Rating agencies remain in the spotlight and they seemingly can never make anyone happy: when they junk or downgrade countries, it obviously hurts, when they fail to do just that, they get blamed for not warning the world to the looming economic crisis. A recent commentary in the Financial Times (and the above illustration) is clearly pointing the finger at them.
PERG, however, had the privilege to listen to a more nuanced take: Zsofia Barta (EUI) presented her research on how rating agencies determine the creditworthiness of a country. More details on the PERG website.
Jan 24, 2012
Rating the Rating Agencies
Jan 19, 2012
On Kiev's Black Money Markets
PERG's very own Vera Asenova discovers how restricted markets can still lead to an increase in Pareto efficiency... well, through the good old black market. Read more about her money exchange adventures in Kiev, Ukraine on her blog.
(Reuters) People waiting for Vera to approach them with euros, in front of a Kiev exchange.
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