
fsr-3892	181	43	restrictive	restrictive	ADJ
fsr-3892	181	44	monetary	monetary	ADJ
fsr-3892	181	45	policy	policy	NOUN
fsr-3892	181	46	periods	period	NOUN
fsr-3892	181	47	.	.	PUNCT
fsr-3892	182	1	patterns	pattern	NOUN
fsr-3892	182	2	in	in	ADP
fsr-3892	182	3	the	the	DET
fsr-3892	182	4	variability	variability	NOUN
fsr-3892	182	5	of	of	ADP
fsr-3892	182	6	excess	excess	ADJ
fsr-3892	182	7	returns	return	NOUN
fsr-3892	182	8	are	be	AUX
fsr-3892	182	9	also	also	ADV
fsr-3892	182	10	apparent	apparent	ADJ
fsr-3892	182	11	.	.	PUNCT
fsr-3892	183	1	for	for	ADP
fsr-3892	183	2	each	each	PRON
fsr-3892	183	3	of	of	ADP
fsr-3892	183	4	the	the	DET
fsr-3892	183	5	seven	seven	NUM
fsr-3892	183	6	indexes	index	NOUN
fsr-3892	183	7	examined	examine	VERB
fsr-3892	183	8	,	,	PUNCT
fsr-3892	183	9	the	the	DET
fsr-3892	183	10	excess	excess	ADJ
fsr-3892	183	11	returns	return	NOUN
fsr-3892	183	12	during	during	ADP
fsr-3892	183	13	restrictive	restrictive	ADJ
fsr-3892	183	14	periods	period	NOUN
fsr-3892	183	15	are	be	AUX
fsr-3892	183	16	more	more	ADV
fsr-3892	183	17	variable	variable	ADJ
fsr-3892	183	18	than	than	ADP
fsr-3892	183	19	excess	excess	ADJ
fsr-3892	183	20	returns	return	NOUN
fsr-3892	183	21	in	in	ADP
fsr-3892	183	22	expansive	expansive	ADJ
fsr-3892	183	23	periods	period	NOUN
fsr-3892	183	24	.	.	PUNCT
fsr-3892	184	1	as	as	SCONJ
fsr-3892	184	2	indicated	indicate	VERB
fsr-3892	184	3	in	in	ADP
fsr-3892	184	4	table	table	NOUN
fsr-3892	184	5	4	4	NUM
fsr-3892	184	6	,	,	PUNCT
fsr-3892	184	7	the	the	DET
fsr-3892	184	8	results	result	NOUN
fsr-3892	184	9	of	of	ADP
fsr-3892	184	10	thef	thef	NOUN
fsr-3892	184	11	-	-	PUNCT
fsr-3892	184	12	tests	test	NOUN
fsr-3892	184	13	indicate	indicate	VERB
fsr-3892	184	14	that	that	SCONJ
fsr-3892	184	15	the	the	DET
fsr-3892	184	16	risk	risk	NOUN
fsr-3892	184	17	differences	difference	NOUN
fsr-3892	184	18	are	be	AUX
fsr-3892	184	19	statistically	statistically	ADV
fsr-3892	184	20	significant	significant	ADJ
fsr-3892	184	21	for	for	ADP
fsr-3892	184	22	all	all	DET
fsr-3892	184	23	indexes	index	NOUN
fsr-3892	184	24	except	except	SCONJ
fsr-3892	184	25	the	the	DET
fsr-3892	184	26	diversified	diversified	ADJ
fsr-3892	184	27	emerging	emerge	VERB
fsr-3892	184	28	markets	market	NOUN
fsr-3892	184	29	and	and	CCONJ
fsr-3892	184	30	diversified	diversify	VERB
fsr-3892	184	31	asia	asia	PROPN
fsr-3892	184	32	/	/	SYM
fsr-3892	184	33	pacific	pacific	ADJ
fsr-3892	184	34	stock	stock	NOUN
fsr-3892	184	35	indexes	index	NOUN
fsr-3892	184	36	.	.	PUNCT
fsr-3892	185	1	one	one	PRON
fsr-3892	185	2	can	can	AUX
fsr-3892	185	3	not	not	PART
fsr-3892	185	4	conclude	conclude	VERB
fsr-3892	185	5	that	that	SCONJ
fsr-3892	185	6	the	the	DET
fsr-3892	185	7	extra	extra	ADJ
fsr-3892	185	8	returns	return	NOUN
fsr-3892	185	9	realized	realize	VERB
fsr-3892	185	10	during	during	ADP
fsr-3892	185	11	expansive	expansive	ADJ
fsr-3892	185	12	periods	period	NOUN
fsr-3892	185	13	are	be	AUX
fsr-3892	185	14	the	the	DET
fsr-3892	185	15	result	result	NOUN
fsr-3892	185	16	of	of	ADP
fsr-3892	185	17	compensation	compensation	NOUN
fsr-3892	185	18	for	for	ADP
fsr-3892	185	19	bearing	bear	VERB
fsr-3892	185	20	extra	extra	ADJ
fsr-3892	185	21	risk	risk	NOUN
fsr-3892	185	22	.	.	PUNCT
fsr-3892	186	1	as	as	SCONJ
fsr-3892	186	2	one	one	PRON
fsr-3892	186	3	might	might	AUX
fsr-3892	186	4	anticipate	anticipate	VERB
fsr-3892	186	5	,	,	PUNCT
fsr-3892	186	6	the	the	DET
fsr-3892	186	7	standard	standard	ADJ
fsr-3892	186	8	deviation	deviation	NOUN
fsr-3892	186	9	of	of	ADP
fsr-3892	186	10	excess	excess	ADJ
fsr-3892	186	11	returns	return	NOUN
fsr-3892	186	12	for	for	ADP
fsr-3892	186	13	the	the	DET
fsr-3892	186	14	diversified	diversified	ADJ
fsr-3892	186	15	emerging	emerge	VERB
fsr-3892	186	16	market	market	NOUN
fsr-3892	186	17	index	index	NOUN
fsr-3892	186	18	is	be	AUX
fsr-3892	186	19	the	the	DET
fsr-3892	186	20	highest	high	ADJ
fsr-3892	186	21	,	,	PUNCT
fsr-3892	186	22	while	while	SCONJ
fsr-3892	186	23	the	the	DET
fsr-3892	186	24	standard	standard	ADJ
fsr-3892	186	25	deviation	deviation	NOUN
fsr-3892	186	26	of	of	ADP
fsr-3892	186	27	excess	excess	ADJ
fsr-3892	186	28	returns	return	NOUN
fsr-3892	186	29	for	for	ADP
fsr-3892	186	30	the	the	DET
fsr-3892	186	31	us	us	PROPN
fsr-3892	186	32	balanced	balanced	ADJ
fsr-3892	186	33	index	index	NOUN
fsr-3892	186	34	is	be	AUX
fsr-3892	186	35	lowest	low	ADJ
fsr-3892	186	36	of	of	ADP
fsr-3892	186	37	the	the	DET
fsr-3892	186	38	indexes	index	NOUN
fsr-3892	186	39	examined	examine	VERB
fsr-3892	186	40	.	.	PUNCT
fsr-3892	187	1	thus	thus	ADV
fsr-3892	187	2	,	,	PUNCT
fsr-3892	187	3	periods	period	NOUN
fsr-3892	187	4	of	of	ADP
fsr-3892	187	5	decreasing	decrease	VERB
fsr-3892	187	6	discount	discount	NOUN
fsr-3892	187	7	rates	rate	NOUN
fsr-3892	187	8	are	be	AUX
fsr-3892	187	9	associated	associate	VERB
fsr-3892	187	10	with	with	ADP
fsr-3892	187	11	both	both	CCONJ
fsr-3892	187	12	higher	high	ADJ
fsr-3892	187	13	returns	return	NOUN
fsr-3892	187	14	and	and	CCONJ
fsr-3892	187	15	lower	low	ADJ
fsr-3892	187	16	variability	variability	NOUN
fsr-3892	187	17	of	of	ADP
fsr-3892	187	18	returns	return	NOUN
fsr-3892	187	19	for	for	ADP
fsr-3892	187	20	each	each	PRON
fsr-3892	187	21	of	of	ADP
fsr-3892	187	22	the	the	DET
fsr-3892	187	23	seven	seven	NUM
fsr-3892	187	24	classes	class	NOUN
fsr-3892	187	25	of	of	ADP
fsr-3892	187	26	mutual	mutual	ADJ
fsr-3892	187	27	funds	fund	NOUN
fsr-3892	187	28	examined	examine	VERB
fsr-3892	187	29	.	.	PUNCT
fsr-3892	188	1	4.2	4.2	NUM
fsr-3892	188	2	.	.	PUNCT
fsr-3892	189	1	the	the	DET
fsr-3892	189	2	correlation	correlation	NOUN
fsr-3892	189	3	structure	structure	NOUN
fsr-3892	189	4	of	of	ADP
fsr-3892	189	5	returns	return	NOUN
fsr-3892	189	6	table	table	VERB
fsr-3892	189	7	5	5	NUM
fsr-3892	189	8	presents	present	VERB
fsr-3892	189	9	the	the	DET
fsr-3892	189	10	correlations	correlation	NOUN
fsr-3892	189	11	between	between	ADP
fsr-3892	189	12	us	we	PRON
fsr-3892	189	13	balanced	balanced	ADJ
fsr-3892	189	14	funds	fund	NOUN
fsr-3892	189	15	and	and	CCONJ
fsr-3892	189	16	the	the	DET
fsr-3892	189	17	other	other	ADJ
fsr-3892	189	18	indexes	index	NOUN
fsr-3892	189	19	of	of	ADP
fsr-3892	189	20	mutual	mutual	ADJ
fsr-3892	189	21	funds	fund	NOUN
fsr-3892	189	22	examined	examine	VERB
fsr-3892	189	23	in	in	ADP
fsr-3892	189	24	this	this	DET
fsr-3892	189	25	study	study	NOUN
fsr-3892	189	26	.	.	PUNCT
fsr-3892	190	1	balanced	balanced	ADJ
fsr-3892	190	2	funds	fund	NOUN
fsr-3892	190	3	are	be	AUX
fsr-3892	190	4	chosen	choose	VERB
fsr-3892	190	5	to	to	PART
fsr-3892	190	6	serve	serve	VERB
fsr-3892	190	7	as	as	ADP
fsr-3892	190	8	representative	representative	NOUN
fsr-3892	190	9	of	of	ADP
fsr-3892	190	10	the	the	DET
fsr-3892	190	11	average	average	ADJ
fsr-3892	190	12	us	us	PROPN
fsr-3892	190	13	individual	individual	PROPN
fsr-3892	190	14	investor	investor	NOUN
fsr-3892	190	15	’s	’s	PART
fsr-3892	190	16	holdings	holding	NOUN
