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dc.contributor.authorAßmann, Christianen_US
dc.date.accessioned2011-05-13en_US
dc.date.accessioned2011-05-13T14:45:04Z-
dc.date.available2011-05-13T14:45:04Z-
dc.date.issued2011en_US
dc.identifier.isbn978-3-931052-90-4en_US
dc.identifier.urihttp://hdl.handle.net/10419/45547-
dc.description.abstractSeveral empirical studies are concerned with measuring the effect of currency and current account crises on economic growth. Using different empirical models this paper serves two aspects. It provides an explicit assessment of country specific factors influencing the costs of crises in terms of economic growth and controls via a treatment type model for possible sample selection governing the occurrence of crises in order to estimate the impact on economic growth correctly. The applied empirical models allow for rich intertemporal dependencies via serially correlated errors and capture latent country specific heterogeneity via random coefficients. For accurate estimation of the treatment type model a simulated maximum likelihood approach employing efficient importance sampling is used. The results reveal significant costs in terms of economic growth for both crises. Costs for reversals are linked to country specific variables, while costs for currency crises are not. Furthermore, shocks explaining current account reversals and growth show strong significant positive correlation.en_US
dc.language.isoengen_US
dc.publisherBERG Bambergen_US
dc.relation.ispartofseriesBERG working paper series on government and growth 80en_US
dc.subject.jelF32en_US
dc.subject.jelC15en_US
dc.subject.jelC23en_US
dc.subject.jelC33en_US
dc.subject.jelO10en_US
dc.subject.ddc330en_US
dc.subject.keywordCurrency crisesen_US
dc.subject.keywordCurrent account reversalsen_US
dc.subject.keywordTreatment Modelen_US
dc.subject.keywordDiscrete dependent variableen_US
dc.subject.keywordEfficient Importance Samplingen_US
dc.subject.keywordPanel Dataen_US
dc.titleAssessing the effect of current account and currency crises on economic growthen_US
dc.typeWorking Paperen_US
dc.identifier.ppn658138502en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
dc.identifier.repecRePEc:zbw:bamber:80-
Appears in Collections:BERG Working Paper Series, Universität Bamberg

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