Jeffery D. Amato

TL;DR: In this article, the influence of the state of the business cycle on credit ratings is investigated. But, the authors find little evidence of procyclicality in ratings and find that initial ratings and rating changes exhibit excess sensitivity to business cycle.

TL;DR: In this article, the influence of the state of the business cycle on credit ratings has been studied, and it was shown that ratings do not generally exhibit excess sensitivity to business cycle.

TL;DR: In this article, the authors argue that credit spreads on corporate bonds tend to be many times wider than what would be implied by expected default losses alone, and they argue that spreads are so wide because they are pricing undiversified credit risk.

TL;DR: The authors explored the economic effects of public information that arise whenever public information serves the dual role of conveying fundamental information as well as serving as a focal point for better coordination, and showed that while public information can be very effective in influencing actions through coordination, sometimes it can be too effective and coordinate actions away from fundamentals.

TL;DR: In the early 1990s, several emerging market and transition economies (EMEs) have adopted IT as discussed by the authors, and the role of preconditions for IT, the use of intermediate exchange rate targets, and the specification of inflation targets.