Today versus Tomorrow.

This paper applies the Permanent Income Model to the non-oil current accounts of the major oil exporters to assess the extent to which national consumption decisions in these countries are made on the basis of permanent versus current income. A test of whether the return on oil wealth and oil balanc...

Descripción completa

Detalles Bibliográficos
Clasificación:Libro Electrónico
Autor principal: Thomas, Alun H.
Otros Autores: Bayoumi, Tamim
Formato: Electrónico eBook
Idioma:Inglés
Publicado: Washington : International Monetary Fund, 2009.
Colección:IMF Working Papers.
Temas:
Petroleum industry and trade > Econometric models.
Balance of payments > Econometric models.
Consumption (Economics) > Mathematical models.
Revenue > Econometric models.
Pétrole > Industrie et commerce > Modèles économétriques.
Balance des paiements > Modèles économétriques.
Revenus de l'État > Modèles économétriques.
Balance of payments > Econometric models
Consumption (Economics) > Mathematical models
Petroleum industry and trade > Econometric models
Revenue > Econometric models
Acceso en línea:Texto completo
Descripción
Sumario:This paper applies the Permanent Income Model to the non-oil current accounts of the major oil exporters to assess the extent to which national consumption decisions in these countries are made on the basis of permanent versus current income. A test of whether the return on oil wealth and oil balance coefficients sum to unity is accepted for all specifications that adjust the return on wealth for future population changes. For oil-exporting countries outside Africa, around half of the fluctuations in the private sector non-oil balance are driven by considerations of changes in permanent income.
Descripción Física:1 online resource (29 pages)
ISBN:9781452731896
1452731896

Ejemplares similares