IDEAS home Printed from https://ideas.repec.org/p/ham/qmwops/20011.html
   My bibliography  Save this paper

Paper tigers? A model of the Asian crisis: Comment

Author

Listed:
  • Nikolaus A. Siegfried
  • Vera Zitzmann

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.

Suggested Citation

  • Nikolaus A. Siegfried & Vera Zitzmann, 2000. "Paper tigers? A model of the Asian crisis: Comment," Quantitative Macroeconomics Working Papers 20011, Hamburg University, Department of Economics.
    • Handle: RePEc:ham:qmwops:20011
    as

    Download full text from publisher

    File URL: http://www.rrz.uni-hamburg.de/wst/nas/papertiger.pdf
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    Moral hazard; Balance of payment crisis; International lending; Speculative attacks; Asia;
    All these keywords.

    JEL classification:

    • F31 - International Economics - - International Finance - - - Foreign Exchange
    • F34 - International Economics - - International Finance - - - International Lending and Debt Problems
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ham:qmwops:20011. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: the person in charge (email available below). General contact details of provider: https://edirc.repec.org/data/imhamde.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.