Plausibly Exogenous [1966] - Portfolio Diversification (06/21/2025)

LHS Variable
Investment in financial sector’s long-term bond debt

RHS Variable
Insurer Size

Source of Exogenous Variation
Regulatory reform in 2017 that extended insurers' access to bond exchange-traded funds

- Damast (2024), “Insurers Use Banks for Portfolio Diversification”