Pistelli, Alfredo - In: Revista de Analisis Economico – Economic Analysis Review 22 (2007) 2, pp. 3-27
This paper provides a critical analysis of Kaminsky and Reinhart (1999) (KR), perhaps the most prominent empirical paper on causes of currency crises. After dealing with problems present in this paper, it proposes an aggregate leading indicator of crisis. The proposed indicator performs better...