What Is the Value of Sovereign Ratings?. Issue 1 (27th June 2013)

• Record Type: Journal Article
• Authors: Gaillard, Norbert
• Is Part Of: German economic review. Volume 15:Issue 1(2014:Feb.)
• Page Start: 208
• Page End: 224
• Publication Date: 2013-06-27
• Subjects: Economics -- Periodicals; 330
• DOI: 10.1111/geer.12018
• Languages: English
• ISSNs: 1465-6485

Abstract

<abstract abstract-type="main" id="geer12018-abs-0001"> <title>Abstract</title> <p>This article gives a fresh analysis of sovereign ratings, including the recent default of Greece. Section 1 studies the evolution of the sovereign rating business, and Section 2 explains how credit ratings are assigned. Section 3 focuses on sovereign rating methodologies and identifies the key determinants of sovereign ratings. Section 4 measures the accuracy of these ratings between 1 January 2001 and 1 January 2013. Section 5 compares credit ratings to market‐based indicators, and Section 6 concludes.</p> </abstract>