Standards Are Poor

Manfred Gärtner ()

Intereconomics: Review of European Economic Policy, 2014, vol. 49, issue 6, 340-347

Abstract: Competence behind sovereign ratings is crucial, given that the government bond market may be vulnerable to multiple equilibria and self-fulfilling prophecies. With this in mind, this paper reviews and scrutinises official Standard & Poor’s publications that address key issues surrounding the government bond market and the role of ratings. It presents a lack of competence, revealed in an inadequate grasp of crucial concepts such as multiple equilibria and self-fulfilling prophecy, obliviousness to Standard and Poor’s own rating methodology, and a nonchalant treatment of facts that casts a poor light on the agency’s integrity. Copyright ZBW and Springer-Verlag Berlin Heidelberg 2014

Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:spr:intere:v:49:y:2014:i:6:p:340-347

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DOI: 10.1007/s10272-014-0517-8

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