What is Early Warning System

1.

An Early Warning System (EWS) is a systemic process for evaluating and measuring risks early in order to take pre-emptive steps to minimize its impact on the financial system. Learn more in: Early Warning System for Financial Crises

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A set of different approaches to detect some time before it happens a risk that could result into losses. In the banking sector, early warning systems are used to detect in advance potential failures. Learn more in: Using Self Organizing Maps for Banking Oversight: The Case of Spanish Savings Banks

3.

Or EWS , refers to the sum total of the literature canon both scholarly and applicative practitioner, the methodological approaches, and the econometric and statistical models devised, constructed, and subsequently employed to predict the onset and the evolution of systemic banking failure and of financial meltdown within a localised economy, a region, or the international system. Learn more in: Predicting Global Financial Meltdown and Systemic Banking Failure: An Assessment of Early Warning Systems (EWSs) and Their Current Relevance

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An ex ante approach to regulation, that is, one designed to highlight conditions that have in the past been associated with systemic risk. Learn more in: Building a Surveillance Framework for Currency Crises in Indonesia: Macroprudential Approach

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Statistically-based model that estimates the probability of failure or financial distress of an individual bank or banking system, over a fixed time horizon. Learn more in: Early Warning Tools for Financial System Distress: Current Drawbacks and Future Challenges

6.

Early warning system is a predictive tool used for financial crises prediction. A predictive system is designed exclusively for a specific type of financial crisis, or it can be applicable to various types of financial crises. The systems are used to predict the likelihood as well as the timing of financial crises. Learn more in: Early Warning System for Banking Crisis: Causes and Impacts

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Foresees that it is intervened in the member state being in a position of the tendency of occurrence of excessive budget deficit. Learn more in: An Investigation of the Maastricht Fiscal Criteria and the European Union's Harmonization

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A pedagogical-technological system that uses machine learning to identify at-risk students early in the course. Learn more in: Do Student-Written Responses to Reflection Questions Predict Persistence and Performance in Online Courses?: A Text Analysis Approach

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An integrated system of hazard monitoring, forecasting and prediction, disaster risk assessment, communication and preparedness activities systems and processes that enables individuals, communities, governments, businesses and others to take timely action to reduce disaster risks in advance of hazardous events ( ISDR, 2009 ). Learn more in: Managing Risk in Global Food Supply Chains: Improving Food Security and Sustainability

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Early warning system is any series of steps established to spot potential problems, and reduce their adverse effects. Learn more in: Early Warning System and Adaptation Advice to Reduce Human Health Consequences of Extreme Weather Conditions and Air Pollution

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Statistically-based model that estimates the probability of failure or financial distress of an individual bank or banking system, over a fixed time horizon. Learn more in: Developing EWS Models for Contemporary Crises Using Extreme Value Binary Models: The Cases of Eurozone and Argentinian Peso (2014)