fsr-3892	190	17	.	.	PUNCT
fsr-3892	191	1	these	these	DET
fsr-3892	191	2	funds	fund	NOUN
fsr-3892	191	3	contain	contain	VERB
fsr-3892	191	4	both	both	DET
fsr-3892	191	5	stocks	stock	NOUN
fsr-3892	191	6	and	and	CCONJ
fsr-3892	191	7	bonds	bond	NOUN
fsr-3892	191	8	and	and	CCONJ
fsr-3892	191	9	are	be	AUX
fsr-3892	191	10	often	often	ADV
fsr-3892	191	11	utilized	utilize	VERB
fsr-3892	191	12	by	by	ADP
fsr-3892	191	13	individuals	individual	NOUN
fsr-3892	191	14	in	in	ADP
fsr-3892	191	15	retirement	retirement	NOUN
fsr-3892	191	16	plans	plan	NOUN
fsr-3892	191	17	.	.	PUNCT
fsr-3892	192	1	the	the	DET
fsr-3892	192	2	extremely	extremely	ADV
fsr-3892	192	3	high	high	ADJ
fsr-3892	192	4	correlation	correlation	NOUN
fsr-3892	192	5	(	(	PUNCT
fsr-3892	192	6	0.972	0.972	NUM
fsr-3892	192	7	overall	overall	NOUN
fsr-3892	192	8	)	)	PUNCT
fsr-3892	192	9	between	between	ADP
fsr-3892	192	10	the	the	DET
fsr-3892	192	11	indexes	index	NOUN
fsr-3892	192	12	for	for	ADP
fsr-3892	192	13	us	we	PRON
fsr-3892	192	14	balanced	balanced	ADJ
fsr-3892	192	15	funds	fund	NOUN
fsr-3892	192	16	and	and	CCONJ
fsr-3892	192	17	us	us	PROPN
fsr-3892	192	18	growth	growth	NOUN
fsr-3892	192	19	&	&	CCONJ
fsr-3892	192	20	index	index	NOUN
fsr-3892	192	21	funds	fund	NOUN
fsr-3892	192	22	indicates	indicate	VERB
fsr-3892	192	23	that	that	SCONJ
fsr-3892	192	24	the	the	DET
fsr-3892	192	25	correlation	correlation	NOUN
fsr-3892	192	26	results	result	NOUN
fsr-3892	192	27	would	would	AUX
fsr-3892	192	28	be	be	AUX
fsr-3892	192	29	very	very	ADV
fsr-3892	192	30	similar	similar	ADJ
fsr-3892	192	31	if	if	SCONJ
fsr-3892	192	32	us	us	PROPN
fsr-3892	192	33	growth	growth	NOUN
fsr-3892	192	34	&	&	CCONJ
fsr-3892	192	35	index	index	NOUN
fsr-3892	192	36	funds	fund	NOUN
fsr-3892	192	37	were	be	AUX
fsr-3892	192	38	used	use	VERB
fsr-3892	192	39	as	as	ADP
fsr-3892	192	40	the	the	DET
fsr-3892	192	41	representative	representative	ADJ
fsr-3892	192	42	class	class	NOUN
fsr-3892	192	43	of	of	ADP
fsr-3892	192	44	funds	fund	NOUN
fsr-3892	192	45	.	.	PUNCT
fsr-3892	193	1	the	the	DET
fsr-3892	193	2	correlations	correlation	NOUN
fsr-3892	193	3	between	between	ADP
fsr-3892	193	4	us	we	PRON
fsr-3892	193	5	balanced	balanced	ADJ
fsr-3892	193	6	funds	fund	NOUN
fsr-3892	193	7	and	and	CCONJ
fsr-3892	193	8	the	the	DET
fsr-3892	193	9	five	five	NUM
fsr-3892	193	10	international	international	ADJ
fsr-3892	193	11	funds	fund	NOUN
fsr-3892	193	12	range	range	VERB
fsr-3892	193	13	from	from	ADP
fsr-3892	193	14	a	a	DET
fsr-3892	193	15	low	low	NOUN
fsr-3892	193	16	of	of	ADP
fsr-3892	193	17	0.415	0.415	NUM
fsr-3892	193	18	(	(	PUNCT
fsr-3892	193	19	with	with	ADP
fsr-3892	193	20	diversified	diversified	ADJ
fsr-3892	193	21	asia	asia	PROPN
fsr-3892	193	22	/	/	SYM
fsr-3892	193	23	pacific	pacific	ADJ
fsr-3892	193	24	funds	fund	NOUN
fsr-3892	193	25	)	)	PUNCT
fsr-3892	193	26	to	to	ADP
fsr-3892	193	27	a	a	DET
fsr-3892	193	28	high	high	NOUN
fsr-3892	193	29	of	of	ADP
fsr-3892	193	30	0.883	0.883	NUM
fsr-3892	193	31	(	(	PUNCT
fsr-3892	193	32	with	with	ADP
fsr-3892	193	33	world	world	NOUN
fsr-3892	193	34	stock	stock	NOUN
fsr-3892	193	35	funds	fund	NOUN
fsr-3892	193	36	)	)	PUNCT
fsr-3892	193	37	.	.	PUNCT
fsr-3892	194	1	it	it	PRON
fsr-3892	194	2	is	be	AUX
fsr-3892	194	3	not	not	PART
fsr-3892	194	4	surprising	surprising	ADJ
fsr-3892	194	5	that	that	SCONJ
fsr-3892	194	6	the	the	DET
fsr-3892	194	7	correlation	correlation	NOUN
fsr-3892	194	8	between	between	ADP
fsr-3892	194	9	us	we	PRON
fsr-3892	194	10	balanced	balanced	ADJ
fsr-3892	194	11	funds	fund	NOUN
fsr-3892	194	12	and	and	CCONJ
fsr-3892	194	13	world	world	NOUN
fsr-3892	194	14	stock	stock	NOUN
fsr-3892	194	15	funds	fund	NOUN
fsr-3892	194	16	is	be	AUX
fsr-3892	194	17	the	the	DET
fsr-3892	194	18	highest	high	ADJ
fsr-3892	194	19	,	,	PUNCT
fsr-3892	194	20	as	as	SCONJ
fsr-3892	194	21	world	world	NOUN
fsr-3892	194	22	stock	stock	NOUN
fsr-3892	194	23	funds	fund	NOUN
fsr-3892	194	24	are	be	AUX
fsr-3892	194	25	defined	define	VERB
fsr-3892	194	26	as	as	ADP
fsr-3892	194	27	international	international	ADJ
fsr-3892	194	28	funds	fund	NOUN
fsr-3892	194	29	having	have	VERB
fsr-3892	194	30	more	more	ADJ
fsr-3892	194	31	than	than	ADP
fsr-3892	194	32	10	10	NUM
fsr-3892	194	33	%	%	NOUN
fsr-3892	194	34	of	of	ADP
fsr-3892	194	35	stocks	stock	NOUN
fsr-3892	194	36	invested	invest	VERB
fsr-3892	194	37	in	in	ADP
fsr-3892	194	38	the	the	DET
fsr-3892	194	39	united	united	PROPN
fsr-3892	194	40	states	states	PROPN
fsr-3892	194	41	.	.	PUNCT
fsr-3892	195	1	overall	overall	ADV
fsr-3892	195	2	,	,	PUNCT
fsr-3892	195	3	the	the	DET
fsr-3892	195	4	correlations	correlation	NOUN
fsr-3892	195	5	are	be	AUX
fsr-3892	195	6	higher	high	ADJ
fsr-3892	195	7	than	than	ADP
fsr-3892	195	8	the	the	DET
fsr-3892	195	9	typical	typical	ADJ
fsr-3892	195	10	correlations	correlation	NOUN
fsr-3892	195	11	reported	report	VERB
fsr-3892	195	12	in	in	ADP
fsr-3892	195	13	studies	study	NOUN
fsr-3892	195	14	between	between	ADP
fsr-3892	195	15	country	country	NOUN
fsr-3892	195	16	indices	index	NOUN
fsr-3892	195	17	.	.	PUNCT
fsr-3892	196	1	this	this	PRON
fsr-3892	196	2	implies	imply	VERB
fsr-3892	196	3	that	that	SCONJ
fsr-3892	196	4	investors	investor	NOUN
fsr-3892	196	5	table	table	VERB
fsr-3892	196	6	5	5	NUM
fsr-3892	196	7	us	us	PROPN
fsr-3892	196	8	balanced	balanced	ADJ
fsr-3892	196	9	fund	fund	NOUN
fsr-3892	196	10	and	and	CCONJ
fsr-3892	196	11	international	international	ADJ
fsr-3892	196	12	mutual	mutual	ADJ
fsr-3892	196	13	fund	fund	NOUN
fsr-3892	196	14	correlations	correlation	NOUN
fsr-3892	196	15	correlation	correlation	NOUN
fsr-3892	196	16	of	of	ADP
fsr-3892	196	17	us	we	PRON
fsr-3892	196	18	balanced	balanced	ADJ
fsr-3892	196	19	fund	fund	NOUN
fsr-3892	196	20	with	with	ADP
fsr-3892	196	21	:	:	PUNCT
fsr-3892	196	22	expansive	expansive	ADJ
fsr-3892	196	23	returns	return	NOUN
fsr-3892	196	24	correlation	correlation	NOUN
fsr-3892	196	25	restrictive	restrictive	ADJ
fsr-3892	196	26	returns	return	NOUN
fsr-3892	196	27	correlation	correlation	NOUN
fsr-3892	196	28	total	total	ADJ
fsr-3892	196	29	correlation	correlation	NOUN
fsr-3892	196	30	us	we	PRON
fsr-3892	196	31	growth	growth	NOUN
fsr-3892	196	32	&	&	CCONJ
fsr-3892	196	33	income	income	NOUN
fsr-3892	196	34	0.967	0.967	NUM
fsr-3892	196	35	0.974	0.974	NUM
fsr-3892	196	36	0.972	0.972	NUM
fsr-3892	196	37	international	international	ADJ
fsr-3892	196	38	indexes	index	NOUN
fsr-3892	196	39	world	world	NOUN
fsr-3892	196	40	0.863	0.863	NUM
fsr-3892	196	41	0.903	0.903	NUM
fsr-3892	196	42	0.883	0.883	NUM
fsr-3892	196	43	diversified	diversified	ADJ
fsr-3892	196	44	emerging	emerge	VERB
fsr-3892	196	45	markets	market	NOUN
fsr-3892	196	46	0.746	0.746	NUM
fsr-3892	196	47	0.859	0.859	NUM
fsr-3892	196	48	0.796	0.796	NUM
fsr-3892	196	49	foreign	foreign	ADJ
fsr-3892	196	50	0.593	0.593	NUM
fsr-3892	196	51	0.745	0.745	NUM
fsr-3892	196	52	0.678	0.678	NUM
