Finance Seminar - Martin Schmalz (Imperial College)
19 October 2022, 4:00 pm–5:15 pm
Martin Schmalz (Imperial College) will present 'Index Funds, Asset Prices and the Welfare of Investors and Consumers' at this Finance Seminar.
Event Information
Open to
- All
Organiser
-
Ming Yang
Abstract: We propose a notion of stock market equilibrium that allows for strategically acting firms. We apply the abstract model to a setting in which heterogeneous investors choose between bonds, individual stocks, and a diversified index fund, and derive implications for asset prices. A reduction in the cost of indexing can increase asset prices and have welfare effects with opposite signs on different subsets of the investor distribution.
Note: Both the seminar and meetings will be in hybrid format.
Zoom Meeting ID: 736 487 3755
Passcode: CFF
Link: https://ucl.zoom.us/j/7364873755?pwd=QzNUeUpnNit2U2JMZnpZbmZwV2pZdz09
You can sign up for an appointment with the speaker on the wiki page or via email: https://wiki.ucl.ac.uk/pages/viewpage.action?pageId=227181875 The paper is not available now.