Increasing financial integration makes the assessment of cross-country linkages crucial for
effective financial surveillance. This paper estimates contagion risk between large Irish banks …

The large and growing international linkages of big Irish banks expose them to idiosyncratic
shocks arising in other countries. We analyze international interdependencies of Irish banks-…

This paper examines the relationship between organizational form and the potential for
corruption in two polar opposite cultural settings. We build a theoretical model of a licensing …

… Elena Duggar, Chair of Moody’s Macroeconomic Board, Associate Managing Director,
Credit Strategy & Research … Elena Duggar … Credit Strategy & Research +1.212.553.1911 …

The G-20 Debt Service Suspension Initiative (DSSI) was endorsed effective May 1, 2020, in
the midst of an unprecedented fall in government revenues and rapidly rising public …

Argentina’s 2020 debt restructuring was the second largest sovereign restructuring in history,
after Greece’s in 2012. The sovereign’s latest default was triggered by extending maturities …

This research addresses three problems that reformers face in developing and transition
countries—corruption, red tape and vested interests. The first chapter addresses the …

A growing body of research documents a global and persistent collapse in productivity
growth (see Moody’s 2017c and IMF 2017 for overviews). Globally, annual labor productivity …

Venezuela’s debt restructuring could be the fourth-largest sovereign restructuring in history.
The country’s default was triggered by missed interest payments on both government and …