• Refine Query
  • Source
  • Publication year
  • to
  • Language
  • 1
  • Tagged with
  • 1
  • 1
  • 1
  • 1
  • 1
  • 1
  • 1
  • 1
  • 1
  • 1
  • 1
  • 1
  • 1
  • 1
  • 1
  • About
  • The Global ETD Search service is a free service for researchers to find electronic theses and dissertations. This service is provided by the Networked Digital Library of Theses and Dissertations.
    Our metadata is collected from universities around the world. If you manage a university/consortium/country archive and want to be added, details can be found on the NDLTD website.
1

Credit ratings and government bonds: evidence before, during and after the european debt crisis

Coelho, Miguel de Campos Pinto 18 January 2016 (has links)
Submitted by Miguel de Campos Pinto Coelho (miguelpintocoelho@gmail.com) on 2016-03-01T02:08:17Z No. of bitstreams: 1 2015-16_S2-932304-Miguel_Pinto_Coelho.pdf: 1544988 bytes, checksum: 0410eb0c13fc1b0030abc341426188b1 (MD5) / Approved for entry into archive by Ana Luiza Holme (ana.holme@fgv.br) on 2016-03-01T12:28:51Z (GMT) No. of bitstreams: 1 2015-16_S2-932304-Miguel_Pinto_Coelho.pdf: 1544988 bytes, checksum: 0410eb0c13fc1b0030abc341426188b1 (MD5) / Made available in DSpace on 2016-03-01T13:13:25Z (GMT). No. of bitstreams: 1 2015-16_S2-932304-Miguel_Pinto_Coelho.pdf: 1544988 bytes, checksum: 0410eb0c13fc1b0030abc341426188b1 (MD5) Previous issue date: 2016-01-18 / This project investigates if there was any influence of credit rating agencies and long-term government bond yields on each other before, during and after Europe’s sovereign debt crisis. This is addressed by estimating the relationship and causality between sovereign debt ratings or bond yields and macroeconomic and structural variables following a different procedure to explain ratings and bond yields. It is found evidence that, in distressed periods, ratings and yields do affect one another. This suggests that a rating downgrade might create a self-fulfilling prophecy, leading relatively stable countries to default. / Neste projeto, investigamos se as agências de rating e as taxas de juro de longo prazo da dívida soberana tiveram uma influência recíproca antes, durante e após a crise da dívida soberana Europeia. Esta análise é realizada, estimando a relação existente entre os ratings da dívida soberana ou taxas de juro e factores macroeconomicos e estruturais, através de uma diferente aplicação de metodologias utilizadas para este efeito. Os resultados obtidos demonstram que, no período da crise soberana, os ratings e as taxas de juros tiveram um mútuo impacto, sugerindo que as descidas dos ratings podem ter conduzido a profecias auto-realizáveis, levando países relativamente estáveis a um eventual incumprimento

Page generated in 0.0622 seconds