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António Afonso

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Case report Open access Jul 2026

Sovereign Ratings and Risk Pricing, Agency Divergences in the European Union

Using annual EU-27 data for 1995-2024, we examine whether sovereign ratings mainly reflect common macro-fiscal fundamentals or whether agency-specific departures from that benchmark are also priced into sovereign funding conditions. Pooled ordered probits and a machine-learning diagnostic layer for nonlinearities and t...

António Afonso, José Alves, Periklis Gogas et al. · 0 citations

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