FINANCIAL STABILITY OVERSIGHT COUNCIL PROPOSED RECOMMENDATIONS REGARDING MONEY MARKET MUTUAL FUND REFORM
FINANCIAL STABILITY OVERSIGHT COUNCIL PROPOSED RECOMMENDATIONS REGARDING MONEY MARKET MUTUAL FUND REFORM
The remainder of the paper is as follows. The next section defines the standard approach and the notion of luck. Then, we define the F DR and explain our new methodology which allows us to compute the F DR among the best and worst funds separately. Section 3 presents the performance measures, the estimation technique to compute the p-values as well as the mutual fund data. Section 4 contains the empirical analysis of the impact of luck on performance across the four investment categories. Sectio