fsr-3892	196	53	multi	multi	ADJ
fsr-3892	196	54	-	-	ADJ
fsr-3892	196	55	asset	asset	ADJ
fsr-3892	196	56	global	global	NOUN
fsr-3892	196	57	0.797	0.797	NUM
fsr-3892	196	58	0.885	0.885	NUM
fsr-3892	196	59	0.844	0.844	NUM
fsr-3892	196	60	diversified	diversify	VERB
fsr-3892	196	61	asia	asia	PROPN
fsr-3892	196	62	/	/	SYM
fsr-3892	196	63	pacific	pacific	PROPN
fsr-3892	196	64	0.369	0.369	NUM
fsr-3892	196	65	0.440	0.440	NUM
fsr-3892	196	66	0.415	0.415	NUM
fsr-3892	196	67	208	208	NUM
fsr-3892	196	68	r.r	r.r	PROPN
fsr-3892	196	69	.	.	PROPN
fsr-3892	196	70	johnson	johnson	PROPN
fsr-3892	196	71	et	et	PROPN
fsr-3892	196	72	al	al	PROPN
fsr-3892	196	73	.	.	PUNCT
fsr-3892	196	74	/	/	SYM
fsr-3892	196	75	financial	financial	ADJ
fsr-3892	196	76	services	service	NOUN
fsr-3892	196	77	review	review	VERB
fsr-3892	196	78	8	8	NUM
fsr-3892	196	79	(	(	PUNCT
fsr-3892	196	80	1999	1999	NUM
fsr-3892	196	81	)	)	PUNCT
fsr-3892	197	1	199–210	199–210	NUM
fsr-3892	197	2	who	who	PRON
fsr-3892	197	3	target	target	VERB
fsr-3892	197	4	international	international	ADJ
fsr-3892	197	5	mutual	mutual	ADJ
fsr-3892	197	6	funds	fund	NOUN
fsr-3892	197	7	may	may	AUX
fsr-3892	197	8	not	not	PART
fsr-3892	197	9	be	be	AUX
fsr-3892	197	10	realizing	realize	VERB
fsr-3892	197	11	the	the	DET
fsr-3892	197	12	diversification	diversification	NOUN
fsr-3892	197	13	benefits	benefit	NOUN
fsr-3892	197	14	assumed	assume	VERB
fsr-3892	197	15	by	by	ADP
fsr-3892	197	16	examining	examine	VERB
fsr-3892	197	17	the	the	DET
fsr-3892	197	18	results	result	NOUN
fsr-3892	197	19	of	of	ADP
fsr-3892	197	20	previous	previous	ADJ
fsr-3892	197	21	academic	academic	ADJ
fsr-3892	197	22	studies	study	NOUN
fsr-3892	197	23	.	.	PUNCT
fsr-3892	198	1	furthermore	furthermore	ADV
fsr-3892	198	2	,	,	PUNCT
fsr-3892	198	3	as	as	SCONJ
fsr-3892	198	4	shown	show	VERB
fsr-3892	198	5	in	in	ADP
fsr-3892	198	6	table	table	NOUN
fsr-3892	198	7	5	5	NUM
fsr-3892	198	8	,	,	PUNCT
fsr-3892	198	9	the	the	DET
fsr-3892	198	10	correlations	correlation	NOUN
fsr-3892	198	11	during	during	ADP
fsr-3892	198	12	restrictive	restrictive	ADJ
fsr-3892	198	13	monetary	monetary	ADJ
fsr-3892	198	14	policy	policy	NOUN
fsr-3892	198	15	periods	period	NOUN
fsr-3892	198	16	are	be	AUX
fsr-3892	198	17	higher	high	ADJ
fsr-3892	198	18	than	than	ADP
fsr-3892	198	19	the	the	DET
fsr-3892	198	20	correlations	correlation	NOUN
fsr-3892	198	21	during	during	ADP
fsr-3892	198	22	expansive	expansive	ADJ
fsr-3892	198	23	monetary	monetary	ADJ
fsr-3892	198	24	policy	policy	NOUN
fsr-3892	198	25	periods	period	NOUN
fsr-3892	198	26	for	for	ADP
fsr-3892	198	27	each	each	PRON
fsr-3892	198	28	of	of	ADP
fsr-3892	198	29	the	the	DET
fsr-3892	198	30	indexes	index	NOUN
fsr-3892	198	31	examined	examine	VERB
fsr-3892	198	32	.	.	PUNCT
fsr-3892	199	1	if	if	SCONJ
fsr-3892	199	2	a	a	DET
fsr-3892	199	3	portfolio	portfolio	NOUN
fsr-3892	199	4	is	be	AUX
fsr-3892	199	5	formed	form	VERB
fsr-3892	199	6	based	base	VERB
fsr-3892	199	7	on	on	ADP
fsr-3892	199	8	average	average	ADJ
fsr-3892	199	9	correlations	correlation	NOUN
fsr-3892	199	10	,	,	PUNCT
fsr-3892	199	11	which	which	PRON
fsr-3892	199	12	implicitly	implicitly	ADV
fsr-3892	199	13	assumes	assume	VERB
fsr-3892	199	14	symmetry	symmetry	NOUN
fsr-3892	199	15	,	,	PUNCT
fsr-3892	199	16	the	the	DET
fsr-3892	199	17	performance	performance	NOUN
fsr-3892	199	18	of	of	ADP
fsr-3892	199	19	the	the	DET
fsr-3892	199	20	investment	investment	NOUN
fsr-3892	199	21	could	could	AUX
fsr-3892	199	22	be	be	AUX
fsr-3892	199	23	worse	bad	ADJ
fsr-3892	199	24	than	than	SCONJ
fsr-3892	199	25	expected	expect	VERB
fsr-3892	199	26	in	in	ADP
fsr-3892	199	27	restrictive	restrictive	ADJ
fsr-3892	199	28	monetary	monetary	ADJ
fsr-3892	199	29	policy	policy	NOUN
fsr-3892	199	30	environments	environment	NOUN
fsr-3892	199	31	because	because	SCONJ
fsr-3892	199	32	the	the	DET
fsr-3892	199	33	correlations	correlation	NOUN
fsr-3892	199	34	increase	increase	VERB
fsr-3892	199	35	.	.	PUNCT
fsr-3892	200	1	similar	similar	ADJ
fsr-3892	200	2	to	to	ADP
fsr-3892	200	3	the	the	DET
fsr-3892	200	4	conclusions	conclusion	NOUN
fsr-3892	200	5	of	of	ADP
fsr-3892	200	6	previous	previous	ADJ
fsr-3892	200	7	researchers	researcher	NOUN
fsr-3892	200	8	,	,	PUNCT
fsr-3892	200	9	portfolios	portfolio	NOUN
fsr-3892	200	10	need	need	VERB
fsr-3892	200	11	to	to	PART
fsr-3892	200	12	be	be	AUX
fsr-3892	200	13	constructed	construct	VERB
fsr-3892	200	14	on	on	ADP
fsr-3892	200	15	the	the	DET
fsr-3892	200	16	basis	basis	NOUN
fsr-3892	200	17	of	of	ADP
fsr-3892	200	18	expected	expect	VERB
fsr-3892	200	19	correlation	correlation	NOUN
fsr-3892	200	20	rather	rather	ADV
fsr-3892	200	21	than	than	ADP
fsr-3892	200	22	past	past	ADJ
fsr-3892	200	23	averages	average	NOUN
fsr-3892	200	24	.	.	PUNCT
fsr-3892	201	1	our	our	PRON
fsr-3892	201	2	results	result	NOUN
fsr-3892	201	3	suggest	suggest	VERB
fsr-3892	201	4	that	that	SCONJ
fsr-3892	201	5	one	one	NUM
fsr-3892	201	6	of	of	ADP
fsr-3892	201	7	the	the	DET
fsr-3892	201	8	factors	factor	NOUN
fsr-3892	201	9	investors	investor	NOUN
fsr-3892	201	10	should	should	AUX
fsr-3892	201	11	use	use	VERB
fsr-3892	201	12	in	in	ADP
fsr-3892	201	13	forecasting	forecast	VERB
fsr-3892	201	14	the	the	DET
fsr-3892	201	15	expected	expect	VERB
fsr-3892	201	16	correlation	correlation	NOUN
fsr-3892	201	17	structure	structure	NOUN
fsr-3892	201	18	of	of	ADP
fsr-3892	201	19	security	security	NOUN
fsr-3892	201	20	returns	return	NOUN
fsr-3892	201	21	is	be	AUX
fsr-3892	201	22	the	the	DET
fsr-3892	201	23	monetary	monetary	ADJ
fsr-3892	201	24	environment	environment	NOUN
fsr-3892	201	25	.	.	PUNCT
fsr-3892	202	1	the	the	DET
fsr-3892	202	2	results	result	NOUN
fsr-3892	202	3	show	show	VERB
fsr-3892	202	4	that	that	SCONJ
fsr-3892	202	5	the	the	DET
fsr-3892	202	6	diversification	diversification	NOUN
fsr-3892	202	7	benefits	benefit	NOUN
fsr-3892	202	8	are	be	AUX
fsr-3892	202	9	reduced	reduce	VERB
fsr-3892	202	10	(	(	PUNCT
fsr-3892	202	11	higher	high	ADJ
fsr-3892	202	12	correlations	correlation	NOUN
fsr-3892	202	13	)	)	PUNCT
fsr-3892	202	14	when	when	SCONJ
fsr-3892	202	15	we	we	PRON
fsr-3892	202	16	need	need	VERB
fsr-3892	202	17	them	they	PRON
fsr-3892	202	18	most	most	ADV
fsr-3892	202	19	(	(	PUNCT
fsr-3892	202	20	during	during	ADP
fsr-3892	202	21	a	a	DET
fsr-3892	202	22	restrictive	restrictive	ADJ
fsr-3892	202	23	environment	environment	NOUN
fsr-3892	202	24	)	)	PUNCT
fsr-3892	202	25	.	.	PUNCT
fsr-3892	203	1	these	these	DET
fsr-3892	203	2	findings	finding	NOUN
fsr-3892	203	3	further	far	ADV
fsr-3892	203	4	suggest	suggest	VERB
fsr-3892	203	5	that	that	SCONJ
fsr-3892	203	6	the	the	DET
fsr-3892	203	7	investor	investor	NOUN
fsr-3892	203	8	adopt	adopt	VERB
fsr-3892	203	9	a	a	DET
fsr-3892	203	10	tactical	tactical	ADJ
fsr-3892	203	11	asset	asset	NOUN
fsr-3892	203	12	allocation	allocation	NOUN
fsr-3892	203	13	strategy	strategy	NOUN
fsr-3892	203	14	that	that	PRON
