Figure 6 - Random effects estimation including country specific errors
6a -Moody’s
6b - S&P
6c - Fitch
Note: observations above (below) the diagonal are predicted by the model above (below) the actual rating.
57
Figure 6 - Random effects estimation including country specific errors
6a -Moody’s
6b - S&P
6c - Fitch
Note: observations above (below) the diagonal are predicted by the model above (below) the actual rating.
57