schliessen

Filtern

 

Bibliotheken

Credit ratings and security prices in the subprime MBS market

We present and discuss preliminary evidence suggesting that credit ratings significantly influenced prices for subprime mortgage-backed securities issued in the period leading up to the recent financial crisis. Ratings are closely correlated with prices even controlling for a rich set of security- a... Full description

Journal Title: The American economic review 2011, Vol.101(3), pp. 115-119
Main Author: Ashcraft, Adam
Other Authors: Goldsmith-Pinkham, Paul , Hull, Peter , Vickery, James,
Format: Electronic Article Electronic Article
Language: English
Subjects:
Usa
ID: ISSN: 0002-8282
Link: http://gso.gbv.de/DB=2.1/PPNSET?PPN=667038833
Zum Text:
SendSend as email Add to Book BagAdd to Book Bag
Staff View
recordid: gbv667038833
title: Credit ratings and security prices in the subprime MBS market
format: Article
creator:
  • Ashcraft, Adam
  • Goldsmith-Pinkham, Paul
  • Hull, Peter
  • Vickery, James
subjects:
  • Ratingagentur
  • Kreditwürdigkeit
  • Kapitaleinkommen
  • Subprime-Krise
  • Asset-Backed Securities
  • Usa
  • 2001-2007
ispartof: The American economic review, 2011, Vol.101(3), pp. 115-119
description: We present and discuss preliminary evidence suggesting that credit ratings significantly influenced prices for subprime mortgage-backed securities issued in the period leading up to the recent financial crisis. Ratings are closely correlated with prices even controlling for a rich set of security- and loan-level controls. This incremental variation in ratings has much less predictive power for security defaults, however, based on findings to date from our ongoing research, suggesting prices were excessively sensitive to ratings relative to their informational content. [PUBLICATION ]
language: eng
source:
identifier: ISSN: 0002-8282
fulltext: fulltext
issn:
  • 00028282
  • 0002-8282
url: Link


@attributes
ID1713861601
RANK0.07
NO1
SEARCH_ENGINEprimo_central_multiple_fe
SEARCH_ENGINE_TYPEPrimo Central Search Engine
LOCALfalse
PrimoNMBib
record
control
sourcerecordid667038833
sourceidgbv
recordidTN_gbv667038833
sourceformatMARC Exchange
sourcesystemOther
pqid871970777
galeid266606761
display
typearticle
titleCredit ratings and security prices in the subprime MBS market
contributorAshcraft, Adam ; Goldsmith - Pinkham, Paul ; Hull, Peter ; Vickery, James
ispartofThe American economic review, 2011, Vol.101(3), pp. 115-119
identifierISSN: 0002-8282
subjectRatingagentur ; Kreditwürdigkeit ; Kapitaleinkommen ; Subprime-Krise ; Asset-Backed Securities ; Usa ; 2001-2007
languageeng
source
descriptionWe present and discuss preliminary evidence suggesting that credit ratings significantly influenced prices for subprime mortgage-backed securities issued in the period leading up to the recent financial crisis. Ratings are closely correlated with prices even controlling for a rich set of security- and loan-level controls. This incremental variation in ratings has much less predictive power for security defaults, however, based on findings to date from our ongoing research, suggesting prices were excessively sensitive to ratings relative to their informational content. [PUBLICATION ]
creatorAshcraft, Adam ; Goldsmith-Pinkham, Paul ; Hull, Peter ; Vickery, James;
version9
lds50peer_reviewed
links
openurl$$Topenurl_article
openurlfulltext$$Topenurlfull_article
backlink$$Uhttp://gso.gbv.de/DB=2.1/PPNSET?PPN=667038833$$EView_record_in_GVK_Union_Catalogue
search
titleCredit ratings and security prices in the subprime MBS market
subject
0Ratingagentur
1Kreditwürdigkeit
2Kapitaleinkommen
3Subprime-Krise
4Asset-Backed Securities
5Usa
62001-2007
general
0English
1ECONIS (ZBW)
sourceidgbv
recordidgbv667038833
issn
000028282
10002-8282
rsrctypearticle
creationdate2011
addtitleThe American economic review
searchscope
0gbv
1econis
scope
0gbv
1econis
contributor
0Ashcraft, Adam
1Goldsmith - Pinkham, Paul
2Hull, Peter
3Vickery, James
startdate20110101
enddate20111231
citationpf 115 pt 119 vol 101 issue 3
lsr30VSR-Enriched:[pqid, description, galeid, creator, eissn, doi, date]
sort
titleCredit ratings and security prices in the subprime MBS market
authorAshcraft, Adam ; Goldsmith - Pinkham, Paul ; Hull, Peter ; Vickery, James
creationdate20110000
lso0120110000
facets
frbrgroupid938281085158075246
frbrtype5
languageeng
topic
0Ratingagentur
1Kreditwürdigkeit
2Kapitaleinkommen
3Subprime-Krise
4Asset-Backed Securities
5Usa
62001-2007
collectionECONIS (ZBW)
prefilterarticles
rsrctypearticles
jtitleAmerican economic review
creationdate2011
toplevelpeer_reviewed
delivery
delcategoryRemote Search Resource
fulltextfulltext
addata
addau
0Ashcraft, Adam
1Goldsmith - Pinkham, Paul
2Hull, Peter
3Vickery, James
atitleCredit ratings and security prices in the subprime MBS market
jtitleThe American economic review
risdate2011
volume101
issue3
spage115
epage119
pages115-119
issn00028282
formatjournal
genrearticle
ristypeJOUR
doi10.1257/aer.101.3.115
eissn19447981
date2011-05-01