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public discussion of our empirical strategy and results has been somewhat muddled. Here, we attempt to clarify matters … in the debt-growth connection and thresholds evident in the data (absolutely central points that seem to have been lost …
Persistent link: https://www.econbiz.de/10008490100
In this study, we begin by assessing the ability of sovereign credit ratings to anticipate crises. In addition, given the wave of sovereign credit ratings downgrades that have followed the crises in Asia, we investigate formally the extent to which credit ratings are reactive. Along the way, we...
Persistent link: https://www.econbiz.de/10008531919
In focusing on the 24 month window prior to the onset of the crisis, the criteria for ranking the indicators presented … in our related work does not distinguish between a signal given 12 months prior to the crisis and one given one month … prior to the crisis. In what follows we examine this issue, by tabulating for each of the monthly indicators the average …
Persistent link: https://www.econbiz.de/10008531924
to which a country is vulnerable. An application of the signals methodology to recent data also offered some insights as …
Persistent link: https://www.econbiz.de/10008531926
introduced in Kaminsky and Reinhart (1996) and applied to the out-of-sample data during January 1996- June 1997 in this section …
Persistent link: https://www.econbiz.de/10008531929
indicators. In particular, the sample size has been expanded by including 26 years worth of data for an additional five countries …
Persistent link: https://www.econbiz.de/10008531936
The U.S recession of 2007 to 2009 is unique in the post-World-War-II experience by the broad company it kept. Activity contracted around the world, with the advanced countries of the North experiencing declines in spending normally the purview of the developing economies of the South. The last...
Persistent link: https://www.econbiz.de/10008577646
allowed us to estimate the likelihood of low to high globalization following a variety of shocks in crisis-prone emerging …
Persistent link: https://www.econbiz.de/10005789519
In this note, we attempt to place the question of how we got to the global financial crisis that began as the US …
Persistent link: https://www.econbiz.de/10011259756
Why are investors rushing to purchase US government securities when the US is the epicentre of the financial crisis … makers should bear in mind as they handle the crisis. …
Persistent link: https://www.econbiz.de/10005835897