Paper tigers? A model of the Asian crisis: Comment

Nikolaus A Siegfried and Vera Zitzmann

Quantitative Macroeconomics Working Papers from Hamburg University, Department of Economics

Abstract: Corsetti, Pesetti & Roubini (1999) present a model of the Asian crisis focussed on moral hazard as a source of overinvestment. In this comment, we show that the model as stated by them does not necessarily imply moral hazard. We provide and discuss an additional assumption, which is necessary and sufficient for moral hazard to arise.

Keywords: Moral hazard; Balance of payment crisis; International lending; Speculative attacks; Asia (search for similar items in EconPapers)
JEL-codes: F31 F34 G15 G18 (search for similar items in EconPapers)
Pages: 6 pages
Date: 2000-12
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.rrz.uni-hamburg.de/wst/nas/papertiger.pdf (application/pdf)
Our link check indicates that this URL is bad, the error code is: 404 Not Found (http://www.rrz.uni-hamburg.de/wst/nas/papertiger.pdf [302 Found]--> https://www.rrz.uni-hamburg.de/wst/nas/papertiger.pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ham:qmwops:20011

Access Statistics for this paper

More papers in Quantitative Macroeconomics Working Papers from Hamburg University, Department of Economics Contact information at EDIRC.
Bibliographic data for series maintained by ().