This paper investigates whether there is any consistency between banks’ financial strength ratings (bank rating) and … they assume and thereby have a low probability of experiencing financial distress. Bank ratings, a measure of a bank …’s intrinsic safety and soundness, should therefore be able to capture the bank’s ability to manage financial distress while …

Examining the cases of Canada, Germany, and Spain, the role played by fiscal equalization schemes in determining …

countries. France, Germany, and Italy have large pay-as-you-go pension systems and vulnerable labor markets. At the same time …