fsr-3892	203	15	reduces	reduce	VERB
fsr-3892	203	16	these	these	DET
fsr-3892	203	17	effects	effect	NOUN
fsr-3892	203	18	during	during	ADP
fsr-3892	203	19	restrictive	restrictive	ADJ
fsr-3892	203	20	environments	environment	NOUN
fsr-3892	203	21	.	.	PUNCT
fsr-3892	204	1	5	5	X
fsr-3892	204	2	.	.	X
fsr-3892	204	3	conclusions	conclusion	NOUN
fsr-3892	204	4	the	the	DET
fsr-3892	204	5	results	result	NOUN
fsr-3892	204	6	of	of	ADP
fsr-3892	204	7	this	this	DET
fsr-3892	204	8	study	study	NOUN
fsr-3892	204	9	provide	provide	VERB
fsr-3892	204	10	evidence	evidence	NOUN
fsr-3892	204	11	of	of	ADP
fsr-3892	204	12	the	the	DET
fsr-3892	204	13	relative	relative	ADJ
fsr-3892	204	14	inability	inability	NOUN
fsr-3892	204	15	of	of	ADP
fsr-3892	204	16	international	international	ADJ
fsr-3892	204	17	mutual	mutual	ADJ
fsr-3892	204	18	funds	fund	NOUN
fsr-3892	204	19	to	to	PART
fsr-3892	204	20	allow	allow	VERB
fsr-3892	204	21	investors	investor	NOUN
fsr-3892	204	22	to	to	PART
fsr-3892	204	23	realize	realize	VERB
fsr-3892	204	24	the	the	DET
fsr-3892	204	25	anticipated	anticipated	ADJ
fsr-3892	204	26	level	level	NOUN
fsr-3892	204	27	of	of	ADP
fsr-3892	204	28	diversification	diversification	NOUN
fsr-3892	204	29	benefits	benefit	NOUN
fsr-3892	204	30	across	across	ADP
fsr-3892	204	31	federal	federal	PROPN
fsr-3892	204	32	reserve	reserve	PROPN
fsr-3892	204	33	monetary	monetary	ADJ
fsr-3892	204	34	policy	policy	NOUN
fsr-3892	204	35	environments	environment	NOUN
fsr-3892	204	36	.	.	PUNCT
fsr-3892	205	1	specifically	specifically	ADV
fsr-3892	205	2	,	,	PUNCT
fsr-3892	205	3	during	during	ADP
fsr-3892	205	4	restrictive	restrictive	ADJ
fsr-3892	205	5	monetary	monetary	ADJ
fsr-3892	205	6	periods	period	NOUN
fsr-3892	205	7	,	,	PUNCT
fsr-3892	205	8	international	international	ADJ
fsr-3892	205	9	mutual	mutual	ADJ
fsr-3892	205	10	funds	fund	NOUN
fsr-3892	205	11	indexes	index	NOUN
fsr-3892	205	12	provide	provide	VERB
fsr-3892	205	13	lower	low	ADJ
fsr-3892	205	14	excess	excess	ADJ
fsr-3892	205	15	returns	return	NOUN
fsr-3892	205	16	than	than	ADP
fsr-3892	205	17	domestic	domestic	ADJ
fsr-3892	205	18	counterparts	counterpart	NOUN
fsr-3892	205	19	.	.	PUNCT
fsr-3892	206	1	additionally	additionally	ADV
fsr-3892	206	2	,	,	PUNCT
fsr-3892	206	3	the	the	DET
fsr-3892	206	4	correlations	correlation	NOUN
fsr-3892	206	5	between	between	ADP
fsr-3892	206	6	international	international	ADJ
fsr-3892	206	7	mutual	mutual	ADJ
fsr-3892	206	8	funds	fund	NOUN
fsr-3892	206	9	and	and	CCONJ
fsr-3892	206	10	domestic	domestic	ADJ
fsr-3892	206	11	mutual	mutual	ADJ
fsr-3892	206	12	funds	fund	NOUN
fsr-3892	206	13	are	be	AUX
fsr-3892	206	14	higher	high	ADJ
fsr-3892	206	15	during	during	ADP
fsr-3892	206	16	restrictive	restrictive	ADJ
fsr-3892	206	17	monetary	monetary	ADJ
fsr-3892	206	18	policy	policy	NOUN
fsr-3892	206	19	periods	period	NOUN
fsr-3892	206	20	.	.	PUNCT
fsr-3892	207	1	the	the	DET
fsr-3892	207	2	ineffective	ineffective	ADJ
fsr-3892	207	3	diversification	diversification	NOUN
fsr-3892	207	4	provided	provide	VERB
fsr-3892	207	5	by	by	ADP
fsr-3892	207	6	international	international	ADJ
fsr-3892	207	7	mutual	mutual	ADJ
fsr-3892	207	8	funds	fund	NOUN
fsr-3892	207	9	is	be	AUX
fsr-3892	207	10	consistent	consistent	ADJ
fsr-3892	207	11	with	with	ADP
fsr-3892	207	12	other	other	ADJ
fsr-3892	207	13	forms	form	NOUN
fsr-3892	207	14	of	of	ADP
fsr-3892	207	15	international	international	ADJ
fsr-3892	207	16	investment	investment	NOUN
fsr-3892	207	17	(	(	PUNCT
fsr-3892	207	18	i.e.	i.e.	X
fsr-3892	207	19	,	,	PUNCT
fsr-3892	207	20	country	country	NOUN
fsr-3892	207	21	funds	fund	NOUN
fsr-3892	207	22	,	,	PUNCT
fsr-3892	207	23	and	and	CCONJ
fsr-3892	207	24	american	american	ADJ
fsr-3892	207	25	depository	depository	NOUN
fsr-3892	207	26	receipts	receipt	NOUN
fsr-3892	207	27	)	)	PUNCT
fsr-3892	207	28	,	,	PUNCT
fsr-3892	207	29	which	which	PRON
fsr-3892	207	30	have	have	AUX
fsr-3892	207	31	been	be	AUX
fsr-3892	207	32	shown	show	VERB
fsr-3892	207	33	previously	previously	ADV
fsr-3892	207	34	to	to	PART
fsr-3892	207	35	offer	offer	VERB
fsr-3892	207	36	limited	limited	ADJ
fsr-3892	207	37	diversification	diversification	NOUN
fsr-3892	207	38	benefits	benefit	NOUN
fsr-3892	207	39	for	for	ADP
fsr-3892	207	40	us	us	PROPN
fsr-3892	207	41	investors	investor	NOUN
fsr-3892	207	42	.	.	PUNCT
fsr-3892	208	1	this	this	DET
fsr-3892	208	2	evidence	evidence	NOUN
fsr-3892	208	3	may	may	AUX
fsr-3892	208	4	represent	represent	VERB
fsr-3892	208	5	a	a	DET
fsr-3892	208	6	partial	partial	ADJ
fsr-3892	208	7	explanation	explanation	NOUN
fsr-3892	208	8	for	for	ADP
fsr-3892	208	9	the	the	DET
fsr-3892	208	10	home	home	NOUN
fsr-3892	208	11	country	country	NOUN
fsr-3892	208	12	bias	bias	NOUN
fsr-3892	208	13	exhibited	exhibit	VERB
fsr-3892	208	14	by	by	ADP
fsr-3892	208	15	us	us	PROPN
fsr-3892	208	16	-	-	PUNCT
fsr-3892	208	17	based	base	VERB
fsr-3892	208	18	individual	individual	ADJ
fsr-3892	208	19	and	and	CCONJ
fsr-3892	208	20	institutional	institutional	ADJ
fsr-3892	208	21	investors	investor	NOUN
fsr-3892	208	22	.	.	PUNCT
fsr-3892	209	1	references	reference	NOUN
fsr-3892	209	2	aiello	aiello	PROPN
fsr-3892	209	3	,	,	PUNCT
fsr-3892	209	4	s.	s.	PROPN
fsr-3892	209	5	&	&	CCONJ
fsr-3892	209	6	chieffe	chieffe	PROPN
fsr-3892	209	7	,	,	PUNCT
fsr-3892	209	8	n.	n.	PROPN
fsr-3892	209	9	(	(	PUNCT
fsr-3892	209	10	1999	1999	NUM
fsr-3892	209	11	)	)	PUNCT
fsr-3892	209	12	.	.	PUNCT
fsr-3892	210	1	international	international	ADJ
fsr-3892	210	2	index	index	NOUN
fsr-3892	210	3	funds	fund	NOUN
fsr-3892	210	4	and	and	CCONJ
fsr-3892	210	5	the	the	DET
fsr-3892	210	6	investment	investment	NOUN
fsr-3892	210	7	portfolio.financial	portfolio.financial	PROPN
fsr-3892	210	8	services	service	NOUN
fsr-3892	210	9	review	review	NOUN
fsr-3892	210	10	,	,	PUNCT
fsr-3892	210	11	8(1	8(1	NOUN
fsr-3892	210	12	)	)	PUNCT
fsr-3892	210	13	,	,	PUNCT
fsr-3892	210	14	27–36	27–36	NUM
fsr-3892	210	15	.	.	PUNCT
fsr-3892	211	1	bailey	bailey	PROPN
fsr-3892	211	2	,	,	PUNCT
fsr-3892	211	3	w.	w.	PROPN
fsr-3892	211	4	&	&	CCONJ
fsr-3892	211	5	lim	lim	PROPN
fsr-3892	211	6	,	,	PUNCT
fsr-3892	211	7	j.	j.	PROPN
fsr-3892	211	8	(	(	PUNCT
fsr-3892	211	9	1992	1992	NUM
fsr-3892	211	10	)	)	PUNCT
fsr-3892	211	11	.	.	PUNCT
fsr-3892	212	1	evaluating	evaluate	VERB
fsr-3892	212	2	the	the	DET
fsr-3892	212	3	diversification	diversification	NOUN
fsr-3892	212	4	benefits	benefit	NOUN
fsr-3892	212	5	of	of	ADP
fsr-3892	212	6	the	the	DET
fsr-3892	212	7	new	new	ADJ
fsr-3892	212	8	country	country	NOUN
fsr-3892	212	9	funds.journal	funds.journal	ADJ
fsr-3892	212	10	of	of	ADP
fsr-3892	212	11	portfolio	portfolio	NOUN
fsr-3892	212	12	management	management	NOUN
fsr-3892	212	13	,	,	PUNCT
fsr-3892	212	14	18(3	18(3	NUM
fsr-3892	212	15	)	)	PUNCT
fsr-3892	212	16	,	,	PUNCT
fsr-3892	212	17	75–80	75–80	PROPN
fsr-3892	212	18	.	.	PROPN
fsr-3892	212	19	barry	barry	PROPN
