| 来源类型 | FEEM working papers "Note di lavoro" series |
| 规范类型 | 论文 |
| Overdependence on Credit Ratings Was a Primary Cause of the Crisis | |
| Frank Partnoy | |
| 发表日期 | 2009 |
| 出处 | Economy and Society |
| 出版年 | 2009 |
| 语种 | 英语 |
| 摘要 | The first part of the paper describes how over time credit rating agencies ceased to play the role of information intermediaries. Rating agencies did not provide information about the risk associated with the securitized instruments, but they simply enabled structurers to create and maintain tranches of these instruments with unjustifiably high credit ratings. The second part of the paper suggests how future policy may minimize overdependence on credit ratings, by removing regulatory licences and by implementing shock-therapy mechanisms to wean investors simple rating mnemonics. |
| 特色分类 | G24 |
| 关键词 | Rating Agencies,Subprime Mortgages,Securitization |
| URL | https://www.feem.it/en/publications/feem-working-papers-note-di-lavoro-series/overdependence-on-credit-ratings-was-a-primary-cause-of-the-crisis/ |
| 来源智库 | Fondazione Eni Enrico Mattei (Italy) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/117705 |
| 推荐引用方式 GB/T 7714 | Frank Partnoy. Overdependence on Credit Ratings Was a Primary Cause of the Crisis. 2009. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| NDL2009-027.pdf（365KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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