Reinhart, Carmen and Goldstein, Morris and Kaminsky, Graciela (2000): Rating the Rating Agencies. Published in: Assessing Financial Vulnerability: An Early Warning System for Emerging Markets , Institute for International Economics (2000)
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In this study, we begin by assessing the ability of sovereign credit ratings to anticipate crises. In addition, given the wave of sovereign credit ratings downgrades that have followed the crises in Asia, we investigate formally the extent to which credit ratings are reactive. Along the way, we discuss a small but growing literature that examines to what extent financial markets anticipate crises.
|Item Type:||MPRA Paper|
|Original Title:||Rating the Rating Agencies|
|Keywords:||credit ratings, default, crisis, downgrades, prediction, banks, currency|
|Subjects:||F - International Economics > F4 - Macroeconomic Aspects of International Trade and Finance
F - International Economics > F3 - International Finance > F34 - International Lending and Debt Problems
F - International Economics > F3 - International Finance > F32 - Current Account Adjustment; Short-Term Capital Movements
F - International Economics > F3 - International Finance
F - International Economics > F3 - International Finance > F31 - Foreign Exchange
F - International Economics > F3 - International Finance > F36 - Financial Aspects of Economic Integration
|Depositing User:||Carmen Reinhart|
|Date Deposited:||23. Aug 2010 02:21|
|Last Modified:||13. Feb 2013 09:12|
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