The Mussa Theorem (and Other Results on IMF-Induced Moral Hazard) /
Using a simple model of international lending, we show that as long as the IMF lends at an actuarially fair interest rate and debtor governments maximize the welfare of their taxpayers, any changes in policy effort, capital flows, or borrowing costs in response to IMF crisis lending are efficient. T...
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| Diğer Yazarlar: | |
| Materyal Türü: | Dergi |
| Dil: | English |
| Baskı/Yayın Bilgisi: |
Washington, D.C. :
International Monetary Fund,
2004.
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| Seri Bilgileri: | IMF Working Papers; Working Paper ;
No. 2004/192 |
| Online Erişim: | Full text available on IMF |