| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP7575 |
| DP7575 Testing the Monetary Policy Rule in the US: a Reconsideration of the Fed?s Behaviour | |
| Patrick Minford; Zhirong Ou | |
| 发表日期 | 2009-11-22 |
| 出版年 | 2009 |
| 语种 | 英语 |
| 摘要 | This paper examines the role of credit rating agencies in the subprime crisis that triggered the 2007-08 financial turmoil. The focus of the paper is on two aspects of ratings that contributed to the boom and bust of the market for asset-backed securities: rating inflation and coarse information disclosure. The paper discusses how regulation can be designed to mitigate these problems in the future. The suggestion is that regulators should require rating agencies to be paid by investors rather than by issuers (or at least constrain the way they are paid by issuers) and force greater disclosure of information about the underlying pool of securities. |
| 主题 | Financial Economics |
| 关键词 | Credit rating agencies Crisis Default Liquidity Securitization Transparenccy |
| URL | https://cepr.org/publications/dp7575 |
| 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/536412 |
| 推荐引用方式 GB/T 7714 | Patrick Minford,Zhirong Ou. DP7575 Testing the Monetary Policy Rule in the US: a Reconsideration of the Fed?s Behaviour. 2009. |
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