​ "​Behind Those Stockpiles of Corporate Cash" from Sunday'​s N.​Y. Times reviews an NBER economics paper, "​Why Do Firms Hold So Much More Cash Than They Used To?". The study argues that the dramatic rise in U.​S. corporate cash from 1980 to 2004 (​from 10.​5 to 24% of assets), is due to increased risk overall and not to foreign income or large cash hordes like Microsoft and Exxon Mobil'​s.

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