Körner, Finn Marten; Trautwein, Hans-Michael - In: Economics: The Open-Access, Open-Assessment E-Journal 9 (2015) 2015-9, pp. 1-54
It is a matter of debate in how far credit ratings contribute to allocative efficiency or to excessive volatility of asset prices and cross-border capital flows. Yet it is generally taken for granted that ratings play a significant role in the transnationalization of financial relations. This...
