Borradores de Economia
Number:
478
Published:
Classification JEL:
C4, E44, G21, G23, G38
Keywords:
Human capital agglomeration, Social returns, Private returns, Externalities, Uncertainty, Fiscal policy
The most recent
Catalina Granda-Carvajal, Jesús Enrique Morales-Piñero
Elkin Navas-Diago, Jorge Quintero-Otero
Cristian David González-Téllez
This study presents an alternative way of estimating credit transition matrices using a hazard function model. The model is useful both for testing the validity of the Markovian assumption, frequently made in credit rating applications, and also for estim