Testing, disclosure and approval
(2020)
Journal Article
All Outputs (2)
Credit Rating and Debt Crises (2018)
Journal Article
We develop an equilibrium theory of credit rating in the presence of rollover risk. By influencing rational creditors, ratings affect sovereigns' probability of default, which in turn affects ratings. Our analysis reveals a pro-cyclical impact of cre... Read More about Credit Rating and Debt Crises.