{
 "@context": "https://schema.org",
 "@type": "Claim",
 "@id": "https://wulfkaal.github.io/claims/2714974-028",
 "identifier": "kaal:claim:2714974-028",
 "text": "Direct regulation of hedge fund leverage increases moral hazard costs, because lenders and counterparties relax their own vigilance once they rely on government rules to constrain fund risk taking.",
 "author": {
  "@type": "Person",
  "name": "Wulf A. Kaal",
  "identifier": "https://orcid.org/0000-0003-0757-275X"
 },
 "citation": "Kaal and Oesterle, The History of Hedge Fund Regulation in the United States (2016). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2714974",
 "isBasedOn": {
  "@type": "ScholarlyArticle",
  "name": "The History of Hedge Fund Regulation in the United States",
  "datePublished": "2016",
  "url": "https://ssrn.com/abstract=2714974",
  "sha256": "7764601d3ed5bb056b58949e8411eff9dfb9855f143719062030c980c5fa801b",
  "encoding": "https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20and%20Oesterle%20-%202016%20-%20The%20History%20of%20Hedge%20Fund%20Regulation%20in%20the%20United%20States.pdf"
 },
 "keywords": [
  "risk-and-incentives",
  "economics",
  "compliance"
 ],
 "about": [
  "moral-hazard",
  "leverage",
  "market-discipline",
  "counterparty-monitoring"
 ],
 "abstract": "Direct regulation could also increase moral hazard costs as lenders and counterparties may relax their vigilance in reliance on the government rules.",
 "additionalProperty": [
  {
   "@type": "PropertyValue",
   "name": "claim_type",
   "value": "failure"
  },
  {
   "@type": "PropertyValue",
   "name": "confidence",
   "value": "argued"
  },
  {
   "@type": "PropertyValue",
   "name": "scope_conditions",
   "value": [
    "applies where government rules substitute for private monitoring"
   ]
  },
  {
   "@type": "PropertyValue",
   "name": "is_failure_mode",
   "value": true
  },
  {
   "@type": "PropertyValue",
   "name": "attestations",
   "value": "https://wulfkaal.github.io/colloquium/attestations/f3a0a4cd699fb7cd83ad4871d46cfb063bac53c5bd6c49c325ac098a5e2e5eb8.json"
  },
  {
   "@type": "PropertyValue",
   "name": "edges",
   "value": [
    {
     "rel": "extends",
     "to": "https://wulfkaal.github.io/claims/1806252-013",
     "to_id": "kaal:claim:1806252-013",
     "similarity": 0.331
    }
   ]
  }
 ],
 "isPartOf": {
  "@id": "https://wulfkaal.github.io/claims/index.json"
 },
 "dateModified": "2026-07-27",
 "version": "1.0",
 "sha256": "f3a0a4cd699fb7cd83ad4871d46cfb063bac53c5bd6c49c325ac098a5e2e5eb8",
 "canonicalForm": "https://wulfkaal.github.io/claims/2714974-028.md"
}