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Crisis, Debt, and Default: The Effects of Time Preference, Information, and Coordination

Autor Philip Ernstberger
en Limba Engleză Paperback – 12 mai 2016
Philip Ernstberger analyses in his three essays different topics of financial pathologies. Thereby, changes in fundamentals as well as information are considered as the driving force for the behavior of speculators and investors. The first essay deals with currency crises, in which the central bank, through setting the interest rate, steers the economy and defends against speculators. The second essay examines the effects of a rating and possible biases on the coordination of investors and the pricing of debt. In the third essay the author uses forecasts of default probabilities and implied market default probabilities to infer the weighing of information by investors. 
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Specificații

ISBN-13: 9783658132309
ISBN-10: 3658132302
Pagini: 136
Ilustrații: XIV, 138 p. 35 illus.
Dimensiuni: 148 x 210 x 9 mm
Greutate: 0.21 kg
Ediția:1st ed. 2016
Editura: Springer Fachmedien Wiesbaden
Colecția Springer Gabler
Locul publicării:Wiesbaden, Germany

Cuprins

The Dynamics of Currency Crises.- The Mispricing of Debt - Influences of Ratings on Coordination.- Probability of Default and Precision of Information.


Notă biografică

Dr. Philip Ernstberger is currently working as a senior consultant in the field of risk modeling, concentrating on stress testing and operational risk methodologies, as well as rating model development and validation. 

Textul de pe ultima copertă

Philip Ernstberger analyses in his three essays different topics of financial pathologies. Thereby, changes in fundamentals as well as information are considered as the driving force for the behavior of speculators and investors. The first essay deals with currency crises, in which the central bank, through setting the interest rate, steers the economy and defends against speculators. The second essay examines the effects of a rating and possible biases on the coordination of investors and the pricing of debt. In the third essay the author uses forecasts of default probabilities and implied market default probabilities to infer the weighing of information by investors.

Contents
•The Dynamics of Currency Crises
•The Mispricing of Debt - Influences of Ratings on Coordination
•Probability of Default and Precision of Information

Target Groups
•Teachers and students of international macroeconomics and finance as well as monetary economics
•Executives and consultants in the field of corporate credit ratings

About the Author
Dr. Philip Ernstberger is currently working as a senior consultant in the field of risk modeling, concentrating on stress testing and operational risk methodologies, as well as rating model development and validation.


Caracteristici

Publication in the field of economic sciences