The key objective of this study is to bring into light several shortcomings of early literatures in identifying episodes of currency crises. A careful examination of the basic statistical distribution of exchange market pressure index, based on a weighting scheme proposed by...

The third generation genre of currency crises models that have been popularized following the recent crises inemerging economies give prominence to the capital account. Hence, they are also commonly referred to as 'capital crisis models'. These models provide the theoretical rationale and...