kaal:claim:2748096-002

Despite conflicting government reports, the weight of post-crisis evidence from leading financial economists supports the conclusion that hedge funds introduce at least some systemic risk into the financial system.

Despite the mixed evidence produced by government reports on hedge funds' systemic risk, the majority of post-crisis evidence provided by leading financial economists suggests that hedge funds may play a role in introducing at least some systemic risk into the financial system.

Wulf A. Kaal, Timothy A. Krause, Hedge Funds and Systemic Risk (2016), INTRODUCTION, p. 2
https://ssrn.com/abstract=2748096 · source PDF

Wulf A. Kaal, Timothy A. Krause, Hedge Funds and Systemic Risk (2016). SSRN: https://ssrn.com/abstract=2748096

• post-crisis academic literature
• claim is qualified: some, not dominant, systemic risk

empiricalsupport: arguedprivate-fundssystemic-riskrisk-and-incentivesempirical-evidenceeconomics

• extends kaal:claim:2470008-012 National regulators reached opposite conclusions on the same question: unlike the OFR, FSB and IOSCO, the Unit...
• supports kaal:claim:2470008-005 The systemic risk of hedge funds arises principally from the combination of aggressive investment strategies a...
• supports kaal:claim:2470008-006 Hedge funds threaten the financial system through two distinct channels: directly, by damaging systemically im...

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