kaal:claim:1806252-015

An institution or a country creates externalities when it manages its own hedge fund generated systemic risk without considering how its actions or inactions affect risk in the system as a whole.

An institution or country creates externalities if it manages its own hedge fund-generated systemic risk without considering the impact of its actions or inactions on the risk in the system as a whole.

Kaal, Hedge Fund Regulation Via Basel III (2011), V.2 Systemic Risk and Externalities, p. 64
https://ssrn.com/abstract=1806252 · source PDF

Kaal, Hedge Fund Regulation Via Basel III (2011). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1806252

definitionalsupport: assertedsystemic-riskrisk-and-incentivesinstitutional-design

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