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dc.contributor.authorSiebert, Horsten_US
dc.date.accessioned2009-01-28T14:16:38Z-
dc.date.available2009-01-28T14:16:38Z-
dc.date.issued1998en_US
dc.identifier.urihttp://hdl.handle.net/10419/1026-
dc.description.abstractThe 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.-
dc.language.isoengen_US
dc.publisherKiel Institute for the World Economy (IfW) Kielen_US
dc.relation.ispartofseriesKiel Working Papers 870-
dc.subject.jelF00-
dc.subject.jelF02-
dc.subject.jelF33-
dc.subject.jelF34-
dc.subject.ddc330-
dc.subject.stwInternationales Währungssystemen_US
dc.subject.stwInternationaler Krediten_US
dc.subject.stwMoral Hazarden_US
dc.subject.stwWährungskriseen_US
dc.subject.stwAnpassungsprogramm des IWFen_US
dc.subject.stwGlaubwürdigkeiten_US
dc.subject.stwWelten_US
dc.titleThe future of the IMF : how to prevent the next global financial crisisen_US
dc.typeWorking Paperen_US
dc.identifier.ppn247314935en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:Kieler Arbeitspapiere, IfW
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