This paper aims at analysing the mortality patterns of hedge funds over the period January 1994 to May 2008. In particular, we investigate the extent to which a spillover of risk among hedge funds through redemptions and failures of other funds has affected the probability of fund failure. We...

We measure the commonality in hedge fund returns, identify its main driving factor and analyse its implications for financial stability. We find that hedge funds’ commonality increased significantly from 2003 until 2006. We attribute this rise mainly to the increase in hedge funds’ exposure...

Die deutsche Wirtschaft befindet sich derzeit mitten in einem konjunkturellen Aufschwung, der aber - wie das MEMORANDUM 2007 zeigt - keinesfalls als Beginn einer längeren Wachstumsphase interpretiert werden darf. Die jüngste Belebung ist ein ganz normales konjunkturelles Phänomen und wenn der...