Italy Beats Moody’s.

Moody’s is the largest of the three major rating agencies. It employs 7000 people worldwide and posted sales of 2.7 billion in 2012. Since rating agencies are under heavy fire from the beginning of the financial crisis – in January 2011, the Commission of Inquiry Financial Crisis U.S. Senate stated that “The three rating agencies…

Complexity Profiling and Causality

A Complexity Profile is probably the most important result of a complexity analysis and it may be helpful when it comes to shedding some light on the issue of causality. Its interpretation, therefore, is of paramount importance. Before this is done, it is important to consolidate a few basic concepts. There are two types of…