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...

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Bibliographische Detailangaben
1. Verfasser: Burnside, Craig (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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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)
Beschreibung:1 Online-Ressource (43, [8] Seiten) ill 28 cm

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