Prospective deficits and the Asian currency crisis:

The recent Asian currency crisis was caused by large prospective fiscal deficits associated with implicit bailout guarantees to failing banking systems. Absent the political will to raise taxes or cut spending, governments must resort to seignorage revenues to pay for the bailout of the banking syst...

Ausführliche Beschreibung

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Bibliographische Detailangaben
Hauptverfasser: Burnside, Craig 1965- (VerfasserIn), Eichenbaum, Martin S. 1954- (VerfasserIn), Rebelo, Sérgio 1959- (VerfasserIn)
Format: Elektronisch E-Book
Sprache:English
Veröffentlicht: Washington, DC World Bank, Development Research Group, Macroeconomics and Growth 1999
Schriftenreihe:Policy research working paper 2174
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Online-Zugang:Volltext
Zusammenfassung:The recent Asian currency crisis was caused by large prospective fiscal deficits associated with implicit bailout guarantees to failing banking systems. Absent the political will to raise taxes or cut spending, governments must resort to seignorage revenues to pay for the bailout of the banking system. In a world of forward-looking agents, this makes a currency crisis inevitable
Beschreibung:"September 1999"--Cover. - Includes bibliographical references (p. 40-42)
Erscheinungsjahr in Vorlageform:[1999]
Weitere Ausgabe: Burnside, Craig : Prospective deficits and the Asian currency crisis
Beschreibung:1 Online-Ressource (43, [8] Seiten) Illustrationen 28 cm