fsr-3892	212	20	,	,	PUNCT
fsr-3892	212	21	c.	c.	PROPN
fsr-3892	212	22	b.	b.	PROPN
fsr-3892	212	23	,	,	PUNCT
fsr-3892	212	24	peavy	peavy	PROPN
fsr-3892	212	25	,	,	PUNCT
fsr-3892	212	26	j.	j.	PROPN
fsr-3892	212	27	w.	w.	PROPN
fsr-3892	212	28	,	,	PUNCT
fsr-3892	212	29	iii	iii	PROPN
fsr-3892	212	30	,	,	PUNCT
fsr-3892	212	31	&	&	CCONJ
fsr-3892	212	32	rodriguez	rodriguez	PROPN
fsr-3892	212	33	,	,	PUNCT
fsr-3892	212	34	m.	m.	NOUN
fsr-3892	212	35	(	(	PUNCT
fsr-3892	212	36	1997).emerging	1997).emerging	NUM
fsr-3892	212	37	stock	stock	NOUN
fsr-3892	212	38	markets	market	NOUN
fsr-3892	212	39	:	:	PUNCT
fsr-3892	212	40	risks	risk	NOUN
fsr-3892	212	41	,	,	PUNCT
fsr-3892	212	42	return	return	NOUN
fsr-3892	212	43	,	,	PUNCT
fsr-3892	212	44	and	and	CCONJ
fsr-3892	212	45	performance	performance	NOUN
fsr-3892	212	46	.	.	PUNCT
fsr-3892	213	1	charlottesville	charlottesville	PROPN
fsr-3892	213	2	,	,	PUNCT
fsr-3892	213	3	va	va	PROPN
fsr-3892	213	4	:	:	PUNCT
fsr-3892	213	5	research	research	NOUN
fsr-3892	213	6	foundation	foundation	NOUN
fsr-3892	213	7	of	of	ADP
fsr-3892	213	8	the	the	DET
fsr-3892	213	9	institute	institute	PROPN
fsr-3892	213	10	of	of	ADP
fsr-3892	213	11	chartered	chartered	ADJ
fsr-3892	213	12	financial	financial	ADJ
fsr-3892	213	13	analysts	analyst	NOUN
fsr-3892	213	14	.	.	PUNCT
fsr-3892	214	1	bers	ber	NOUN
fsr-3892	214	2	,	,	PUNCT
fsr-3892	214	3	m.	m.	PROPN
fsr-3892	214	4	k.	k.	PROPN
fsr-3892	214	5	(	(	PUNCT
fsr-3892	214	6	1998	1998	NUM
fsr-3892	214	7	)	)	PUNCT
fsr-3892	214	8	.	.	PUNCT
fsr-3892	215	1	causal	causal	ADJ
fsr-3892	215	2	relations	relation	NOUN
fsr-3892	215	3	among	among	ADP
fsr-3892	215	4	stock	stock	NOUN
fsr-3892	215	5	returns	return	NOUN
fsr-3892	215	6	,	,	PUNCT
fsr-3892	215	7	inflation	inflation	NOUN
fsr-3892	215	8	:	:	PUNCT
fsr-3892	215	9	persistence	persistence	NOUN
fsr-3892	215	10	of	of	ADP
fsr-3892	215	11	international	international	ADJ
fsr-3892	215	12	mutual	mutual	ADJ
fsr-3892	215	13	fund	fund	NOUN
fsr-3892	215	14	performance.global	performance.global	NUM
fsr-3892	215	15	finance	finance	NOUN
fsr-3892	215	16	journal	journal	NOUN
fsr-3892	215	17	,	,	PUNCT
fsr-3892	215	18	9	9	NUM
fsr-3892	215	19	,	,	PUNCT
fsr-3892	215	20	225–240	225–240	NUM
fsr-3892	215	21	.	.	PUNCT
fsr-3892	216	1	bookstaber	bookstaber	PROPN
fsr-3892	216	2	,	,	PUNCT
fsr-3892	216	3	r.	r.	PROPN
fsr-3892	216	4	(	(	PUNCT
fsr-3892	216	5	1997	1997	NUM
fsr-3892	216	6	)	)	PUNCT
fsr-3892	216	7	.	.	PUNCT
fsr-3892	217	1	global	global	ADJ
fsr-3892	217	2	risk	risk	NOUN
fsr-3892	217	3	management	management	NOUN
fsr-3892	217	4	:	:	PUNCT
fsr-3892	217	5	are	be	AUX
fsr-3892	217	6	we	we	PRON
fsr-3892	217	7	missing	miss	VERB
fsr-3892	217	8	the	the	DET
fsr-3892	217	9	point?the	point?the	PRON
fsr-3892	217	10	journal	journal	NOUN
fsr-3892	217	11	of	of	ADP
fsr-3892	217	12	portfolio	portfolio	NOUN
fsr-3892	217	13	management	management	NOUN
fsr-3892	217	14	,	,	PUNCT
fsr-3892	217	15	23(3	23(3	NUM
fsr-3892	217	16	)	)	PUNCT
fsr-3892	217	17	,	,	PUNCT
fsr-3892	217	18	102–107	102–107	NUM
fsr-3892	217	19	.	.	PUNCT
fsr-3892	217	20	booth	booth	PROPN
fsr-3892	217	21	,	,	PUNCT
fsr-3892	217	22	j.	j.	PROPN
fsr-3892	217	23	r.	r.	PROPN
fsr-3892	217	24	&	&	CCONJ
fsr-3892	217	25	booth	booth	PROPN
fsr-3892	217	26	,	,	PUNCT
fsr-3892	217	27	l.	l.	PROPN
fsr-3892	217	28	c.	c.	PROPN
fsr-3892	217	29	(	(	PUNCT
fsr-3892	217	30	1997	1997	NUM
fsr-3892	217	31	)	)	PUNCT
fsr-3892	217	32	.	.	PUNCT
fsr-3892	218	1	economic	economic	ADJ
fsr-3892	218	2	factors	factor	NOUN
fsr-3892	218	3	,	,	PUNCT
fsr-3892	218	4	monetary	monetary	ADJ
fsr-3892	218	5	policy	policy	NOUN
fsr-3892	218	6	,	,	PUNCT
fsr-3892	218	7	and	and	CCONJ
fsr-3892	218	8	expected	expect	VERB
fsr-3892	218	9	returns	return	NOUN
fsr-3892	218	10	on	on	ADP
fsr-3892	218	11	stocks	stock	NOUN
fsr-3892	218	12	and	and	CCONJ
fsr-3892	218	13	bonds	bond	NOUN
fsr-3892	218	14	,	,	PUNCT
fsr-3892	218	15	economic	economic	ADJ
fsr-3892	218	16	review	review	NOUN
fsr-3892	218	17	:	:	PUNCT
fsr-3892	218	18	federal	federal	PROPN
fsr-3892	218	19	reserve	reserve	PROPN
fsr-3892	218	20	bank	bank	PROPN
fsr-3892	218	21	of	of	ADP
fsr-3892	218	22	san	san	PROPN
fsr-3892	218	23	francisco	francisco	PROPN
fsr-3892	218	24	,	,	PUNCT
fsr-3892	218	25	32–42	32–42	NUM
fsr-3892	218	26	.	.	PUNCT
fsr-3892	219	1	209r.r	209r.r	X
fsr-3892	219	2	.	.	PUNCT
fsr-3892	220	1	johnson	johnson	PROPN
fsr-3892	220	2	et	et	PROPN
fsr-3892	220	3	al	al	PROPN
fsr-3892	220	4	.	.	PUNCT
fsr-3892	220	5	/	/	SYM
fsr-3892	220	6	financial	financial	ADJ
fsr-3892	220	7	services	service	NOUN
fsr-3892	220	8	review	review	VERB
fsr-3892	220	9	8	8	NUM
fsr-3892	220	10	(	(	PUNCT
fsr-3892	220	11	1999	1999	NUM
fsr-3892	220	12	)	)	PUNCT
fsr-3892	221	1	199–210	199–210	NUM
fsr-3892	221	2	campbell	campbell	PROPN
fsr-3892	221	3	,	,	PUNCT
fsr-3892	221	4	j.	j.	PROPN
fsr-3892	221	5	y.	y.	PROPN
fsr-3892	221	6	,	,	PUNCT
fsr-3892	221	7	lo	lo	PROPN
fsr-3892	221	8	,	,	PUNCT
fsr-3892	221	9	a.	a.	PROPN
fsr-3892	221	10	w.	w.	PROPN
fsr-3892	221	11	,	,	PUNCT
fsr-3892	221	12	&	&	CCONJ
fsr-3892	221	13	mackinlay	mackinlay	PROPN
fsr-3892	221	14	,	,	PUNCT
fsr-3892	221	15	a.	a.	PROPN
fsr-3892	221	16	c.	c.	PROPN
fsr-3892	221	17	(	(	PUNCT
fsr-3892	221	18	1997).the	1997).the	DET
fsr-3892	221	19	econometrics	econometric	NOUN
fsr-3892	221	20	of	of	ADP
fsr-3892	221	21	financial	financial	ADJ
fsr-3892	221	22	markets	market	NOUN
fsr-3892	221	23	.	.	PUNCT
fsr-3892	222	1	princeton	princeton	PROPN
fsr-3892	222	2	,	,	PUNCT
fsr-3892	222	3	nj	nj	PROPN
fsr-3892	222	4	:	:	PUNCT
fsr-3892	222	5	university	university	NOUN
fsr-3892	222	6	press	press	NOUN
fsr-3892	222	7	.	.	PUNCT
fsr-3892	223	1	chang	chang	PROPN
fsr-3892	223	2	,	,	PUNCT
fsr-3892	223	3	e.	e.	PROPN
fsr-3892	223	4	,	,	PUNCT
fsr-3892	223	5	eun	eun	PROPN
fsr-3892	223	6	,	,	PUNCT
fsr-3892	223	7	c.	c.	PROPN
fsr-3892	223	8	s.	s.	PROPN
fsr-3892	223	9	,	,	PUNCT
fsr-3892	223	10	&	&	CCONJ
fsr-3892	223	11	kolodny	kolodny	PROPN
fsr-3892	223	12	,	,	PUNCT
fsr-3892	223	13	r.	r.	PROPN
fsr-3892	223	14	(	(	PUNCT
fsr-3892	223	15	1995	1995	NUM
fsr-3892	223	16	)	)	PUNCT
fsr-3892	223	17	.	.	PUNCT
fsr-3892	224	1	international	international	ADJ
fsr-3892	224	2	diversification	diversification	NOUN
fsr-3892	224	3	through	through	ADP
fsr-3892	224	4	closed	close	VERB
fsr-3892	224	5	-	-	PUNCT
fsr-3892	224	6	end	end	NOUN
fsr-3892	224	7	country	country	NOUN
fsr-3892	224	8	funds	fund	NOUN
fsr-3892	224	9	.	.	PUNCT
fsr-3892	225	1	journal	journal	NOUN
fsr-3892	225	2	of	of	ADP
fsr-3892	225	3	banking	banking	NOUN
fsr-3892	225	4	and	and	CCONJ
fsr-3892	225	5	finance	finance	NOUN
fsr-3892	225	6	,	,	PUNCT
fsr-3892	225	7	19	19	NUM
fsr-3892	225	8	,	,	PUNCT
fsr-3892	225	9	1237–1263	1237–1263	NUM
fsr-3892	225	10	.	.	PUNCT
fsr-3892	226	1	conover	conover	PROPN
fsr-3892	226	2	,	,	PUNCT
fsr-3892	226	3	c.	c.	PROPN
fsr-3892	226	4	m.	m.	PROPN
fsr-3892	226	5	,	,	PUNCT
fsr-3892	226	6	jensen	jensen	PROPN
