This paper estimates an early warning system (EWS) for predicting systemic banking crises in a sample of low income countries in Sub-Saharan Africa. Since the average duration of crises in this sample of countries is longer than one year, the predictive performance of standard binomial logit...

This paper estimates an early warning system for predicting systemic banking crises in a sample of low income countries in Sub-Saharan Africa. Since the average duration of crises in this sample of countries is longer than one year, the predictive performance of standard binomial logit models is...

This paper uses an autocorrelation function (ACF) approach to develop a new testing procedure for international output convergence. We define convergence in terms of sample ACFs of detrended output per capita, and construct an inference set-up based on resampling and subsampling techniques for...

This paper shows that the widely used log-linearization of the neoclassical model of growth implies a relevant loss in terms of the ability of the model in replicating the patterns of convergence of an economy to its equilibrium level.