Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/1026 
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dc.contributor.authorSiebert, Horsten
dc.date.accessioned2009-01-28T14:16:38Z-
dc.date.available2009-01-28T14:16:38Z-
dc.date.issued1998-
dc.identifier.citation|nInstitut für Weltwirtschaft (IfW) |lKiel |y1998en
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.en
dc.language.isoengen
dc.publisher|aKiel Institute of World Economics (IfW) |cKielen
dc.relation.ispartofseries|aKiel Working Paper |x870en
dc.subject.jelF00en
dc.subject.jelF02en
dc.subject.jelF33en
dc.subject.jelF34en
dc.subject.ddc330en
dc.subject.stwInternationales Währungssystemen
dc.subject.stwInternationaler Krediten
dc.subject.stwMoral Hazarden
dc.subject.stwWährungskriseen
dc.subject.stwAnpassungsprogramm des IWFen
dc.subject.stwGlaubwürdigkeiten
dc.subject.stwWelten
dc.titleThe future of the IMF: how to prevent the next global financial crisis-
dc.typeWorking Paperen
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:ifwkwp:870en
dc.identifier.printppn247314935en
dc.date.issuedonline2009en
dc.publisher.online|aZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften, Leibniz-Informationszentrum Wirtschaft |cKiel, Hamburgen
econstor.documentversionDigitized Versionen
econstor.citation.publisherInstitut für Weltwirtschaft (IfW)en
econstor.citation.publisherplaceKielen
econstor.citation.year1998en

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