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The Duration of Capital Account Crises—An Empirical Analysis, David Hofman, Ruben Atoyan, Dimitri Tzanninis, Mauro Mecagni

Abstract
This paper examines the duration of capital account crises. We develop a new index to identify both the start and the end of these crises. Applying the index to a sample of 18 crisis episodes, we derive stylized facts on crisis duration and review the economic and financial circumstances that prevailed at the dusk of crises, a relatively unexplored area. We use the econometric technique of duration analysis to gauge the relative importance of various factors affecting the probability of exiting a crisis. We find that initial and external conditions are key determinants. But fiscal and monetary policies can also help shorten crisis duration
Table Of Contents
Contents; I. Introduction; II. Measuring the Duration of Capital Account Crises; A. Conceptual Challenge of Defining the End of Crises; Boxes; 1. Methods for Identifying the Beginning of Crises; B. An Index to Measure Crisis Duration; Tables; 1. Timeline of Recent Capital Account Crises; 2. Duration of Recent Capital Account Crises; 2. Application of the Index: One Example and Two Special Cases; C. Stylized Facts; Figures; 1. Frequency Distribution of Crises Duration; 3. Duration and Nature of Crises; D. Sensitivity Analysis; 2. Alternate Measures of Crisis Duration
Language
eng
Literary Form
non fiction
Note
Description based upon print version of record
Physical Description
1 online resource (44 p.)
Specific Material Designation
remote
Form Of Item
online
Isbn
9786613824011

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