{"id":2733,"date":"2018-12-01T13:25:27","date_gmt":"2018-12-01T12:25:27","guid":{"rendered":"https:\/\/www.ircres.cnr.it\/pubblicazione\/working-paper-ircres-cnr-11-2018-2\/"},"modified":"2024-02-06T14:25:38","modified_gmt":"2024-02-06T13:25:38","slug":"point-in-time-vs-through-the-cycle-filosofie-di-rating-a-confronto","status":"publish","type":"pubblicazione","link":"https:\/\/www.ircres.cnr.it\/en\/pubblicazione\/point-in-time-vs-through-the-cycle-filosofie-di-rating-a-confronto\/","title":{"rendered":"Point-in-time vs. through-the-cycle: filosofie di rating a confronto\u00a0\u00a0\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0\u00a0 \u00a0\u00a0\u00a0"},"content":{"rendered":"<h3>Working Paper Ircres-CNR 11\/2018<\/h3>\n<h3><strong>Point-in-time vs. through-the-cycle: filosofie di rating a confronto<\/strong><\/h3>\n<p>Point-in-time vs. through-the-cycle: comparing rating philosophies<\/p>\n<p>Franco Varetto<\/p>\n<p>CNR-IRCRES, Consiglio Nazionale delle Ricerche \u2013 Istituto di Ricerca sulla Crescita Economica Sostenibile, Via Real Collegio 30, Moncalieri (TO) \u2013 Italy<\/p>\n<p>corresponding author: <a href=\"mailto:francoww@tin.it\">francoww@tin.it<\/a><\/p>\n<p><strong>Abstract<\/strong><\/p>\n<p>There are two fundamental philosophies of credit rating: the point-in-time and the through-the-cycle approaches. This survey consider the explanations of the three main rating agencies, Standard&amp;Poor\u2019s, Moody\u2019s and Fitch, and compare them with the various quantitative models proposed in the scientific literature by researchers, consultants and regulators. Some common frameworks characterizing these models are identified and evaluated.<\/p>\n<p><strong>Keywords:<\/strong> Credit Rating, Probability of Default, Rating Agency, Point-in-Time, Through-the-Cycle.<\/p>\n<p><strong>JEL codes<\/strong> G21, G28, G32, G33<\/p>\n<p><strong>DOI:<\/strong> 10.23760\/2421-7158.2018.011<\/p>\n<p>________________________________________<\/p>\n<p><strong>How to Cite this Article<\/strong><\/p>\n<p>Varetto, F. (2018). Point-in-time vs. through-the-cycle: filosofie di rating a confronto. <em>Workin<\/em><em>g Paper IRCrES<\/em>,<em> 4<\/em>(10). http:\/\/dx.doi.org\/10.23760\/2421-7158.2018.011<\/p>\n<h3><\/h3>\n<h3><\/h3>\n<h3><\/h3>\n","protected":false},"parent":0,"menu_order":0,"template":"","categoria-pubblicazioni":[40],"class_list":["post-2733","pubblicazione","type-pubblicazione","status-publish","hentry","categoria-pubblicazioni-working-paper"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.ircres.cnr.it\/en\/wp-json\/wp\/v2\/pubblicazione\/2733","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ircres.cnr.it\/en\/wp-json\/wp\/v2\/pubblicazione"}],"about":[{"href":"https:\/\/www.ircres.cnr.it\/en\/wp-json\/wp\/v2\/types\/pubblicazione"}],"version-history":[{"count":1,"href":"https:\/\/www.ircres.cnr.it\/en\/wp-json\/wp\/v2\/pubblicazione\/2733\/revisions"}],"predecessor-version":[{"id":3644,"href":"https:\/\/www.ircres.cnr.it\/en\/wp-json\/wp\/v2\/pubblicazione\/2733\/revisions\/3644"}],"wp:attachment":[{"href":"https:\/\/www.ircres.cnr.it\/en\/wp-json\/wp\/v2\/media?parent=2733"}],"wp:term":[{"taxonomy":"categoria-pubblicazioni","embeddable":true,"href":"https:\/\/www.ircres.cnr.it\/en\/wp-json\/wp\/v2\/categoria-pubblicazioni?post=2733"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}