International financial contagion and the IMF : 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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| Format: | Book |
| Language: | English |
| Published: |
[Washington, D.C.] :
International Monetary Fund, Research Department,
c2001
[Washington, D.C.] : International Monetary Fund, Research Dept., ©2001 |
| Series: | IMF working paper ;
WP/01/137 |
| Subjects: |
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| 100 | 1 | |a Clark, Peter B |q (Peter Barton), |d 1941- | |
| 245 | 1 | 0 | |a International financial contagion and the IMF : |b a theoretical framework / |c Peter Clark and Haizhou Huang |
| 260 | |a [Washington, D.C.] : |b International Monetary Fund, Research Department, |c c2001 | ||
| 260 | |a [Washington, D.C.] : |b International Monetary Fund, Research Dept., |c ©2001 | ||
| 300 | |a 1 online resource (30 pages) : |b illustrations | ||
| 300 | |a 30 p. : |b ill. ; |c 28 cm | ||
| 336 | |a text |b txt |2 rdacontent | ||
| 337 | |a computer |b c |2 rdamedia | ||
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| 490 | 1 | |a IMF working paper ; |v WP/01/137 | |
| 500 | |a Cover title | ||
| 500 | |a "September 2001"--P. [1] | ||
| 504 | |a Includes bibliographical references (p. 26-28) | ||
| 504 | |a Includes bibliographical references (pages 26-28) | ||
| 506 | |3 Use copy |f Restrictions unspecified |2 star |5 MiAaHDL | ||
| 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 | |
| 530 | |a Also available online via the World Wide Web; access restricted to licensed sites/users | ||
| 533 | |a Electronic reproduction |b [Place of publication not identified] : |c HathiTrust Digital Library, |d 2010. |5 MiAaHDL | ||
| 538 | |a Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002 |u http://purl.oclc.org/DLF/benchrepro0212 |5 MiAaHDL | ||
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| 588 | 0 | |a Print version record | |
| 610 | 7 | |a International Monetary Fund |2 fast | |
| 610 | 2 | 0 | |a International Monetary Fund |
| 610 | 2 | 6 | |a Fonds monétaire international |
| 610 | 2 | 7 | |a International Monetary Fund |2 fast |
| 650 | 0 | |a Conditionality (International relations) |x Econometric models | |
| 650 | 0 | |a Contagion (Social psychology) |x Econometric models | |
| 650 | 0 | |a Financial crises |x Econometric models | |
| 650 | 0 | |a Interest rates |x Econometric models | |
| 650 | 6 | |a Conditionnalité (Relations internationales) |x Modèles économétriques | |
| 650 | 6 | |a Contagion sociale |x Modèles économétriques | |
| 650 | 6 | |a Crises financières |x Modèles économétriques | |
| 650 | 6 | |a Taux d'intérêt |x Modèles économétriques | |
| 650 | 7 | |a Conditionality (International relations) |2 fast | |
| 650 | 7 | |a Contagion (Social psychology) |2 fast | |
| 650 | 7 | |a Econometric models |2 fast | |
| 650 | 7 | |a Financial crises |2 fast | |
| 650 | 7 | |a Financial crises |x Econometric models |2 fast | |
| 650 | 7 | |a Interest rates |x Econometric models |2 fast | |
| 700 | 1 | |a Huang, Haizhou | |
| 710 | 2 | |a International Monetary Fund |b Research Department. | |
| 776 | 0 | 8 | |i Print version: |a Clark, Peter B. (Peter Barton), 1941- |t International financial contagion and the IMF |d [Washington, D.C.] : International Monetary Fund, Research Dept., ©2001 |w (OCoLC)48179683 |
| 830 | 0 | |a IMF working paper ; |v WP/01/137 | |
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