CALL FOR PAPERS: FINANCIAL INSTITUTIONS MATTER: THE ECONOMICS OF RATING AGENCIES

  • Institution ECONOMIC NOTES: JOURNAL OF BANKING FINANCE AND MONETARY ECONOMICS
  • Event Type Call for Paper
  • Date May 31, 2013 - December 30, 2013
  • Location SIENA, ITALY
  • Details

    The role played by rating agencies during the recent financial meltdown has raised many fundamental questions – about which we are inviting contributions. We can toughly group these questions into five categories: 1) The first of all questions is that of existence. Why have credit agencies emerged as financial institutions and how have they evolved. How is it that credit ratings have come to play such a paramount role in certain financial transactions? 2) Another related set of questions concerns the market structure of the credit rating industry itself. Why are there apparently so few credit rating firms? Should we characterize the credit rating business as competitive or collusive? 3) A third group concerns the ratings themselves. Do ratings provide unbiased information regarding differences in obligor’s capacity to repay? Or, do ratings provide incremental information to lenders in addition to publicly available data? 4) A fourth category of questions deals with the context-specificity of ratings. Do ratings have a uniform meaning and interpretation across different countries? Can a rating system originated in the US be transplanted in other countries, or are adjustments needed to account for differences in accounting and financial practices? 5) The final set of questions pertains to the use of ratings for regulatory purposes. What is the proper regulatory use of credit ratings? If credit ratings are to be used for regulatory purposes, how should we construct the mapping of ratings into regulatory capital requirements? Could market data be used as a substitute for credit ratings for regulatory purposes? Contributors wishing to participate in that thematic issue should express their interest and send a one-page abstract by December 31st 2013 to economic.notes@banca.mps.it or luca.fiorito@unipa.it. Final papers will have to be sent by the end of June 2014; they will be refereed according to the usual procedure of the review. The publication is scheduled on April 2015.

  • Booking Details

    We cordially invite you to submit your manuscript to the special issue on The Economics of Rating Agencies, which will be published in Economic Notes. Given the interdisciplinary character of the topic we welcome contribution from both economic and legal scholars. Economic Notes is an invaluable journal presenting key issues in the fields of banking, finance and monetary economics. Through its 35 years the journal has earned a reputation for open debate. It publishes quality papers from academics and researchers as well as executives working in financial institutions, firms and the public sector. Economic Notes is published by Wiley-Blackwell on behalf of the MPS Banking Group.

  • Website http://onlinelibrary.wiley.com/journal/10.1111/%28ISSN%291468-0300
  • Contact LUCA FIORITO
  • Email luca.fiorito@unipa.it

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