University of St.Gallen
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The role of rating agencies in the Eurozone sovereign debt crisis

versione breve The project attempts to provide an empirical understanding of the role of rating agencies in sovereign debt crises in general, and in the Eurozone's sovereign debt crisis in particular. It looks both at what determines sovereign bond ratings, and at the effects of rating changes. From a macroeconomic perspective we try to find out whether Europe faced a scenario of multiple equilibria and self-fulfilling prophecy, and how rating agencies affected the dynamics within such a system.
   
parole chiave rating agencies, sovereign debt, crisis, multiple equilibria, self-fulfilling prophecy, interest rates, spreads, budget deficit
   
partner
tipo progetto di ricerca applicata
status corrente
inizio progetto 2010
fine progetto 2014
informations additionelles
argomenti rating agencies, models of sovereign debt crises
metodi theoretical analysis, statistical and narrative empirics
contatto Manfred Gärtner