Assessing Early Warning Systems How Have they Worked in Practice?

Since 1999, the IMF's staff has been tracking several early-warning-system (EWS) models of currency crisis. The results have been mixed. One of the long-horizon models has performed well relative to pure guesswork and to available non-model-based forecasts, such as agency ratings and private an...

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Bibliographic Details
Main Author: Berg, Andrew
Other Authors: Borensztein, Eduardo, Pattillo, Catherine
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2004
Series:IMF Working Papers
Subjects:
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
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653 |a Exchange rate arrangements 
653 |a Macroeconomic Aspects of International Trade and Finance: Forecasting and Simulation 
653 |a Financial crises 
653 |a Value of Firms 
653 |a Exchange rate adjustments 
653 |a Currency 
653 |a Crisis management 
653 |a Foreign Exchange 
653 |a Currency crises 
653 |a Capital and Ownership Structure 
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653 |a Financing Policy 
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520 |a Since 1999, the IMF's staff has been tracking several early-warning-system (EWS) models of currency crisis. The results have been mixed. One of the long-horizon models has performed well relative to pure guesswork and to available non-model-based forecasts, such as agency ratings and private analysts' currency crisis risk scores. The data do not speak clearly on the other long-horizon EWS model. The two short-horizon private sector models generally performed poorly