NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
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Exchange Traded Funds 101 For Economists

Martin Lettau, Ananth Madhavan

NBER Working Paper No. 24250
Issued in January 2018

---- Acknowledgments ----

Martin Lettau is the Kruttschnitt Family Chair in Financial Institutions, Haas School of Business, University of California at Berkeley, Berkeley, California. He is a Research Associate at the National Bureau of Economic Research, Cambridge, Massachusetts and a Research Fellow at the Centre for Economic Policy Research, London, United Kingdom. Ananth Madhavan is Managing Director, Global Head of ETF and Index Investing Research, BlackRock, Inc., San Francisco, California. The views expressed here are those of the authors alone and do not necessarily represent the views of BlackRock, Inc nor of the National Bureau of Economic Research. BlackRock the largest worldwide provider of ETFs.

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