Mutual funds and the U.S. equity market

Eric M. Engen and Andreas Lehnert ()
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Eric M. Engen: https://www.federalreserve.gov/econres/eric-m-engen.htm

Federal Reserve Bulletin, 2000, vol. 86, issue Dec, 797-812

Abstract: Mutual funds have become an important intermediary between households and financial markets, especially the equity market. About half of all households have a mutual fund account, and mutual funds hold about one-fifth of household financial assets. Because households have favored equity investments in their mutual fund accounts, mutual funds currently hold about one-fifth of all publicly traded U.S. equities. In addition to discussing the recent growth of mutual funds and their role in household finances, this article analyzes the relationship between households' investment decisions in equity mutual funds and equity market prices.

Keywords: Mutual funds; Capital market; Stock market (search for similar items in EconPapers)
JEL-codes: G12 G23 (search for similar items in EconPapers)
Date: 2000
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Persistent link: https://EconPapers.repec.org/RePEc:fip:fedgrb:y:2000:i:dec:p:797-812:n:v.86no.12

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DOI: 10.17016/bulletin.2000.86-12

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