Feldkircher, Martin; Gruber, Thomas; Moder, Isabella - In: Focus on European Economic Integration (2014) 3, pp. 8-30
European (CESEE) economies. Our assessment is based on a nonparametric signaling or threshold approach, which involves … of the economy. Our in-sample test shows that the threshold approach identifies 73% of crisis events correctly while … an unexpected adverse event based on our threshold approach. …