fsr-3892	226	7	,	,	PUNCT
fsr-3892	226	8	g.	g.	PROPN
fsr-3892	226	9	r.	r.	PROPN
fsr-3892	226	10	,	,	PUNCT
fsr-3892	226	11	&	&	CCONJ
fsr-3892	226	12	johnson	johnson	PROPN
fsr-3892	226	13	,	,	PUNCT
fsr-3892	226	14	r.	r.	PROPN
fsr-3892	226	15	r.	r.	PROPN
fsr-3892	226	16	(	(	PUNCT
fsr-3892	226	17	1999a	1999a	NUM
fsr-3892	226	18	)	)	PUNCT
fsr-3892	226	19	.	.	PUNCT
fsr-3892	227	1	monetary	monetary	ADJ
fsr-3892	227	2	conditions	condition	NOUN
fsr-3892	227	3	and	and	CCONJ
fsr-3892	227	4	international	international	ADJ
fsr-3892	227	5	investing	investing	NOUN
fsr-3892	227	6	.	.	PUNCT
fsr-3892	228	1	financial	financial	ADJ
fsr-3892	228	2	analysts	analyst	NOUN
fsr-3892	228	3	journal	journal	NOUN
fsr-3892	228	4	,	,	PUNCT
fsr-3892	228	5	55(4	55(4	NUM
fsr-3892	228	6	)	)	PUNCT
fsr-3892	228	7	,	,	PUNCT
fsr-3892	228	8	38–48	38–48	NUM
fsr-3892	228	9	.	.	PUNCT
fsr-3892	229	1	cooper	cooper	PROPN
fsr-3892	229	2	,	,	PUNCT
fsr-3892	229	3	i.	i.	PROPN
fsr-3892	229	4	&	&	CCONJ
fsr-3892	229	5	kaplanis	kaplanis	PROPN
fsr-3892	229	6	,	,	PUNCT
fsr-3892	229	7	e.	e.	PROPN
fsr-3892	229	8	(	(	PUNCT
fsr-3892	229	9	1994	1994	NUM
fsr-3892	229	10	)	)	PUNCT
fsr-3892	229	11	.	.	PUNCT
fsr-3892	230	1	home	home	NOUN
fsr-3892	230	2	equity	equity	NOUN
fsr-3892	230	3	bias	bias	NOUN
fsr-3892	230	4	in	in	ADP
fsr-3892	230	5	equity	equity	NOUN
fsr-3892	230	6	portfolio	portfolio	NOUN
fsr-3892	230	7	,	,	PUNCT
fsr-3892	230	8	inflation	inflation	NOUN
fsr-3892	230	9	hedging	hedging	NOUN
fsr-3892	230	10	,	,	PUNCT
fsr-3892	230	11	and	and	CCONJ
fsr-3892	230	12	international	international	ADJ
fsr-3892	230	13	capital	capital	NOUN
fsr-3892	230	14	market	market	NOUN
fsr-3892	230	15	equilibrium	equilibrium	NOUN
fsr-3892	230	16	,	,	PUNCT
fsr-3892	230	17	review	review	NOUN
fsr-3892	230	18	of	of	ADP
fsr-3892	230	19	financial	financial	ADJ
fsr-3892	230	20	studies	study	NOUN
fsr-3892	230	21	,	,	PUNCT
fsr-3892	230	22	7	7	NUM
fsr-3892	230	23	,	,	PUNCT
fsr-3892	230	24	45–60	45–60	PROPN
fsr-3892	230	25	.	.	PUNCT
fsr-3892	231	1	erb	erb	PROPN
fsr-3892	231	2	,	,	PUNCT
fsr-3892	231	3	c.	c.	PROPN
fsr-3892	231	4	b.	b.	PROPN
fsr-3892	231	5	,	,	PUNCT
fsr-3892	231	6	harvey	harvey	PROPN
fsr-3892	231	7	,	,	PUNCT
fsr-3892	231	8	c.	c.	PROPN
fsr-3892	231	9	r.	r.	PROPN
fsr-3892	231	10	,	,	PUNCT
fsr-3892	231	11	&	&	CCONJ
fsr-3892	231	12	viskanta	viskanta	PROPN
fsr-3892	231	13	,	,	PUNCT
fsr-3892	231	14	t.	t.	PROPN
fsr-3892	231	15	e.	e.	PROPN
fsr-3892	231	16	(	(	PUNCT
fsr-3892	231	17	1994	1994	NUM
fsr-3892	231	18	)	)	PUNCT
fsr-3892	231	19	.	.	PUNCT
fsr-3892	232	1	forecasting	forecast	VERB
fsr-3892	232	2	international	international	ADJ
fsr-3892	232	3	equity	equity	NOUN
fsr-3892	232	4	correlations.financial	correlations.financial	ADJ
fsr-3892	232	5	analysts	analyst	NOUN
fsr-3892	232	6	journal	journal	NOUN
fsr-3892	232	7	,	,	PUNCT
fsr-3892	232	8	50(6	50(6	NUM
fsr-3892	232	9	)	)	PUNCT
fsr-3892	232	10	,	,	PUNCT
fsr-3892	232	11	39–45	39–45	NUM
fsr-3892	232	12	.	.	PUNCT
fsr-3892	233	1	gorman	gorman	PROPN
fsr-3892	233	2	,	,	PUNCT
fsr-3892	233	3	s.	s.	PROPN
fsr-3892	233	4	a.	a.	PROPN
fsr-3892	233	5	(	(	PUNCT
fsr-3892	233	6	1998).the	1998).the	PRON
fsr-3892	233	7	international	international	ADJ
fsr-3892	233	8	equity	equity	NOUN
fsr-3892	233	9	commitment	commitment	NOUN
fsr-3892	233	10	.	.	PUNCT
fsr-3892	234	1	charlottesville	charlottesville	PROPN
fsr-3892	234	2	,	,	PUNCT
fsr-3892	234	3	va	va	PROPN
fsr-3892	234	4	:	:	PUNCT
fsr-3892	234	5	research	research	NOUN
fsr-3892	234	6	foundation	foundation	NOUN
fsr-3892	234	7	of	of	ADP
fsr-3892	234	8	the	the	DET
fsr-3892	234	9	institute	institute	PROPN
fsr-3892	234	10	of	of	ADP
fsr-3892	234	11	chartered	chartered	ADJ
fsr-3892	234	12	financial	financial	ADJ
fsr-3892	234	13	analysts	analyst	NOUN
fsr-3892	234	14	.	.	PUNCT
fsr-3892	235	1	hanna	hanna	PROPN
fsr-3892	235	2	,	,	PUNCT
fsr-3892	235	3	m.	m.	PROPN
fsr-3892	235	4	e.	e.	PROPN
fsr-3892	235	5	,	,	PUNCT
fsr-3892	235	6	mccormack	mccormack	PROPN
fsr-3892	235	7	,	,	PUNCT
fsr-3892	235	8	j.	j.	PROPN
fsr-3892	235	9	p.	p.	PROPN
fsr-3892	235	10	,	,	PUNCT
fsr-3892	235	11	&	&	CCONJ
fsr-3892	235	12	perdue	perdue	PROPN
fsr-3892	235	13	,	,	PUNCT
fsr-3892	235	14	g.	g.	PROPN
fsr-3892	235	15	(	(	PUNCT
fsr-3892	235	16	1999	1999	NUM
fsr-3892	235	17	)	)	PUNCT
fsr-3892	235	18	.	.	PUNCT
fsr-3892	236	1	a	a	DET
fsr-3892	236	2	nineties	ninety	NOUN
fsr-3892	236	3	perspective	perspective	NOUN
fsr-3892	236	4	of	of	ADP
fsr-3892	236	5	international	international	ADJ
fsr-3892	236	6	diversification	diversification	NOUN
fsr-3892	236	7	.	.	PUNCT
fsr-3892	237	1	financial	financial	ADJ
fsr-3892	237	2	services	service	NOUN
fsr-3892	237	3	review	review	PROPN
fsr-3892	237	4	,	,	PUNCT
fsr-3892	237	5	8(1	8(1	NOUN
fsr-3892	237	6	)	)	PUNCT
fsr-3892	237	7	,	,	PUNCT
fsr-3892	237	8	37–46	37–46	NUM
fsr-3892	237	9	.	.	PUNCT
fsr-3892	238	1	ho	ho	PROPN
fsr-3892	238	2	,	,	PUNCT
fsr-3892	238	3	k.	k.	PROPN
fsr-3892	238	4	,	,	PUNCT
fsr-3892	238	5	milvesky	milvesky	ADJ
fsr-3892	238	6	,	,	PUNCT
fsr-3892	238	7	m.	m.	NOUN
fsr-3892	238	8	a.	a.	PROPN
fsr-3892	238	9	,	,	PUNCT
fsr-3892	238	10	&	&	CCONJ
fsr-3892	238	11	robinson	robinson	PROPN
fsr-3892	238	12	,	,	PUNCT
fsr-3892	238	13	c.	c.	PROPN
fsr-3892	238	14	(	(	PUNCT
fsr-3892	238	15	1999	1999	NUM
fsr-3892	238	16	)	)	PUNCT
fsr-3892	238	17	.	.	PUNCT
fsr-3892	239	1	international	international	ADJ
fsr-3892	239	2	equity	equity	NOUN
fsr-3892	239	3	diversification	diversification	NOUN
fsr-3892	239	4	and	and	CCONJ
fsr-3892	239	5	shortfall	shortfall	NOUN
fsr-3892	239	6	risk.financial	risk.financial	PROPN
fsr-3892	239	7	services	service	NOUN
fsr-3892	239	8	review	review	NOUN
fsr-3892	239	9	,	,	PUNCT
fsr-3892	239	10	8(1	8(1	NOUN
fsr-3892	239	11	)	)	PUNCT
fsr-3892	239	12	,	,	PUNCT
fsr-3892	239	13	11–26	11–26	NUM
fsr-3892	239	14	.	.	PUNCT
fsr-3892	240	1	ibbotson	ibbotson	PROPN
fsr-3892	240	2	associates	associates	PROPN
fsr-3892	240	3	.	.	PUNCT
fsr-3892	241	1	(	(	PUNCT
fsr-3892	241	2	1999).stocks	1999).stocks	NUM
fsr-3892	241	3	,	,	PUNCT
fsr-3892	241	4	bonds	bond	NOUN
fsr-3892	241	5	,	,	PUNCT
fsr-3892	241	6	bills	bill	NOUN
fsr-3892	241	7	and	and	CCONJ
fsr-3892	241	8	inflation	inflation	NOUN
fsr-3892	241	9	:	:	PUNCT
fsr-3892	241	10	1999	1999	NUM
fsr-3892	241	11	yearbook	yearbook	NOUN
fsr-3892	241	12	.	.	PUNCT
fsr-3892	242	1	chicago	chicago	PROPN
fsr-3892	242	2	:	:	PUNCT
fsr-3892	242	3	ibbotson	ibbotson	PROPN
fsr-3892	242	4	associates	associates	PROPN
fsr-3892	242	5	.	.	PUNCT
fsr-3892	243	1	jensen	jensen	PROPN
fsr-3892	243	2	,	,	PUNCT
fsr-3892	243	3	g.	g.	PROPN
fsr-3892	243	4	r.	r.	PROPN
fsr-3892	243	5	&	&	CCONJ
fsr-3892	243	6	johnson	johnson	PROPN
fsr-3892	243	7	,	,	PUNCT
fsr-3892	243	8	r.	r.	PROPN
fsr-3892	243	9	r.	r.	PROPN
fsr-3892	243	10	(	(	PUNCT
fsr-3892	243	11	1993	1993	NUM
fsr-3892	243	12	)	)	PUNCT
fsr-3892	243	13	.	.	PUNCT
fsr-3892	244	1	an	an	DET
