Número:
478
Publicado:
Clasificación JEL:
C4, E44, G21, G23, G38
Palabras clave:
Firms, macroeconomic variables, firm-specific covariates, hazard function
Lo más reciente
Lukas Delgado-Prieto, Andrea Sofía Otero-Cortés, Andrés Calderón
Julián Andrés Parra-Polanía, Carmiña Ofelia Vargas-Riaño
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