TY  - UNPD
A1  - Gropp, Reint
T1  - How important are hedge funds in a crisis?
T2  - SAFE policy letter series ; 23
N2  - Before the 2007–09 crisis, standard risk measurement methods substantially underestimated the threat to the financial system. One reason was that these methods didn’t account for how closely commercial banks, investment banks, hedge funds, and insurance companies were linked. As financial conditions worsened in one type of institution, the effects spread to others. A new method that more accurately accounts for these spillover effects suggests that hedge funds may have been central in generating systemic risk during the crisis.
T3  - SAFE policy letter - 23 
KW  - systemic risk analysis
KW  - statistical risk measurement
KW  - spillover effects
Y1  - 2014
UR  - http://publikationen.ub.uni-frankfurt.de/frontdoor/index/index/docId/33640
UR  - https://nbn-resolving.org/urn:nbn:de:hebis:30:3-336408
N1  - This article is reprinted from the Federal Reserve Bank of San Francisco Economic Letter of April 14, 2014.
EP  - 6
PB  - SAFE
CY  - Frankfurt am Main
ER  -