In the literature on currency and banking crises it has become the standard procedure to distinguish pure currency crises, pure banking crises and combined ("twin") currency and banking crises. We show theoretically and empirically that a similar differentiation should be chosen with regard to...

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...

Empirically, currency crises are more frequently accompanied by simultaneous sovereign debt crises than by banking crises. Nevertheless the phenomenon of twin currency and debt crises has so far been treated in economic literature only sparsely. We analyse the optimal policy of a government that...

Empirically, currency crises are more frequently accompanied by sovereign debt crises than by banking crises. Nevertheless the phenomenon of twin currency and debt crises has so far been neglected in economic literature. We analyze the optimal policy of a government that may choose and combine...

While the well-known twin currency and banking crises has drawn a lot of interest a second type of twin crises, the simultaneous occurrence of currency and debt crises, has so far been neglected in the literature. The decision of a government to devalue and/or to default is closely interlinked...

Building on a benchmark sample of 78 middle-income countries and based on generalized linear model (glm) estimations we assess the risk of Belarus, Kazakhstan, Russia, and Ukraine to experience currency and / or debt crises as other emerging market economies have repeatedly done before. We find...