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dc.contributor.authorAßmann, Christianen
dc.date.accessioned2011-05-13-
dc.date.accessioned2011-05-13T14:45:04Z-
dc.date.available2011-05-13T14:45:04Z-
dc.date.issued2011-
dc.identifier.isbn978-3-931052-90-4en
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
dc.language.isoengen
dc.publisher|aBamberg University, Bamberg Economic Research Group on Government and Growth (BERG) |cBambergen
dc.relation.ispartofseries|aBERG Working Paper Series on Government and Growth |x80en
dc.subject.jelF32en
dc.subject.jelC15en
dc.subject.jelC23en
dc.subject.jelC33en
dc.subject.jelO10en
dc.subject.ddc330en
dc.subject.keywordCurrency crisesen
dc.subject.keywordCurrent account reversalsen
dc.subject.keywordTreatment Modelen
dc.subject.keywordDiscrete dependent variableen
dc.subject.keywordEfficient Importance Samplingen
dc.subject.keywordPanel Dataen
dc.titleAssessing the effect of current account and currency crises on economic growth-
dc.typeWorking Paperen
dc.identifier.ppn658138502en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:bamber:80en

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