Leading Indicators of Currency Crises /

This paper examines the empirical evidence on currency crises and proposes a specific early warning system. This system involves monitoring the evolution of several indicators that tend to exhibit an unusual behavior in the periods preceding a crisis. When an indicator exceeds a certain threshold va...

詳細記述

書誌詳細
第一著者: Kaminsky, Graciela
フォーマット: 雑誌
言語:English
出版事項: Washington, D.C. : International Monetary Fund, 1997.
シリーズ:IMF Working Papers; Working Paper ; No. 1997/079
オンライン・アクセス:Full text available on IMF
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500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
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520 3 |a This paper examines the empirical evidence on currency crises and proposes a specific early warning system. This system involves monitoring the evolution of several indicators that tend to exhibit an unusual behavior in the periods preceding a crisis. When an indicator exceeds a certain threshold value, this is interpreted as a warning 'signal' that a currency crisis may take place within the following 24 months. The variables that have the best track record within this approach include exports, deviations of the real exchange rate from trend, the ratio of broad money to gross international reserves, output, and equity prices. 
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830 0 |a IMF Working Papers; Working Paper ;  |v No. 1997/079 
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