at Google ScholarTitle data
Bauer, Christian ; Herz, Bernhard ; Karb, Volker:
Are twin currency and debt crises special?
In: Journal of Financial Stability.
Vol. 3
(2007)
Issue 1
.
- pp. 59-84.
ISSN 1572-3089
DOI: https://doi.org/10.1016/j.jfs.2007.03.002
Abstract in another language
In the literature on currency and banking crises it has become the standard procedure to distinguish pure currency crises, pure banking crises and combined (“twin”) currency and banking crises. We show theoretically and empirically that a similar differentiation should be chosen with regard to currency and debt crises. Twin currency and debt crises differ from both pure currency and pure debt crises in their determinants, course of events, and economic consequences. We find that each type of crises has a unique set of macroeconomic causes. We also identify internal contagion and selection bias effects, which may lead to biased empirical estimates if twin crises are not treated as a specific type of crises. Such a separation allows in significantly improving the efficiency of early warning systems especially for debt and twin crises.
Further data
| Item Type: | Article in a journal |
|---|---|
| Refereed: | Yes |
| Keywords: | Currency crises; Debt crises; Twin crises; Emerging markets |
| Subject classification: | JEL classification: F31; F33; F34; F41 |
| Institutions of the University: | Faculties Faculties > Faculty of Law, Business and Economics Faculties > Faculty of Law, Business and Economics > Department of Economics Faculties > Faculty of Law, Business and Economics > Department of Economics > Chair Economics I - International Economics and Finance Faculties > Faculty of Law, Business and Economics > Department of Economics > Chair Economics I - International Economics and Finance > Chair Economics I - International Economics and Finance - Univ.-Prof. Dr. Bernhard Herz |
| Result of work at the UBT: | Yes |
| DDC Subjects: | 300 Social sciences > 330 Economics |
| Date Deposited: | 30 Nov 2017 08:12 |
| Last Modified: | 04 Jul 2022 13:25 |
| URI: | https://eref.uni-bayreuth.de/id/eprint/40599 |