fsr-3892	244	2	examination	examination	NOUN
fsr-3892	244	3	of	of	ADP
fsr-3892	244	4	stock	stock	NOUN
fsr-3892	244	5	price	price	NOUN
fsr-3892	244	6	reactions	reaction	NOUN
fsr-3892	244	7	to	to	PART
fsr-3892	244	8	discount	discount	VERB
fsr-3892	244	9	rate	rate	NOUN
fsr-3892	244	10	changes	change	NOUN
fsr-3892	244	11	under	under	ADP
fsr-3892	244	12	alternative	alternative	ADJ
fsr-3892	244	13	monetary	monetary	ADJ
fsr-3892	244	14	policy	policy	NOUN
fsr-3892	244	15	regimes.quarterly	regimes.quarterly	NOUN
fsr-3892	244	16	journal	journal	NOUN
fsr-3892	244	17	of	of	ADP
fsr-3892	244	18	business	business	NOUN
fsr-3892	244	19	and	and	CCONJ
fsr-3892	244	20	economics	economic	NOUN
fsr-3892	244	21	,	,	PUNCT
fsr-3892	244	22	32	32	NUM
fsr-3892	244	23	,	,	PUNCT
fsr-3892	244	24	26–51	26–51	NUM
fsr-3892	244	25	.	.	PUNCT
fsr-3892	245	1	jensen	jensen	PROPN
fsr-3892	245	2	,	,	PUNCT
fsr-3892	245	3	g.	g.	PROPN
fsr-3892	245	4	r.	r.	PROPN
fsr-3892	245	5	,	,	PUNCT
fsr-3892	245	6	mercer	mercer	PROPN
fsr-3892	245	7	,	,	PUNCT
fsr-3892	245	8	j.	j.	PROPN
fsr-3892	245	9	,	,	PUNCT
fsr-3892	245	10	&	&	CCONJ
fsr-3892	245	11	johnson	johnson	PROPN
fsr-3892	245	12	,	,	PUNCT
fsr-3892	245	13	r.	r.	PROPN
fsr-3892	245	14	r.	r.	PROPN
fsr-3892	245	15	(	(	PUNCT
fsr-3892	245	16	1996	1996	NUM
fsr-3892	245	17	)	)	PUNCT
fsr-3892	245	18	.	.	PUNCT
fsr-3892	246	1	business	business	NOUN
fsr-3892	246	2	conditions	condition	NOUN
fsr-3892	246	3	,	,	PUNCT
fsr-3892	246	4	monetary	monetary	ADJ
fsr-3892	246	5	policy	policy	NOUN
fsr-3892	246	6	,	,	PUNCT
fsr-3892	246	7	and	and	CCONJ
fsr-3892	246	8	expected	expect	VERB
fsr-3892	246	9	security	security	NOUN
fsr-3892	246	10	returns.journal	returns.journal	ADJ
fsr-3892	246	11	of	of	ADP
fsr-3892	246	12	financial	financial	ADJ
fsr-3892	246	13	economics	economic	NOUN
fsr-3892	246	14	,	,	PUNCT
fsr-3892	246	15	40	40	NUM
fsr-3892	246	16	,	,	PUNCT
fsr-3892	246	17	213–237	213–237	NUM
fsr-3892	246	18	.	.	PUNCT
fsr-3892	247	1	johnson	johnson	PROPN
fsr-3892	247	2	,	,	PUNCT
fsr-3892	247	3	r.	r.	PROPN
fsr-3892	247	4	r.	r.	PROPN
fsr-3892	247	5	&	&	CCONJ
fsr-3892	247	6	jensen	jensen	PROPN
fsr-3892	247	7	,	,	PUNCT
fsr-3892	247	8	g.	g.	PROPN
fsr-3892	247	9	r.	r.	PROPN
fsr-3892	247	10	(	(	PUNCT
fsr-3892	247	11	1993	1993	NUM
fsr-3892	247	12	)	)	PUNCT
fsr-3892	247	13	.	.	PUNCT
fsr-3892	248	1	the	the	DET
fsr-3892	248	2	reaction	reaction	NOUN
fsr-3892	248	3	of	of	ADP
fsr-3892	248	4	foreign	foreign	ADJ
fsr-3892	248	5	stock	stock	NOUN
fsr-3892	248	6	markets	market	NOUN
fsr-3892	248	7	to	to	ADP
fsr-3892	248	8	u.s	u.s	PROPN
fsr-3892	248	9	.	.	PROPN
fsr-3892	248	10	discount	discount	NOUN
fsr-3892	248	11	rate	rate	NOUN
fsr-3892	248	12	changes	change	NOUN
fsr-3892	248	13	.	.	PUNCT
fsr-3892	249	1	international	international	ADJ
fsr-3892	249	2	review	review	NOUN
fsr-3892	249	3	of	of	ADP
fsr-3892	249	4	economics	economic	NOUN
fsr-3892	249	5	and	and	CCONJ
fsr-3892	249	6	finance	finance	NOUN
fsr-3892	249	7	,	,	PUNCT
fsr-3892	249	8	2	2	NUM
fsr-3892	249	9	,	,	PUNCT
fsr-3892	249	10	181–193	181–193	NUM
fsr-3892	249	11	.	.	PUNCT
fsr-3892	250	1	jones	jones	PROPN
fsr-3892	250	2	,	,	PUNCT
fsr-3892	250	3	d.	d.	PROPN
fsr-3892	250	4	m.	m.	PROPN
fsr-3892	250	5	(	(	PUNCT
fsr-3892	250	6	1989).fed	1989).fed	NUM
fsr-3892	250	7	watching	watching	NOUN
fsr-3892	250	8	and	and	CCONJ
fsr-3892	250	9	interest	interest	NOUN
fsr-3892	250	10	rate	rate	NOUN
fsr-3892	250	11	projections	projection	NOUN
fsr-3892	250	12	.	.	PUNCT
fsr-3892	251	1	new	new	PROPN
fsr-3892	251	2	york	york	PROPN
fsr-3892	251	3	:	:	PUNCT
fsr-3892	251	4	new	new	PROPN
fsr-3892	251	5	york	york	PROPN
fsr-3892	251	6	institute	institute	PROPN
fsr-3892	251	7	of	of	ADP
fsr-3892	251	8	finance	finance	PROPN
fsr-3892	251	9	.	.	PUNCT
fsr-3892	252	1	longin	longin	PROPN
fsr-3892	252	2	,	,	PUNCT
fsr-3892	252	3	f.	f.	PROPN
fsr-3892	252	4	&	&	CCONJ
fsr-3892	252	5	solnik	solnik	PROPN
fsr-3892	252	6	,	,	PUNCT
fsr-3892	252	7	b.	b.	PROPN
fsr-3892	252	8	(	(	PUNCT
fsr-3892	252	9	1995	1995	NUM
fsr-3892	252	10	)	)	PUNCT
fsr-3892	252	11	.	.	PUNCT
fsr-3892	253	1	is	be	AUX
fsr-3892	253	2	the	the	DET
fsr-3892	253	3	correlation	correlation	NOUN
fsr-3892	253	4	of	of	ADP
fsr-3892	253	5	international	international	ADJ
fsr-3892	253	6	equity	equity	NOUN
fsr-3892	253	7	returns	return	NOUN
fsr-3892	253	8	constant	constant	ADJ
fsr-3892	253	9	:	:	PUNCT
fsr-3892	253	10	1970–1990?journal	1970–1990?journal	NUM
fsr-3892	253	11	of	of	ADP
fsr-3892	253	12	international	international	ADJ
fsr-3892	253	13	money	money	NOUN
fsr-3892	253	14	and	and	CCONJ
fsr-3892	253	15	finance	finance	NOUN
fsr-3892	253	16	,	,	PUNCT
fsr-3892	253	17	14	14	NUM
fsr-3892	253	18	,	,	PUNCT
fsr-3892	253	19	3–26	3–26	NUM
fsr-3892	253	20	.	.	PUNCT
fsr-3892	254	1	melton	melton	PROPN
fsr-3892	254	2	,	,	PUNCT
fsr-3892	255	1	p.	p.	PROPN
fsr-3892	255	2	(	(	PUNCT
fsr-3892	255	3	1996).the	1996).the	NUM
fsr-3892	255	4	investor	investor	NOUN
fsr-3892	255	5	’s	’s	PART
fsr-3892	255	6	guide	guide	NOUN
fsr-3892	255	7	to	to	ADP
fsr-3892	255	8	going	go	VERB
fsr-3892	255	9	global	global	ADJ
fsr-3892	255	10	with	with	ADP
fsr-3892	255	11	equities	equity	NOUN
fsr-3892	255	12	.	.	PUNCT
fsr-3892	256	1	london	london	PROPN
fsr-3892	256	2	:	:	PUNCT
fsr-3892	256	3	pitman	pitman	NOUN
fsr-3892	256	4	publishing	publishing	NOUN
fsr-3892	256	5	.	.	PUNCT
fsr-3892	257	1	morningstar	morningstar	PROPN
fsr-3892	257	2	.	.	PUNCT
fsr-3892	258	1	(	(	PUNCT
fsr-3892	258	2	1998–1999).morningstar	1998–1999).morningstar	NUM
fsr-3892	258	3	mutual	mutual	ADJ
fsr-3892	258	4	fund	fund	NOUN
fsr-3892	258	5	500	500	NUM
fsr-3892	258	6	.	.	PUNCT
fsr-3892	259	1	chicago	chicago	PROPN
fsr-3892	259	2	:	:	PUNCT
fsr-3892	259	3	morningstar	morningstar	PROPN
fsr-3892	259	4	.	.	PUNCT
fsr-3892	260	1	patelis	patelis	PROPN
fsr-3892	260	2	,	,	PUNCT
fsr-3892	260	3	a.	a.	NOUN
fsr-3892	260	4	(	(	PUNCT
fsr-3892	260	5	1997	1997	NUM
fsr-3892	260	6	)	)	PUNCT
fsr-3892	260	7	.	.	PUNCT
fsr-3892	261	1	stock	stock	NOUN
fsr-3892	261	2	return	return	NOUN
fsr-3892	261	3	predictability	predictability	NOUN
fsr-3892	261	4	and	and	CCONJ
fsr-3892	261	5	the	the	DET
fsr-3892	261	6	role	role	NOUN
fsr-3892	261	7	of	of	ADP
fsr-3892	261	8	the	the	DET
fsr-3892	261	9	monetary	monetary	ADJ
fsr-3892	261	10	sector.journal	sector.journal	PROPN
fsr-3892	261	11	of	of	ADP
fsr-3892	261	12	finance	finance	NOUN
fsr-3892	261	13	,	,	PUNCT
fsr-3892	261	14	52	52	NUM
fsr-3892	261	15	,	,	PUNCT
fsr-3892	261	16	1951–1972	1951–1972	NUM
fsr-3892	261	17	.	.	PUNCT
fsr-3892	262	1	prather	prather	PROPN
fsr-3892	262	2	,	,	PUNCT
fsr-3892	262	3	l.	l.	PROPN
fsr-3892	262	4	&	&	CCONJ
fsr-3892	262	5	bertin	bertin	PROPN
fsr-3892	262	6	,	,	PUNCT
fsr-3892	262	7	w.	w.	PROPN
fsr-3892	262	8	(	(	PUNCT
fsr-3892	262	9	1997	1997	NUM
fsr-3892	262	10	)	)	PUNCT
fsr-3892	262	11	.	.	PUNCT
fsr-3892	263	1	a	a	DET
fsr-3892	263	2	simple	simple	ADJ
fsr-3892	263	3	and	and	CCONJ
