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Indexing Speculative Pressure on an Exchange Rate Regime: A Case Study of Macedonia
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King Banaian
Published/Copyright:
March 2, 2006
This paper modifies an ad hoc index originated by Eichengreen et al (1995,1996), which is often used to document financial crises in emerging markets. By assuming nonlinear dynamics in a system of financial data, we successfully develop an alternative approach that not only captures the essence of the conventional index but also offers an indicator that leads the crises in-sample. This is very important for policy markers of transitional economies like Macedonia, for which the historical macroeconomic data are often inadequate for existing "early warning sign" systems of potential crises.
Published Online: 2006-3-2
©2011 Walter de Gruyter GmbH & Co. KG, Berlin/Boston
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- Heterogeneous Consumption Goods, Sectoral Change, and Economic Growth
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- Indexing Speculative Pressure on an Exchange Rate Regime: A Case Study of Macedonia
Articles in the same Issue
- Article
- On Robust Trend Function Hypothesis Testing
- Heterogeneous Consumption Goods, Sectoral Change, and Economic Growth
- Support for Governments and Leaders: Fractional Cointegration Analysis of Poll Evidence from the UK, 1960-2004
- Non-linear Real Exchange Rate Effects in the UK Labour Market
- Model Selection Uncertainty and Detection of Threshold Effects
- Indexing Speculative Pressure on an Exchange Rate Regime: A Case Study of Macedonia
