# kaal:claim:2748096-014

**Claim.** Hedge fund losses large enough to affect the overall economy did not appear until after the crisis and recession had already been triggered by the mortgage market collapse and sustained stock market losses, which places hedge funds downstream of the crisis rather than at its origin.

**Type.** empirical  **Support.** evidenced

**Holds when.**

- financial crisis of 2007-2008

**Source quote.**

> evidence also exists that hedge fund losses that could have affected the overall economy did not occur until the financial crisis and the recession had been triggered by the mortgage market collapse and sustained stock market losses

**From.** Wulf A. Kaal, Timothy A. Krause, *Hedge Funds and Systemic Risk* (2016), Hedge Funds' Contributions to the Financial Crisis of 2007-2008, page 6

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

**Verify.** sha256 of source PDF `8f30260f2c1db728b45c4f3b9b7c64358cf9d3217277bc3c63a910c32f87b508` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20and%20Krause%20-%202016%20-%20Hedge%20Funds%20and%20Systemic%20Risk.pdf

**Topics.** private-funds, economics, empirical-evidence

**Keywords.** crisis-causation, hedge-funds, mortgage-market, timing-evidence

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