DREHER, AXEL; VAUBEL, ROLAND - In: Emerging Markets Finance and Trade 40 (2004) 3, pp. 26-54
We develop a public choice model of the International Monetary Fund (IMF) in which credit and conditionality are simultaneously determined by the demand for, and supply of, IMF credit. A graphical analysis illustrates the comparative statics in response to various shocks. We apply the model to...
