This paper investigates the link between sovereign ratings and macroeconomic fundamentals for a group of euro area … countries which recorded rating downgrades amid the euro area sovereign debt crisis. We apply an elaborated econometric … estimation technique, based on a Bayesian ordered probit model, to understand how the decisions of rating agencies can be …

In the current debate on the reasons and implications of the Greek and Irish euro crisis, the intra-European current … imbalances since the euro introduction and thereby the current European debt crisis. Based on this finding we argue that an … imbalances ; inter-temporal savings ; financial crisis ; euro crisis ; European debt crisis ; theory of optimum currency areas …

This paper investigates the link between sovereign ratings and macroeconomic fundamentals for a group of euro area … countries which recorded rating downgrades amid the euro area sovereign debt crisis. We apply an elaborated econometric … estimation technique, based on a Bayesian ordered probit model, to understand how the decisions of rating agencies can be …