Babecky, Jan; Havranek, Tomas; Mateju, Jakub; Rusnak, Marek - Česká Národní Banka - 2011
Using a panel of 40 EU and OECD countries for the period 1970-2010 we construct an early warning system. The system consists of a discrete and a continuous model. In the discrete model, we collect an extensive database of various types of economic crises called CDEC 40-40 and examine potential...