Arbeitspapier
The future of the IMF: how to prevent the next global financial crisis
The paper analyzes how the next financial crisis can be prevented and which role the IMF should play. The paper distinguishes between the improvement of existing instruments and solving the moral hazard problem. Both issues are interrelated. The size of operation of the IMF creates a moral hazard problem. The IMF should credibly announce the ex-post rules for bridging a liquidity gap in order to set the right ex-ante incentives for the behavior of debtors and creditors. An institutional design for dealing with private and sovereign debt analogous to national bankruptcy rules has to be developed.
- Sprache
-
Englisch
- Erschienen in
-
Year: 1998 ; Kiel: Institut für Weltwirtschaft (IfW)
- Klassifikation
-
Wirtschaft
International Economics: General
International Economic Order and Integration
International Monetary Arrangements and Institutions
International Lending and Debt Problems
- Thema
-
Internationales Währungssystem
Internationaler Kredit
Moral Hazard
Währungskrise
Anpassungsprogramm des IWF
Glaubwürdigkeit
Welt
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Siebert, Horst
- Ereignis
-
Veröffentlichung
- (wer)
-
Kiel Institute of World Economics (IfW)
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften, Leibniz-Informationszentrum Wirtschaft
- (wo)
-
Kiel
- (wann)
-
1998
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:42 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
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ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Siebert, Horst
- Kiel Institute of World Economics (IfW)
- ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften, Leibniz-Informationszentrum Wirtschaft
Entstanden
- 1998
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