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Feeling the heat : climate shocks and credit ratings

Cevik, Serhan; Jalles, João Tovar - 2020

Climate change is an existential threat to the world economy like no other, with complex, evolving and nonlinear dynamics that remain a source of great uncertainty. There is a bourgeoning literature on the economic impact of climate change, but research on how climate change affects sovereign...

Persistent link: https://www.econbiz.de/10012486104

The Systemic Regulation of Credit Rating Agencies and Rated Markets

Sy, Amadou N. R. - 2009

Credit ratings have contributed to the current financial crisis. Proposals to regulate credit rating agencies focus on micro-prudential issues and aim at reducing conflicts of interest and increasing transparency and competition. In contrast, this paper argues that macro-prudential regulation is...

Persistent link: https://www.econbiz.de/10014403058

A Theory of International Crisis Lending and IMF Conditionality

Zettelmeyer, Jeromin - 2008

We present a framework that clarifies the financial role of the IMF, the rationale for conditionality, and the conditions under which IMF-induced moral hazard can arise. In the model, traditional conditionality commits country authorities to undertake crisis resolution efforts, facilitating the...

Persistent link: https://www.econbiz.de/10014401468

Sovereign Credit Ratings Methodology : An Evaluation

Bhatia, Ashok Vir - 2002

This paper describes and evaluates the sovereign credit ratings methodologies of Standard & Poor''s, Moody''s Investors Service, and Fitch Ratings. A simple definition of ratings failure-based on ratings stability-is proposed and tested, pointing to falling failure rates, consistent upside bias,...

Persistent link: https://www.econbiz.de/10014399558

Using Credit Ratings for Capital Requirementson Lending to Emerging Market Economies : Possible Impact of a New Basel Accord

Mulder, Christian B. - 2000

The Basel Committee on Banking Supervision has proposed linking capital requirements for bank loans to ratings by …

Persistent link: https://www.econbiz.de/10014399839

Credit reversals

Vázquez, Francisco - 2021

This paper studies episodes in which aggregate bank credit contracts alongside expanding economic activity …

Persistent link: https://www.econbiz.de/10012604801

Crossing the credit channel : credit spreads and firm heterogeneity

Anderson, Gareth; Cesa-Bianchi, Ambrogio - 2020

Credit spreads rise after a monetary policy tightening, yet spread reactions are heterogeneous across firms. Exploiting information from a panel of corporate bonds matched with balance sheet data for U.S. non-financial firms, we document that firms with high leverage experience a more pronounced...

Persistent link: https://www.econbiz.de/10012485947

The riskiness of credit allocation and financial stability

Brandao Marques, Luis; Chen, Qianying; Raddatz, Claudio E. - 2019

We explore empirically how the time-varying allocation of credit across firms with heterogeneous credit quality matters for financial stability outcomes. Using firm-level data for 55 countries over 1991-2016, we show that the riskiness of credit allocation, captured by Greenwood and Hanson...

Persistent link: https://www.econbiz.de/10012103777

Bank Credit During the 2008 Financial Crisis : A Cross-Country Comparison

Aisen, Ari - 2010

This paper empirically estimates the main determinants of bank credit growth during the 2008 financial crisis. Using a … sample covering over 80 countries, this paper finds that larger bank credit booms prior to the crisis and lower GDP growth of … trading partners are among the most important determinants of the post-crisis bank credit slowdown. Structural variables such …

Persistent link: https://www.econbiz.de/10014404304

Collateral in Loan Classification and Provisioning

Song, Inwon - 2002

a bank. Failure to identify deterioration in credit quality in a timely manner can aggravate and prolong the problem …

Persistent link: https://www.econbiz.de/10014399648

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