@inproceedings{Herz2006twin,
abstract = {We show theoretically and empirically that twin currency and debt crises should be treated as
a particular crisis type. Twin currency and debt crises differ from both pure currency and pure
debt crises in their determinants, the course of the crises, and their economic consequences.
We find that each crises type has a unique set of macroeconomic causes. We also uncover
internal contagion and selection bias effects which may lead to biased results if twin crises are
not treated separately. Such a separation considerably improve the efficiency of early warning
systems especially on debt and twin crises.},
author = {Bernhard Herz and Christian Bauer and Volker Karb},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
keywords = {330},
language = {eng},
number = {11},
series = {Proceedings of the German Development Economics Conference, Berlin 2006 / Verein f\"{u}r Socialpolitik, Research Committee Development Economics},
title = {Are twin currency and debt crises special?},
url = {http://hdl.handle.net/10419/19839},
year = {2006}
}
