Sovereign credit ratings in the European Union: A model-based fiscal analysis
作者： Vito Polito , Michael Wickens
DOI: 10.1016/J.EUROECOREV.2015.05.009
关键词:
摘要: Abstract We present a model-based measure of sovereign credit ratings derived solely from the fiscal position country: forecast its future debt liabilities, and potential to use policy repay these. this calculate for 14 European countries over period 1995–2012. This identifies crisis almost two years before official rating agencies.
bath.ac.uk
elsevier.com
cesifo-group.de 参考文章(43)
Mathias Trabandt, Harald Uhlig, The Laffer curve revisited Journal of Monetary Economics. ,vol. 58, pp. 305- 327 ,(2011) , 10.1016/J.JMONECO.2011.07.003
Troy Davig, Eric M. Leeper, Todd B. Walker, INFLATION AND THE FISCAL LIMIT European Economic Review. ,vol. 55, pp. 31- 47 ,(2011) , 10.1016/J.EUROECOREV.2010.11.005
Michael Wickens, How Useful are DSGE Macroeconomic Models for Forecasting Open Economies Review. ,vol. 25, pp. 171- 193 ,(2014) , 10.1007/S11079-013-9304-6
Paula Hill, Robert Brooks, Robert Faff, Variations in sovereign credit quality assessments across rating agencies Journal of Banking & Finance. ,vol. 34, pp. 1327- 1343 ,(2010) , 10.1016/J.JBANKFIN.2009.11.028
Robert E. Cumby, Matthew B. Canzoneri, Behzad T. Diba, Should the European Central Bank and the Federal Reserve Be Concerned About Fiscal Policy Proceedings - Economic Policy Symposium - Jackson Hole. pp. 333- 389 ,(2002)
Lawrence J White, Markets: The Credit Rating Agencies Journal of Economic Perspectives. ,vol. 24, pp. 211- 226 ,(2010) , 10.1257/JEP.24.2.211
George Kapetanios, Haroon Mumtaz, Ibrahim Stevens, Konstantinos Theodoridis, Assessing the Economy-Wide Effects of Quantitative Easing Social Science Research Network. ,(2012) , 10.2139/SSRN.1992952
Jeffrey D. Sachs, Jeffrey D. Sachs, Theoretical issues in international borrowing ,(1984)
Troy Davig, Eric M. Leeper, Todd B. Walker, “Unfunded liabilities” and uncertain fiscal financing Journal of Monetary Economics. ,vol. 57, pp. 600- 619 ,(2010) , 10.1016/J.JMONECO.2010.05.007
David M. Shahian, Matthew M. Hutter, Peter J. Pronovost, Mark W. Friedberg, Sharon-Lise T. Normand, Rating the Raters Wolters Kluwer Health, Inc. ,(2016)