Does the credit rating downgrade threaten Croatia?
نویسندگان
چکیده
منابع مشابه
Predicting Credit Rating and Credit Rating Changes: A New Approach
In this paper, we propose a hazard rate model for studying credit rating and credit rating changes. Theoretically the hazard rate model is more appropriate than the previous static models. Yet it is difficult to estimate hazard rate model, especially when the covariates are time-varying. This paper extends the results of Shumway(2001) and shows that a multiple-state hazard rate model can be est...
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By December 2008, structured finance securities accounted for over $11 trillion worth of outstanding U.S. bond market debt (35%). The lion’s share of these securities was highly rated by rating agencies. More than half of the structured finance securities rated by Moody’s carried a AAA rating—the highest possible credit rating. In 2007 and 2008, the creditworthiness of structured finance securi...
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In this paper I test the quality of S&P corporate bonds’ ratings over the years 1983-1993. Using sample data of 2452 bonds from which 232 defaulted till year 2000, I show that narrowness of rating categories was not fully informative and that ratings were not consisted over industries and countries of incoporation. The results also reveal that S&P ratings as outlined in S&P methodology were not...
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Credit rating agencies (CRAs) very often have been criticized for announcing inaccurate credit ratings and are suspected of being exposed to conicts of interest. Despite these objections CRAs remained largely unregulated. Based on Pagano & Immordino (2007), we study the optimal regulation of CRAs in a model where rating quality is unobservable and enforcing regulation is costly. The model show...
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ژورنال
عنوان ژورنال: Press Releases
سال: 2013
ISSN: 1848-4123
DOI: 10.3326/pr.2013.56