Credit Risk Migration and Economic Cycles

The misestimation of rating transition probabilities may lead banks to lend money incoherently with borrowers’ default trajectory, causing both a deterioration in Airconditioner Remote Control asset quality and higher system distress.Applying a Mover-Stayer model to determine the migration risk of small and medium enterprises, we find that ba

read more



The assessment of cultures and the autonomy of communities

Cultural rights are one response to the mistreatment of minorities by dominant groups.Their protection has become a litmus test for the liberal nature of democratic states.At the same time, criticisms of cultural rights abound Seat Guide in scholarship and popular discourse.These include concerns that cultural rights distort and essentialize cultur

read more