NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
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Recovering Investor Expectations from Demand for Index Funds

Mark L. Egan, Alexander MacKay, Hanbin Yang

NBER Working Paper No. 26608
Issued in January 2020, Revised in May 2020

---- Acknowledgments ----

We thank John Campbell, Robin Greenwood, Sam Hanson, Ian Martin, Jesse Shapiro, Andrei Shleifer, Adi Sunderam and the seminar participants at Harvard Business School, the University of Chicago Booth Household Finance Conference, and the University of Washington. We also thank John Graham and Campbell Harvey for providing the Duke CFO Global Business Outlook Survey data. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

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