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dc.contributor.author Burnside, C
dc.date.accessioned 2010-03-09T15:34:05Z
dc.date.issued 2004-01-01
dc.identifier.citation Journal of International Economics, 2004, 62 (1), pp. 25 - 52
dc.identifier.issn 0022-1996
dc.identifier.uri http://hdl.handle.net/10161/1961
dc.description.abstract A contingent liability is a future spending commitment that is realized with some probability. International organizations emphasize the dangers of contingent liabilities when providing advice. Why? One answer is obvious-if significant contingent liabilities are realized they commit governments to substantial fiscal costs. There is a further reason: by taking on a contingent liability the government can increase the probability of the underlying shock taking place. This paper describes how the issuance of government guarantees and the methods by which they are financed affect the probability of crises taking place. It also discusses the determinants of post-crisis inflation and depreciation. © 2003 Elsevier B.V. All rights reserved.
dc.format.extent 25 - 52
dc.format.mimetype application/pdf
dc.language.iso en_US
dc.relation.ispartof Journal of International Economics
dc.relation.isversionof 10.1016/j.jinteco.2003.07.003
dc.title Currency crises and contingent liabilities
dc.type Journal Article
dc.department Economics
pubs.issue 1
pubs.organisational-group /Duke
pubs.organisational-group /Duke/Trinity College of Arts & Sciences
pubs.organisational-group /Duke/Trinity College of Arts & Sciences/Economics
pubs.publication-status Published
pubs.volume 62

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