Research Catalog

Hedge funds and systemic risk

Title: Hedge funds and systemic risk / Lloyd Dixon, Noreen Clancy, Krishna B. Kumar.
Author: Dixon, Lloyd S.
Publication: Santa Monica, Calif. : RAND Corporation, 2012.

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Request for On-site Use Request Scan Available - Can be used on site. Please visit New York Public Library - Schwarzman Building to submit a request in person.	Text	Use in library	JBD 18-229	Schwarzman Building - General Research Room 315

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Additional Authors

Description

xxx, 115 p. : col. ill.; 23 cm.

Summary

Hedge funds are a dynamic part of the global financial system. Their managers engage in innovative investment strategies that can improve the performance of financial markets and facilitate the flow of capital from savers to users. Although hedge funds play a useful role in the financial system, there is concern that they can contribute to financial instability. The collapse of Long-Term Capital Management (LTCM) in 1998 raised awareness that hedge funds could be a source of risk to the entire financial system. Hedge funds also invested heavily in many of the financial instruments at the heart of the financial crisis of 2007–2008, and it is appropriate to ask whether they contributed to the crisis. This report explores the extent to which hedge funds create or contribute to systemic risk (that is, the risk of a major and rapid disruption in one or more of the core functions of the financial system caused by the initial failure of one or more financial firms or a segment of the financial system) and the role hedge funds played in the financial crisis, the consequences of the 1998 failure of LTCM, and whether and how the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 addresses the potential systemic risks posed by hedge funds.

Series Statement

Rand Corporation monograph series

Uniform Title

Rand Corporation monograph series.

Subject

Hedge funds > United States

Note

"MG-1236-CCEG"--P. 4 of cover.

Bibliography (note)

Includes bibliographical references (p. 107-115).

Contents

Background on the hedge fund industry -- The collapse of long-term capital management -- Hedge funds and the financial crisis of 2007-2008 -- Potential hedge fund threats to financial stability and reforms to address them -- Appendix: Regulatory reforms that address potential systemic risks posed by hedge funds.

Call Number

JBD 18-229

ISBN

9780833076847 (pbk.)
0833076841 (pbk.)

LCCN

2012948078

OCLC

809834660

Author

Dixon, Lloyd S.

Title

Hedge funds and systemic risk / Lloyd Dixon, Noreen Clancy, Krishna B. Kumar.

Imprint

Santa Monica, Calif. : RAND Corporation, 2012.

Series

Rand Corporation monograph series

Rand Corporation monograph series.

Bibliography

Includes bibliographical references (p. 107-115).

Added Author

Clancy, Noreen.

Kumar, Krishna B.

Rand Corporation.

Research Call Number

JBD 18-229

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