How Long to Read Comparing Parametric and Non-parametric Early Warning Systems for Currency Crises in Emerging Market Economies
By Mr.Fabio Comelli
How Long Does it Take to Read Comparing Parametric and Non-parametric Early Warning Systems for Currency Crises in Emerging Market Economies?
It takes the average reader and 30 minutes to read Comparing Parametric and Non-parametric Early Warning Systems for Currency Crises in Emerging Market Economies by Mr.Fabio Comelli
Assuming a reading speed of 250 words per minute. Learn more
Description
The purpose of this paper is to compare in-sample and out-of-sample performances of three parametric and non-parametric early warning systems (EWS) for currency crises in emerging market economies (EMs). The parametric EWS achieves superior out-of-sample results compared to the non-parametric EWS, as the total misclassification error of the former is lower than that of the latter. In addition, we find that the performances of the parametric and non-parametric EWS do not improve if the policymaker becomes more prudent. From a policy perspective, the policymaker faces the standard trade-off when using EWS. Greater prudence allows the policymaker to correctly call more crisis episodes, but this comes at the cost of issuing more false alarms. The benefit of correctly calling more currency crises needs to be traded off against the cost of issuing more false alarms and of implementing corrective macroeconomic policies prematurely.
How long is Comparing Parametric and Non-parametric Early Warning Systems for Currency Crises in Emerging Market Economies?
Comparing Parametric and Non-parametric Early Warning Systems for Currency Crises in Emerging Market Economies by Mr.Fabio Comelli is 29 pages long, and a total of 7,511 words.
This makes it 10% the length of the average book. It also has 9% more words than the average book.
How Long Does it Take to Read Comparing Parametric and Non-parametric Early Warning Systems for Currency Crises in Emerging Market Economies Aloud?
The average oral reading speed is 183 words per minute. This means it takes and 41 minutes to read Comparing Parametric and Non-parametric Early Warning Systems for Currency Crises in Emerging Market Economies aloud.
What Reading Level is Comparing Parametric and Non-parametric Early Warning Systems for Currency Crises in Emerging Market Economies?
Comparing Parametric and Non-parametric Early Warning Systems for Currency Crises in Emerging Market Economies is suitable for students ages 8 and up.
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