01792cas a2200253 a 4500 AALejournalIMF002250 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451875638 1018-5941 BD-DhAAL BD-DhAAL Zettelmeyer, Jeromin. 'Original Sin,' Balance Sheet Crises, and the Roles of International Lending / Jeromin Zettelmeyer, Olivier Jeanne. Washington, D.C. : International Monetary Fund, 2002. 1 online resource (27 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students We present a stylized framework which encompasses a variety of "balance sheet approaches" to currency crises that have been suggested in the literature, and analyze their policy implications. The common theme is that currency and maturity mismatches in private sector balance sheets constrain the capacity of monetary and fiscal policies to deal with self-fulfilling capital account crises, and generate a role for international crisis lending. International lending could be used to back domestic last-resort lending to banks, or to loosen fiscal constraints. Provided they have a sound fiscal position in normal times, this can make countries immune to self-fulfilling crises. Mode of access: Internet Jeanne, Olivier. IMF Working Papers; Working Paper ; No. 2002/234 Full text available on IMF http://elibrary.imf.org/view/journals/001/2002/234/001.2002.issue-234-en.xml IMF e-Library