Polito, Vito; Wickens, Michael R. - C.E.P.R. Discussion Papers - 2012
A methodology for generating sovereign credit ratings based on macroeconomic theory is proposed. This is applied to … quarterly U.S. data from 1970 to 2011. Over this period the official credit rating of U.S. Treasury securities has been of the … highest quality. In contrast, the model-based measure finds that there are two clear instances in which the U.S. sovereign …