Systemic Financial Crises, Balance Sheets, and Model Uncertainity /

This paper empirically examines the probability and intensity of financial crises during the 1990s with a view to informing crisis prevention and mitigation policies. The econometric analysis uses a decision-theoretic approach, rather than the more standard general-to-specific approach, to address t...

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Hlavní autor: Weeks, Melvyn
Další autoři: Stone, Mark
Médium: Časopis
Jazyk:English
Vydáno: Washington, D.C. : International Monetary Fund, 2001.
Edice:IMF Working Papers; Working Paper ; No. 2001/162
On-line přístup:Full text available on IMF
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245 1 0 |a Systemic Financial Crises, Balance Sheets, and Model Uncertainity /  |c Melvyn Weeks, Mark Stone. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 2001. 
300 |a 1 online resource (38 pages) 
490 1 |a IMF Working Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a This paper empirically examines the probability and intensity of financial crises during the 1990s with a view to informing crisis prevention and mitigation policies. The econometric analysis uses a decision-theoretic approach, rather than the more standard general-to-specific approach, to address the high degree of model uncertainty. The results affirm the importance of balance sheets in the probability and intensity of financial crises, especially corporate balance sheet stresses and foreign exchange liquidity shortfalls. Model uncertainty is a bigger problem for estimating crisis intensity compared to crisis probability. 
538 |a Mode of access: Internet 
700 1 |a Stone, Mark. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2001/162 
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