| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP7039 |
| DP7039 Labour Income Taxation, Human Capital and Growth: The Role of Child Care | |
| Alessandra Casarico; Alessandro Sommacal | |
| 发表日期 | 2008-11-10 |
| 出版年 | 2008 |
| 语种 | 英语 |
| 摘要 | We present a framework that clarifies the financial role of the IMF, the rationale for conditionality, and the conditions under which IMF-induced moral hazard can arise. In the model, traditional conditionality commits country authorities to undertake crisis resolution efforts, facilitating the return of private capital, and ensuring repayment to the IMF. Nonetheless, moral hazard can arise if there are crisis externalities across countries (contagion) or if country authorities discount crisis costs too much relative to the national social optimum, or both. Moral hazard can be avoided by making IMF lending conditional on crisis prevention efforts - "ex ante" conditionality. |
| 主题 | International Macroeconomics |
| URL | https://cepr.org/publications/dp7039 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/535876 |
| 推荐引用方式 GB/T 7714 | Alessandra Casarico,Alessandro Sommacal. DP7039 Labour Income Taxation, Human Capital and Growth: The Role of Child Care. 2008. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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