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Feedback effects between credit ratings and financial markets

Author

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  • Jorge, José

Abstract

Credit rating agencies often make sharp adjustments in their pronouncements during times of stress in financial markets. These adjustments typically happen with a delay relative to shocks in market prices. Since prices convey information about what market participants are doing and thinking, it is likely that rating agencies take into account market prices when issuing their pronouncements.

Suggested Citation

  • Jorge, José, 2019. "Feedback effects between credit ratings and financial markets," Economic Modelling, Elsevier, vol. 80(C), pages 328-338.
    • Handle: RePEc:eee:ecmode:v:80:y:2019:i:c:p:328-338
    DOI: 10.1016/j.econmod.2018.11.019
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    Cited by:

    1. Kamran Ahmed Siddiqui & Ishtiaq Ahmed Bajwa & Faisal Al-Hudithi & Tarig Eltayeb & Asma Khatoon & Suliman Bawardi, 2021. "Entrepreneurs' opinion towards credit rating in Saudi Arabia," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 9(2), pages 186-197, December.

    More about this item

    Keywords

    Credit ratings; Roll-over risk; Creditor coordination;
    All these keywords.

    JEL classification:

    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage

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