fsr-3892	263	4	effective	effective	ADJ
fsr-3892	263	5	trading	trading	NOUN
fsr-3892	263	6	rule	rule	NOUN
fsr-3892	263	7	for	for	ADP
fsr-3892	263	8	individual	individual	ADJ
fsr-3892	263	9	investors.financial	investors.financial	PROPN
fsr-3892	263	10	services	service	NOUN
fsr-3892	263	11	review	review	NOUN
fsr-3892	263	12	,	,	PUNCT
fsr-3892	263	13	6	6	NUM
fsr-3892	263	14	,	,	PUNCT
fsr-3892	263	15	285–294	285–294	NUM
fsr-3892	263	16	.	.	PUNCT
fsr-3892	264	1	russell	russell	PROPN
fsr-3892	264	2	,	,	PUNCT
fsr-3892	264	3	j.	j.	PROPN
fsr-3892	264	4	w.	w.	PROPN
fsr-3892	264	5	(	(	PUNCT
fsr-3892	264	6	1998	1998	NUM
fsr-3892	264	7	)	)	PUNCT
fsr-3892	264	8	.	.	PUNCT
fsr-3892	265	1	the	the	DET
fsr-3892	265	2	international	international	ADJ
fsr-3892	265	3	diversification	diversification	NOUN
fsr-3892	265	4	fallacy	fallacy	NOUN
fsr-3892	265	5	of	of	ADP
fsr-3892	265	6	exchange	exchange	NOUN
fsr-3892	265	7	-	-	PUNCT
fsr-3892	265	8	listed	list	VERB
fsr-3892	265	9	securities.financial	securities.financial	PROPN
fsr-3892	265	10	services	service	NOUN
fsr-3892	265	11	review	review	NOUN
fsr-3892	265	12	,	,	PUNCT
fsr-3892	265	13	7	7	NUM
fsr-3892	265	14	,	,	PUNCT
fsr-3892	265	15	95–106	95–106	PROPN
fsr-3892	265	16	.	.	PUNCT
fsr-3892	266	1	shawky	shawky	PROPN
fsr-3892	266	2	,	,	PUNCT
fsr-3892	266	3	h.	h.	PROPN
fsr-3892	266	4	a.	a.	PROPN
fsr-3892	266	5	,	,	PUNCT
fsr-3892	266	6	kuenzel	kuenzel	PROPN
fsr-3892	266	7	,	,	PUNCT
fsr-3892	266	8	r.	r.	PROPN
fsr-3892	266	9	,	,	PUNCT
fsr-3892	266	10	&	&	CCONJ
fsr-3892	266	11	mikhail	mikhail	PROPN
fsr-3892	266	12	,	,	PUNCT
fsr-3892	266	13	a.	a.	PROPN
fsr-3892	266	14	d.	d.	PROPN
fsr-3892	266	15	(	(	PUNCT
fsr-3892	266	16	1997	1997	NUM
fsr-3892	266	17	)	)	PUNCT
fsr-3892	266	18	.	.	PUNCT
fsr-3892	267	1	international	international	ADJ
fsr-3892	267	2	portfolio	portfolio	NOUN
fsr-3892	267	3	diversification	diversification	NOUN
fsr-3892	267	4	:	:	PUNCT
fsr-3892	267	5	a	a	DET
fsr-3892	267	6	synthesis	synthesis	NOUN
fsr-3892	267	7	and	and	CCONJ
fsr-3892	267	8	update.journal	update.journal	ADJ
fsr-3892	267	9	of	of	ADP
fsr-3892	267	10	international	international	ADJ
fsr-3892	267	11	financial	financial	ADJ
fsr-3892	267	12	markets	market	NOUN
fsr-3892	267	13	,	,	PUNCT
fsr-3892	267	14	institutions	institution	NOUN
fsr-3892	267	15	and	and	CCONJ
fsr-3892	267	16	money	money	NOUN
fsr-3892	267	17	,	,	PUNCT
fsr-3892	267	18	7	7	NUM
fsr-3892	267	19	,	,	PUNCT
fsr-3892	267	20	303–327	303–327	NUM
fsr-3892	267	21	.	.	PUNCT
fsr-3892	268	1	sinquefield	sinquefield	PROPN
fsr-3892	268	2	,	,	PUNCT
fsr-3892	268	3	r.	r.	PROPN
fsr-3892	268	4	(	(	PUNCT
fsr-3892	268	5	1996	1996	NUM
fsr-3892	268	6	)	)	PUNCT
fsr-3892	268	7	.	.	PUNCT
fsr-3892	269	1	where	where	SCONJ
fsr-3892	269	2	are	be	AUX
fsr-3892	269	3	the	the	DET
fsr-3892	269	4	gains	gain	NOUN
fsr-3892	269	5	from	from	ADP
fsr-3892	269	6	international	international	ADJ
fsr-3892	269	7	diversification?financial	diversification?financial	PROPN
fsr-3892	269	8	analysts	analyst	NOUN
fsr-3892	269	9	journal	journal	NOUN
fsr-3892	269	10	,	,	PUNCT
fsr-3892	269	11	52(1	52(1	NOUN
fsr-3892	269	12	)	)	PUNCT
fsr-3892	269	13	,	,	PUNCT
fsr-3892	269	14	8–14	8–14	PROPN
fsr-3892	269	15	.	.	PUNCT
fsr-3892	270	1	solnik	solnik	PROPN
fsr-3892	270	2	,	,	PUNCT
fsr-3892	270	3	b.	b.	PROPN
fsr-3892	270	4	,	,	PUNCT
fsr-3892	270	5	boucrelle	boucrelle	PROPN
fsr-3892	270	6	,	,	PUNCT
fsr-3892	270	7	c.	c.	PROPN
fsr-3892	270	8	,	,	PUNCT
fsr-3892	270	9	&	&	CCONJ
fsr-3892	270	10	lefur	lefur	PROPN
fsr-3892	270	11	,	,	PUNCT
fsr-3892	270	12	y.	y.	NOUN
fsr-3892	270	13	(	(	PUNCT
fsr-3892	270	14	1996	1996	NUM
fsr-3892	270	15	)	)	PUNCT
fsr-3892	270	16	.	.	PUNCT
fsr-3892	271	1	international	international	ADJ
fsr-3892	271	2	market	market	NOUN
fsr-3892	271	3	correlation	correlation	NOUN
fsr-3892	271	4	and	and	CCONJ
fsr-3892	271	5	volatility.financial	volatility.financial	ADJ
fsr-3892	271	6	analysts	analyst	NOUN
fsr-3892	271	7	journal	journal	NOUN
fsr-3892	271	8	,	,	PUNCT
fsr-3892	271	9	52(5	52(5	NUM
fsr-3892	271	10	)	)	PUNCT
fsr-3892	271	11	,	,	PUNCT
fsr-3892	271	12	17–34	17–34	NUM
fsr-3892	271	13	.	.	PUNCT
fsr-3892	272	1	stuart	stuart	PROPN
fsr-3892	272	2	,	,	PUNCT
fsr-3892	272	3	a.	a.	PROPN
fsr-3892	272	4	&	&	CCONJ
fsr-3892	272	5	ord	ord	PROPN
fsr-3892	272	6	,	,	PUNCT
fsr-3892	272	7	k.	k.	PROPN
fsr-3892	273	1	(	(	PUNCT
fsr-3892	273	2	1987).kendall	1987).kendall	NUM
fsr-3892	273	3	’s	’s	PART
fsr-3892	273	4	advanced	advanced	ADJ
fsr-3892	273	5	theory	theory	NOUN
fsr-3892	273	6	of	of	ADP
fsr-3892	273	7	statistics(vol	statistics(vol	NOUN
fsr-3892	273	8	.	.	PUNCT
fsr-3892	274	1	1	1	NUM
fsr-3892	274	2	)	)	PUNCT
fsr-3892	274	3	.	.	PUNCT
fsr-3892	275	1	new	new	PROPN
fsr-3892	275	2	york	york	PROPN
fsr-3892	275	3	:	:	PUNCT
fsr-3892	275	4	oxford	oxford	PROPN
fsr-3892	275	5	university	university	PROPN
fsr-3892	275	6	press	press	NOUN
fsr-3892	275	7	.	.	PUNCT
fsr-3892	276	1	tesar	tesar	ADJ
fsr-3892	276	2	,	,	PUNCT
fsr-3892	276	3	l.	l.	PROPN
fsr-3892	276	4	l.	l.	PROPN
fsr-3892	276	5	&	&	CCONJ
fsr-3892	276	6	werner	werner	PROPN
fsr-3892	276	7	,	,	PUNCT
fsr-3892	276	8	i.	i.	PROPN
fsr-3892	276	9	m.	m.	PROPN
fsr-3892	276	10	(	(	PUNCT
fsr-3892	276	11	1995	1995	NUM
fsr-3892	276	12	)	)	PUNCT
fsr-3892	276	13	.	.	PUNCT
fsr-3892	277	1	home	home	NOUN
fsr-3892	277	2	bias	bias	NOUN
fsr-3892	277	3	and	and	CCONJ
fsr-3892	277	4	high	high	ADJ
fsr-3892	277	5	turnover.journal	turnover.journal	NOUN
fsr-3892	277	6	of	of	ADP
fsr-3892	277	7	international	international	ADJ
fsr-3892	277	8	money	money	NOUN
fsr-3892	277	9	and	and	CCONJ
fsr-3892	277	10	finance	finance	NOUN
fsr-3892	277	11	,	,	PUNCT
fsr-3892	277	12	14	14	NUM
fsr-3892	277	13	,	,	PUNCT
fsr-3892	277	14	467–492	467–492	NUM
fsr-3892	277	15	.	.	PUNCT
fsr-3892	277	16	thorbecke	thorbecke	NOUN
fsr-3892	277	17	,	,	PUNCT
fsr-3892	277	18	w.	w.	PROPN
fsr-3892	277	19	(	(	PUNCT
fsr-3892	277	20	1997	1997	NUM
fsr-3892	277	21	)	)	PUNCT
fsr-3892	277	22	.	.	PUNCT
fsr-3892	278	1	on	on	ADP
fsr-3892	278	2	stock	stock	NOUN
fsr-3892	278	3	market	market	NOUN
fsr-3892	278	4	returns	return	NOUN
fsr-3892	278	5	and	and	CCONJ
fsr-3892	278	6	monetary	monetary	ADJ
fsr-3892	278	7	policy.journal	policy.journal	PROPN
fsr-3892	278	8	of	of	ADP
fsr-3892	278	9	finance	finance	NOUN
fsr-3892	278	10	,	,	PUNCT
fsr-3892	278	11	52	52	NUM
fsr-3892	278	12	,	,	PUNCT
fsr-3892	278	13	635–654	635–654	NUM
fsr-3892	278	14	.	.	PUNCT
fsr-3892	279	1	210	210	NUM
fsr-3892	279	2	r.r	r.r	PROPN
fsr-3892	279	3	.	.	PROPN
fsr-3892	279	4	johnson	johnson	PROPN
fsr-3892	279	5	et	et	PROPN
fsr-3892	279	6	al	al	PROPN
fsr-3892	279	7	.	.	PUNCT
fsr-3892	279	8	/	/	SYM
fsr-3892	279	9	financial	financial	ADJ
fsr-3892	279	10	services	service	NOUN
fsr-3892	279	11	review	review	VERB
fsr-3892	279	12	8	8	NUM
fsr-3892	279	13	(	(	PUNCT
fsr-3892	279	14	1999	1999	NUM
fsr-3892	279	15	)	)	PUNCT
fsr-3892	280	1	199–210	199–210	NUM