Friday, October 18, 2019
Using the Tools of Industrial Organization to Illuminate the Credit Rating Industry
By: | Lawrence J. White |
Abstract: | Until slightly more than a decade ago, the credit rating industry was largely a little-recognized and little-understood part of the financial system plumbing. This obscurity changed with the financial crisis of 2008 and its aftermath. After a few years of intensive attention, however, the CRAs have retreated back to semi-obscurity and attract little media or political attention. The tools of industrial organization (IO) can help us understand this industry: its structure; its behavior; and its outcomes; and the public policies that are likely to improve its functioning. |
URL: | http://d.repec.org/n?u=RePEc:ste:nystbu:19-02&r=com |
https://lawprofessors.typepad.com/antitrustprof_blog/2019/10/using-the-tools-of-industrial-organization-to-illuminate-the-credit-rating-industry.html