Crisis, Debt, and Default

The Effects of Time Preference, Information, and Coordination
1. Auflage 2016
ISBN: 978-3-658-13230-9
Verlag: Springer

Buch, Englisch, 138 Seiten, Book, Format (B × H): 148 mm x 210 mm, Gewicht: 2055 g

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.

Zielgruppe

Research

Autoren/Hrsg.

Ernstberger, Philip

Fachgebiete

• Wirtschaftswissenschaften Volkswirtschaftslehre Internationale Wirtschaft Internationale Finanzmärkte
• Wirtschaftswissenschaften Volkswirtschaftslehre Finanzkrisen, Wirtschaftskrisen
• Wirtschaftswissenschaften Finanzsektor & Finanzdienstleistungen Internationale Finanzmärkte
• Wirtschaftswissenschaften Finanzsektor & Finanzdienstleistungen Finanzkrisen
• Wirtschaftswissenschaften Volkswirtschaftslehre Volkswirtschaftslehre Allgemein Geldwirtschaft, Währungspolitik

Inhaltsverzeichnis

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

Über Autor(innen)

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.