International Financial Contagion and the IMF : A Theoretical Framework

A Theoretical Framework

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 vulnerability of other indebted countries, and can... READ MORE...

Publication date: September 2001
ISBN 9781451855913
$15.00

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