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Current account and precautionary savings for exporters of exhaustible resources /
Exporters of exhaustible resources have historically exhibited higher income volatility than other economies, suggesting a heightened role for precautionary savings. This paper uses a parameterized small open economy model to quantify the role of precautionary savings in economies with exhaustible r...
| Clasificación: | Libro Electrónico |
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| Autores principales: | , |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
[Washington D.C.] :
International Monetary Fund,
2009.
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| Colección: | IMF working paper ;
WP/09/33. |
| Temas: | |
| Acceso en línea: | Texto completo |
| Sumario: | Exporters of exhaustible resources have historically exhibited higher income volatility than other economies, suggesting a heightened role for precautionary savings. This paper uses a parameterized small open economy model to quantify the role of precautionary savings in economies with exhaustible resources, when the only source of uncertainty is the price of the exhaustible resource. Results show that the precautionary motive can generate sizable external sector savings. When aggregated over the sample countries, precautionary savings in 2006 add up to 3.2 percent of GDP. The quantitative imp. |
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| Descripción Física: | 1 online resource (38 pages) : illustrations |
| Bibliografía: | Includes bibliographical references. |