{
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 "@type": "DefinedTerm",
 "@id": "https://wulfkaal.github.io/entities/systemic-risk-measurement",
 "identifier": "kaal:entity:systemic-risk-measurement",
 "name": "Systemic risk measurement",
 "termCode": "systemic-risk-measurement",
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 "author": {
  "@type": "Person",
  "name": "Wulf A. Kaal",
  "identifier": "https://orcid.org/0000-0003-0757-275X"
 },
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   "value": [
    "2013",
    "2017"
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 "subjectOf": [
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/2348463-022",
   "identifier": "kaal:claim:2348463-022",
   "text": "Form PF disclosures have not been standardized, and anecdotal evidence indicates that the SEC and the FSOC may be working with contradictory, misleading, inaccurate, and incomplete systemic risk data.",
   "abstract": "Form PF disclosures have not yet been standardized, and anecdotal evidence suggests that the SEC and the FSOC could be working with contradictory, misleading, inaccurate, and incomplete systemic risk data in Form PF.",
   "citation": "Wulf A. Kaal, Hedge Funds’ Systemic Risk Disclosures in Bankruptcy (2013). SSRN: https://ssrn.com/abstract=2348463",
   "datePublished": "2013",
   "claim_type": "failure",
   "confidence": "evidenced",
   "is_failure_mode": true,
   "scope_conditions": [
    "Form PF filings made under the initial implementation stages"
   ],
   "source_pdf_sha256": "b3682f24c0b277b3307fb9f54cd17a4e0a87b48eecba34b40e189212f20c9a22",
   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/2748096-010",
   "identifier": "kaal:claim:2748096-010",
   "text": "Any conclusion that hedge funds contributed to the financial crisis of 2007-2008 is circumstantial or anecdotal, because the data needed to test it, on leverage, counterparty relations, AUM, and portfolio holdings, were not collected for any substantial period before the crisis.",
   "abstract": "Without such data for a substantial time period before the financial crisis, concluding that hedge funds may have had a role in the financial crisis is circumstantial or anecdotal.",
   "citation": "Wulf A. Kaal, Timothy A. Krause, Hedge Funds and Systemic Risk (2016). SSRN: https://ssrn.com/abstract=2748096",
   "datePublished": "2016",
   "claim_type": "failure",
   "confidence": "argued",
   "is_failure_mode": true,
   "scope_conditions": [
    "applies to retrospective assessment of the 2007-2008 crisis",
    "SEC systemic risk data collection began only after Title IV of the Dodd-Frank Act"
   ],
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   "status": "current"
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  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/2748096-037",
   "identifier": "kaal:claim:2748096-037",
   "text": "Systemic risk rankings that place a loosely defined other financial services sector above banking and insurance are of limited use, because the analysis does not clearly identify the firms included in that category even though a substantial portion of them may be hedge funds.",
   "abstract": "Their analysis, however, does not clearly identify firms included in this \"other\" financial services sector even though a substantial portion of these entities may be hedge funds.",
   "citation": "Wulf A. Kaal, Timothy A. Krause, Hedge Funds and Systemic Risk (2016). SSRN: https://ssrn.com/abstract=2748096",
   "datePublished": "2016",
   "claim_type": "failure",
   "confidence": "argued",
   "is_failure_mode": true,
   "scope_conditions": [
    "applies to CoVaR based sector rankings of systemic risk contribution"
   ],
   "source_pdf_sha256": "8f30260f2c1db728b45c4f3b9b7c64358cf9d3217277bc3c63a910c32f87b508",
   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/2998097-014",
   "identifier": "kaal:claim:2998097-014",
   "text": "Because advisers and third party service providers can flatten out and sanitize the information disclosed in Forms ADV and PF, the resulting disclosures may be less useful to the FSOC and the SEC in determining the systemic risk posed by private funds.",
   "abstract": "Although the level of sanitizing of disclosures could not be verified, sanitized disclosures could be less useful for Financial Stability Oversight Council (FSOC) and SEC evaluation and their determination of the systemic risk posed by private funds.84",
   "citation": "Wulf A. Kaal, Private Investment Fund Regulation - Theory and Empirical Evidence from 1998 to 2016 (2017). SSRN: https://ssrn.com/abstract=2998097",
   "datePublished": "2017",
   "claim_type": "failure",
   "confidence": "argued",
   "is_failure_mode": true,
   "scope_conditions": [
    "Forms ADV and PF disclosures",
    "level of sanitizing could not be verified in the study"
   ],
   "source_pdf_sha256": "0955054f49c7011d33c285579bb046e6b284e42755b10fd2546a728c202669d5",
   "status": "current"
  }
 ],
 "description": "4 claims in the published works of Wulf A. Kaal carry the concept tag 'systemic-risk-measurement'. Derived node: a roster, not an adjudicated definition."
}