Credit ratings and security prices in the subprime MBS market

American Economic Review

Volumn 101, Issue 3, 2011, Pages 115-119

  Ashcraft, Adam ^a   Goldsmith Pinkham, Paul ^b   Hull, Peter ^a   Vickery, James ^a  

^a FEDERAL RESERVE BANK OF NEW YORK   (United States)

^b HARVARD UNIVERSITY   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 79958287249     PISSN: 00028282     EISSN: None     Source Type: Journal    
DOI: 10.1257/aer.101.3.115     Document Type: Conference Paper

References (11)

1. Adelino, Manuel. 2009. "Do Investors Rely on Ratings? The Case of Mortgage-Backed Securities". Unpublished.
2. 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.
3. Ashcraft, Adam, Peter Hull, and James Vickery. Unpublished. "How Much Do Credit Ratings Affect Credit Supply? Evidence from the Subprime MBS Market"
4. Bolton, Patrick, Xavier Freixas, and Joel Shapiro. 2009. "The Credit Ratings Game". National Bureau of Economic Research Working Paper 14712.
5. Griffin, John, and Dragon Tang. 2009. "Did Subjectivity Play a Role in CDO Credit Ratings?" Unpublished.
6. He, Jie, Jun. Qian, and Philip Strahan. 2009. "Credit Ratings and the Evolution of the Mortgage-Backed Securities Market". Unpublished.
7. Kisgen, Darren J., and Philip E. Strahan. 2010. "Do Regulations Based on Credit Ratings Affect a Firm's Cost of Capital?" Review of Financial Studies, 23(12):4324-47.
8. Mathis, Jerome, James McAndrews, and Jean-Charles Rochet. 2009. "Rating the Raters: Are Reputation Concerns Powerful Enough to Discipline Rating Agencies?" Journal of Monetary Economics, 56(5):657-74.
9. Mian, Atif, and Amir Sufi. 2009. "The Consequences of Mortgage Credit Expansion: Evidence from the U. S. Mortgage Default Crisis". Quarterly Journal of Economics, 124(4):1449-96.
10. Opp, Christian, Marcus Opp, and Milton Harris. 2010. "Ratings Agencies in the Face of Regulation: Rating Inflation and Regulatory Arbitrage". Unpublished.
11. Stanton, Richard, and Nancy Wallace. 2010. "CMBS Subordination, Ratings Inflation, and the Crisis of 2007-2009". National Bureau of Economic Research Working Paper 16206.