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来源类型 | Discussion paper |
规范类型 | 论文 |
来源ID | DP7354 |
DP7354 Cross-Country Causes and Consequences of the 2008 Crisis: Early Warning | |
Andrew Rose; Mark Spiegel | |
发表日期 | 2009-07-05 |
出版年 | 2009 |
语种 | 英语 |
摘要 | We provide a comparison of salient organizational features of primary markets for foreign government debt over the very long run. We focus on output, quality control, information provision, competition, pricing, charging and signaling. We find that the market set up experienced a radical transformation in the recent period and interpret this as resulting from the rise of liability insurance provided by rating agencies. Underwriters have given up their former role as gatekeepers of liquidity and certification agencies to become aggressive competitors in a new speculative grade market. |
主题 | International Macroeconomics |
关键词 | Banks competition Certification Primary bond market Sovereign debt crises |
URL | https://cepr.org/publications/dp7354 |
来源智库 | Centre for Economic Policy Research (United Kingdom) |
资源类型 | 智库出版物 |
条目标识符 | http://119.78.100.153/handle/2XGU8XDN/536189 |
推荐引用方式 GB/T 7714 | Andrew Rose,Mark Spiegel. DP7354 Cross-Country Causes and Consequences of the 2008 Crisis: Early Warning. 2009. |
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