Note: I would like to thank an anonymous referee, Bart van Ark, Edward Wolff, Jennifer Afflerbach, Nathan Balke, Ricardo Llaudes, Leonard Nakamura, David Simon, and Alan Viard for making helpful suggestions. The paper also benefited from what I have learned about mutual funds from Sean Collins, Sarah Holden, John Rea, and Brian Reid. I thank Jamie Lee, Ricardo Llaudes, and Dan Wolk for providing excellent research assistance. I especially thank the Investment Company Institute for providing some of the data used and numerous people at various mutual funds who provided historical data on the equity funds in my sample. The views expressed are those of the author and do not necessarily reflect those of the Federal Reserve Bank of Dallas or the Federal Reserve System. Any remaining errors are my own.
WHY HAVE U.S. HOUSEHOLDS INCREASINGLY RELIED ON MUTUAL FUNDS TO OWN EQUITY?†
Version of Record online: 8 SEP 2005
Review of Income and Wealth
Volume 51, Issue 3, pages 375–396, September 2005
How to Cite
Duca, J. V. (2005), WHY HAVE U.S. HOUSEHOLDS INCREASINGLY RELIED ON MUTUAL FUNDS TO OWN EQUITY?. Review of Income and Wealth, 51: 375–396. doi: 10.1111/j.1475-4991.2005.00159.x
- Issue online: 8 SEP 2005
- Version of Record online: 8 SEP 2005
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