Fiscal Policy Rules for Oil-Producing Countries.

The paper presents numerical simulations of various fiscal rules for oil-producing countries. Welfare implications are sensitive to the choice of the social welfare function, initial conditions, and non-oil growth prospects. The distribution of non-oil wealth is important for countries with relative...

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Detalles Bibliográficos
Clasificación:Libro Electrónico
Autor principal: Maliszewski, Wojciech
Formato: Electrónico eBook
Idioma:Inglés
Publicado: Washington : International Monetary Fund, 2009.
Colección:IMF Working Papers.
Temas:
Petroleum industry and trade > Economic aspects.
Fiscal policy.
Pétrole > Industrie et commerce > Aspect économique.
Politique fiscale.
Fiscal policy
Petroleum industry and trade > Economic aspects
Acceso en línea:Texto completo

MARC

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100 1 |a Maliszewski, Wojciech. 
245 1 0 |a Fiscal Policy Rules for Oil-Producing Countries. 
260 |a Washington :  |b International Monetary Fund,  |c 2009. 
300 |a 1 online resource (29 pages) 
336 |a text  |b txt  |2 rdacontent 
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490 1 |a IMF Working Papers 
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505 0 |a I. Introduction; II. Fiscal Rules for OPCs; A. Optimizing Rules; B. Ad hoc Rules; III. Numerical Comparisons; A. Setup and Assumptions; B. Results; Tables; 1. Initial Conditions; 2. Model Parameters; 3. Comparison of Policy Rules (Baseline); 4. Comparison of Policy Rules (Alternative Specification for the Oil Price Process); Figures; 1. PIM and POIM Rules for the Mature Oil Producer; 2. PIM and POIM Rules for the Large Oil Producer; 3. PIM and POIM Rules for the Medium Oil Producer; 4. POIM and MPOIM Rules for the Mature Oil Producer. 
505 8 |a 5. POIM and MPOIM Rules for the Large Oil Producer6. POIM and MPOIM Rules for the Medium Oil Producer; 7. MPOIM and ad hoc Rules for the Mature Oil Producer; 8. MPOIM and ad hoc Rules for the Large Oil Producer; 9. MPOIM and ad hoc Rules for the Medium Oil Producer; IV. Conclusions; References. 
520 |a The paper presents numerical simulations of various fiscal rules for oil-producing countries. Welfare implications are sensitive to the choice of the social welfare function, initial conditions, and non-oil growth prospects. The distribution of non-oil wealth is important for countries with relatively low oil reserves. Corrections for adjustment costs and uncertainty with respect to oil prices should be applied carefully. While avoiding sharp changes in the fiscal policy stance may be appealing, it is not necessarily optimal if the initial position is unsustainable. Ad hoc rules are shown to p. 
590 |a ProQuest Ebook Central  |b Ebook Central Academic Complete 
650 0 |a Petroleum industry and trade  |x Economic aspects. 
650 0 |a Fiscal policy. 
650 6 |a Pétrole  |x Industrie et commerce  |x Aspect économique. 
650 6 |a Politique fiscale. 
650 7 |a Fiscal policy  |2 fast 
650 7 |a Petroleum industry and trade  |x Economic aspects  |2 fast 
776 0 8 |i Print version:  |a Maliszewski, Wojciech.  |t Fiscal Policy Rules for Oil-Producing Countries: A Welfare-Based Assessment.  |d Washington : International Monetary Fund, ©2009  |z 9781451872736 
830 0 |a IMF Working Papers. 
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