Did credit rating agencies make unbiased assumptions on CDOs?

American Economic Review

Volumn 101, Issue 3, 2011, Pages 125-130

  Griffin, John M ^a   Tang, Dragon Yongjun ^b  

^a UNIVERSITY OF TEXAS AT AUSTIN   (United States)

^b UNIVERSITY OF HONG KONG   (Hong Kong)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 79958266269     PISSN: 00028282     EISSN: None     Source Type: Journal    
DOI: 10.1257/aer.101.3.125     Document Type: Conference Paper

References (10)

1. Ashcraft, Adam, Paul Goldsmith-Pinkham, and James Vickery. 2010. "MBS Ratings and the Mortgage Credit Boom". Federal Reserve Bank of New York Staff Report 449.
2. Benmelech, Efraim, and Jennifer Dlugosz. 2009. "The Alchemy of CDO Credit Ratings". Journal of Monetary Economics, 56(5):617-34.
3. Bolton, Patrick, Xavier Freixas, and Joel Shapiro. 2009. "The Credit Ratings Game". National Bureau of Economic Research Working Paper 14712.
4. Coval, Joshua D., Jakub W. Jurek, and Erik Stafford. 2009. "Symposium: Early Stages of the Credit Crunch: The Economics of Structured Finance". Journal of Economic Perspectives, 23(1):3-25.
5. Coval, Joshua D., Jakub W. Jurek, and Erik Stafford. 2009. "Economic Catastrophe Bonds". American Economic Review, 99(3):628-66.
6. Griffin, John M., Jeffrey H. Harris, and Selim Topaloglu. 2007. "Why Are IPO Investors Net Buyers through Lead Underwriters?" Journal of Financial Economics, 85(2):518-51.
7. Griffin, John M., and Dragon Yongjun Tang. 2011. "Did Subjectivity Play a Role in CDO Credit Ratings?" Unpublished.
8. Mehran, Hamid, and Rene M. Stulz. 2007. "The Economics of Conflicts of Interest in Financial Institutions". Journal of Financial Economics, 85(2):267-96.
9. Sangiorgi, Francesco, and Chester Spatt. 2010. "Equilibrium Credit Ratings and Policy". Unpublished.
10. Skreta, Vasiliki, and Laura Veldkamp. 2009. "Ratings Shopping and Asset Complexity: A Theory of Ratings Inflation". Journal of Monetary Economics, 56(5):678-95.