International Financial Contagion and the Fund : A Theoretical Framework /
We provide a model of contagion where countries borrow or lend for consumption smoothing at the market interest rate or a lower IMF rate. Highly indebted countries hit by large negative shocks to output will default. The resulting reduction in loanable funds raises interest rates, increases the vuln...
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| Main Author: | |
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| Other Authors: | |
| Format: | Book |
| Language: | English |
| Published: |
Washington, D.C. :
International Monetary Fund,
2001
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| Series: | IMF Working Papers ;
Working Paper No. 01/137 IMF eLibrary |
| Subjects: | |
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| 020 | |z 9781451855913 | ||
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| 040 | |a DcWaIMF |b eng | ||
| 100 | 1 | |a Clark, Peter B | |
| 245 | 1 | 0 | |a International Financial Contagion and the Fund : |b A Theoretical Framework / |c Clark, Peter B |
| 264 | 1 | |a Washington, D.C. : |b International Monetary Fund, |c 2001 | |
| 300 | |a 1 online resource (31 pages) | ||
| 336 | |a text |b txt |2 rdacontent | ||
| 337 | |a computer |b c |2 rdamedia | ||
| 338 | |a online resource |b cr |2 rdacarrier | ||
| 347 | |a text file |2 rdaft | ||
| 490 | 1 | |a IMF Working Papers ; |v Working Paper No. 01/137 | |
| 506 | |a Restricted for use by site license | ||
| 520 | 3 | |a We provide a model of contagion where countries borrow or lend for consumption smoothing at the market interest rate or a lower IMF rate. Highly indebted countries hit by large negative shocks to output will default. The resulting reduction in loanable funds raises interest rates, increases the vulnerability of other indebted countries, and can generate further rounds of defaults. In this environment the IMF can limit default and internalize the externality generated by contagion through its lending with conditionality. We characterize the IMF''s optimal lending decision in mitigating the loss in world consumption | |
| 588 | |a Description based on print version record | ||
| 650 | 4 | |a Asian crisis | |
| 650 | 4 | |a Bank runs | |
| 650 | 4 | |a Capital controls | |
| 650 | 4 | |a Capital flows | |
| 650 | 4 | |a Capital inflows | |
| 650 | 4 | |a Capital market | |
| 650 | 4 | |a Capital markets | |
| 650 | 4 | |a Conditionality | |
| 650 | 4 | |a Contagion | |
| 650 | 4 | |a Crisis lending | |
| 650 | 4 | |a Currency crises | |
| 650 | 4 | |a Current account deficits | |
| 650 | 4 | |a Debt service payments | |
| 650 | 4 | |a Debt service | |
| 650 | 4 | |a Debt servicing | |
| 650 | 4 | |a Deposit insurance | |
| 650 | 4 | |a Financial Markets and the Macroeconomy | |
| 650 | 4 | |a Financial contagion | |
| 650 | 4 | |a Financial crises | |
| 650 | 4 | |a Financial crisis | |
| 650 | 4 | |a Floating exchange rate system | |
| 650 | 4 | |a Global financial crises | |
| 650 | 4 | |a IMF | |
| 650 | 4 | |a International Lending and Debt Problems | |
| 650 | 4 | |a International Monetary Arrangements and Institutions | |
| 650 | 4 | |a International capital flows | |
| 650 | 4 | |a International capital market | |
| 650 | 4 | |a International capital markets | |
| 650 | 4 | |a International capital | |
| 650 | 4 | |a International crisis lending | |
| 650 | 4 | |a International crisis | |
| 650 | 4 | |a International financial contagion | |
| 650 | 4 | |a International financial crises | |
| 650 | 4 | |a International financial crisis | |
| 650 | 4 | |a Liquidity crisis | |
| 650 | 4 | |a Moral hazard | |
| 650 | 4 | |a Policy Coordination | |
| 650 | 4 | |a Policy Designs and Consistency | |
| 650 | 4 | |a Policy Objectives | |
| 650 | 4 | |a Pre-crisis | |
| 650 | 4 | |a Private capital flows | |
| 650 | 4 | |a Private capital market | |
| 650 | 4 | |a Private capital markets | |
| 650 | 4 | |a Private capital | |
| 650 | 4 | |a Private financing | |
| 650 | 4 | |a World capital market | |
| 650 | 4 | |a World capital markets | |
| 651 | 4 | |a Argentina | |
| 651 | 4 | |a Australia | |
| 651 | 4 | |a Brazil | |
| 651 | 4 | |a United States | |
| 700 | 1 | |a Clark, Peter B | |
| 700 | 1 | |a Huang, Haizhou | |
| 776 | 0 | 8 | |a Print Version: |z 9781451855913 |
| 830 | 0 | |a IMF Working Papers ; |v Working Paper No. 01/137 | |
| 830 | 0 | |a IMF eLibrary | |
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