Public policy has played a critical role in creating and shaping global renewable energymarkets. Yet 30 years since the passage of the first federal program in the U.S., under thePublic Utilities Regulatory Policies Act (PURPA), renewable power generation still constitutesless than three percent...

We model EU countries? bank ratings using financial variables and allowing for intercept and slope heterogeneity. We find that country-specific factors (in the form of heterogeneous intercepts) are a crucial determinant of ratings. Whilst ?new? EU countries typically have lower ratings than...