Series: IMF Working Papers
Author(s): Jeronimo Zettelmeyer , Jonathan Ostry , and Olivier Jeanne
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 October 2008
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 com...