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This paper presents an analytical framework for considering the role of IMF-supported programs in...

We introduce local and foreign investors in a simple model of speculative attacks. Local...

The paper shows that a coinsurance arrangement among countries can, in principle, play a useful...

This paper articulates a logical foundation-drawn from disparate literatures-for understanding...

This paper presents a dynamic game of strategic delegation between a principal and an agent. The...

The paper uses finance and agency theory to establish two main propositions: First, that the...