Crisis, Debt, and Default
ISBN:
978-3-658-13230-9
Auflage:
1st ed. 2016
Verlag:
Springer Fachmedien Wiesbaden GmbH
Land des Verlags:
Deutschland
Erscheinungsdatum:
12.05.2016
Format:
Softcover
Seitenanzahl:
138
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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.
Schlagwörter
Biografische Anmerkung
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.
