Borradores de Economia
Número:
478
Publicado:
Clasificación JEL:
C4, E44, G21, G23, G38
Palabras clave:
Firms, macroeconomic variables, firm-specific covariates, hazard function
Lo más reciente
Jaime Alfredo Bonet-Moron, Jorge Guerra-España, Jhorland Ayala-García
Juliana Jaramillo-Echeverri, Andrea Sofía Otero-Cortés, Ana María Tribín-Uribe, Juanita Villaveces
Miguel Sarmiento, John Sebastian Tobar-Cruz, Andrés Esteban Casas-Fajardo, Eduardo Yanquen-Briñez
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