Chong, Terence; He, Qing; Hinich, Melvin - In: Studies in Nonlinear Dynamics & Econometrics 12 (2008) 4, pp. 1605-1605
A new early-warning system for international currency crises is developed in this paper. The existing crisis indicators in the literature are essentially static. We examine the relationship between the dynamics of foreign reserves and currency crises. It is shown that rapid reserve depletion is...