Restoring the Role of Credit Rating Agencies as Gatekeepers
Credit rating agencies(CRAs) are accused of failing to provide accurate and fair credit ratings and hence being responsible for the crisis. This paper tries to add on to the literature on credit rating reform through examining the CRAs in a model where rating quality is unobservable. We show that un...
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| Format: | Article |
| Language: | English |
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Korea Development Institute
2011-06-01
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| Series: | KDI Journal of Economic Policy |
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| Online Access: | https://doi.org/10.23895/kdijep.2011.33.2.81 |