EARLY WARNING SYSTEMS FOR FINANCIAL CRISES.A CRITICAL APPROACH

Stanislav Percic (), Constantin-Marius Apostoaie () and Vasile Cocris ()
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Stanislav Percic: Alexandru Ioan Cuza University of Iasi, Romania
Constantin-Marius Apostoaie: Alexandru Ioan Cuza University of Iasi, Romania
Vasile Cocris: Alexandru Ioan Cuza University of Iasi, Romania

CES Working Papers, 2013, vol. 5(1), issue 1, 77-88

Abstract: This research paper aims to analyse some Early Warning Systems (EWS) for predicting financial crises. The importance of such a study is undeniable in the context of the current and future mix of policies applied by the monetary authority, in which financial stability and price stability play an important role. The EWS for crises enable the prediction of the occurrence of a crisis within a specified time period. Hence, the theoretical approach of the main early warning systems for crises, the models based on signal extraction and the logit/probit models represent an important stage in preventing and fighting financial crises.

Keywords: financial crisis; currency crisis; Early Warning System; signal extraction; crisis prediction Romania (search for similar items in EconPapers)
JEL-codes: E44 E47 F31 F47 G01 (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:jes:wpaper:y:2013:v:5:i:1:p:77-88

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