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Fiscal Policy and Business Cycles in an Oil-Producing Economy

Fiscal Policy and Business Cycles in an Oil-Producing Economy »

Source: Fiscal Policy and Business Cycles in an Oil-Producing Economy : The Case of Venezuela

Volume/Issue: 2005/237

Series: IMF Working Papers

Author(s): Alfredo Baldini

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2005

ISBN: 9781451862560

Keywords: Macroeconomic Volatility, fiscal outcomes, fiscal stance, expenditures, expenditure, Fiscal Policies and Behavior of Economic Agents: General, Nonrenewable Resources and Conservation: Government Policy, Venezuela, Republica Bolivariana De,

This paper analyzes the fiscal policy in Venezuela during 1991-2003, by using a number of statistical approaches to analyze trends and cycles of economic output and fiscal outcomes. The business cycle features a st...

Fiscal Sustainability with Non-Renewable Resources1

Fiscal Sustainability with Non-Renewable Resources1 »

Source: Fiscal Sustainability with Non-Renewable Resources

Volume/Issue: 1998/26

Series: IMF Working Papers

Author(s): Nigel Chalk

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 1998

ISBN: 9781451844351

Keywords: Fiscal sustainability, non-renewable resource, oil producers, terms of trade, fiscal position, oil prices, fiscal policies

This paper assesses sustainable fiscal behavior in an economy where wealth is derived predominantly from a non-renewable resource. It explores the issue in a simple dynamic framework that highlights the structural...

Fiscal Policy and Business Cycles in an Oil-Producing Economy
			: The Case of Venezuela

Fiscal Policy and Business Cycles in an Oil-Producing Economy : The Case of Venezuela »

Volume/Issue: 2005/237

Series: IMF Working Papers

Author(s): Alfredo Baldini

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2005

DOI: http://dx.doi.org/10.5089/9781451862560.001

ISBN: 9781451862560

Keywords: Macroeconomic Volatility, fiscal outcomes, fiscal stance, expenditures, expenditure, Fiscal Policies and Behavior of Economic Agents: General, Nonrenewable Resources and Conservation: Government Policy, Venezuela, Republica Bolivariana De,

This paper analyzes the fiscal policy in Venezuela during 1991-2003, by using a number of statistical approaches to analyze trends and cycles of economic output and fiscal outcomes. The business cycle features a st...

Fiscal Sustainability with Non-Renewable Resources

Fiscal Sustainability with Non-Renewable Resources »

Volume/Issue: 1998/26

Series: IMF Working Papers

Author(s): Nigel Chalk

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 1998

DOI: http://dx.doi.org/10.5089/9781451844351.001

ISBN: 9781451844351

Keywords: Fiscal sustainability, non-renewable resource, oil producers, terms of trade, fiscal position, oil prices, fiscal policies

This paper assesses sustainable fiscal behavior in an economy where wealth is derived predominantly from a non-renewable resource. It explores the issue in a simple dynamic framework that highlights the structural...

Is Fiscal Policy Procyclical in Developing Oil-Producing Countries?

Is Fiscal Policy Procyclical in Developing Oil-Producing Countries? »

Volume/Issue: 2011/171

Series: IMF Working Papers

Author(s): Nese Erbil

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2011

DOI: http://dx.doi.org/10.5089/9781462314324.001

ISBN: 9781462314324

Keywords: institutions, govenment expenditure, expenditure, capital expenditure, fiscal policies, government expenditure, Fiscal Policies and Behavior of Economic Agents: General,

This paper examines the cyclicality of fiscal behavior in 28 developing oil-producing countries (OPCs) during 1990-2009. After testing five fiscal measures - government expenditure, consumption, investment, non-oil...

Oil Exporters' Dilemma
			: How Much to Save and How Much to Invest

Oil Exporters' Dilemma : How Much to Save and How Much to Invest »

Volume/Issue: 2012/4

Series: IMF Working Papers

Author(s): Reda Cherif , and Fuad Hasanov

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2012

DOI: http://dx.doi.org/10.5089/9781475502459.001

ISBN: 9781475502459

Keywords: volatility, precautionary, saving, buffer-stock, investment, oil exporters, fiscal policy, exporters, exporting countries, domestic investment

Policymakers in oil-exporting countries confront the question of how to allocate oil revenues among consumption, saving, and investment in the face of high income volatility. We study this allocation problem in a p...

Riding the Roller Coaster
			: Fiscal Policies of Nonrenewable Resource Exporters in Latin America and the Caribbean

Riding the Roller Coaster : Fiscal Policies of Nonrenewable Resource Exporters in Latin America and the Caribbean »

Volume/Issue: 2010/251

Series: IMF Working Papers

Author(s): Pablo Lopez Murphy , Mauricio Villafuerte , and Rolando Ossowski

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2010

DOI: http://dx.doi.org/10.5089/9781455209514.001

ISBN: 9781455209514

Keywords: expenditure, fiscal policies, fiscal sustainability, Structure, Scope, and Performance of Government, National Government Expenditures and Related Policies: General, National Budget, Deficit, and Debt: General

This paper analyzes recent fiscal policies of nonrenewable resource exporting countries in Latin America and the Caribbean in the context of sharp swings in resource prices. Fiscal policies were predominantly procy...

Resource Windfalls, Macroeconomic Stability and Growth
			: The Role of Political Institutions

Resource Windfalls, Macroeconomic Stability and Growth : The Role of Political Institutions »

Volume/Issue: 2011/142

Series: IMF Working Papers

Author(s): Kazim Kazimov , Kirk Hamilton , and Rabah Arezki

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2011

DOI: http://dx.doi.org/10.5089/9781455266432.001

ISBN: 9781455266432

Keywords: Commodity, macroeconomic stability, government spending, standard deviation, economic performance, Fiscal Policies and Behavior of Economic Agents: General, Multiple or Simultaneous Equation Models: Models with Panel Data,

We use a new dataset on non-resource GDP to examine the performance of commodity-exporting countries in terms of macroeconomic stability and economic growth in a panel of up to 129 countries during the period 1970-...

Review of the Experience with Oil Stabilization and Savings Funds in Selected Countries

Review of the Experience with Oil Stabilization and Savings Funds in Selected Countries »

Volume/Issue: 2000/112

Series: IMF Working Papers

Author(s): Ugo Fasano-Filho

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2000

DOI: http://dx.doi.org/10.5089/9781451853599.001

ISBN: 9781451853599

Keywords: oil stabilization fund, oil savings fund, oil exporting countries, Chile&;amp;#x2019;s copper fund, fiscal indicators, oil prices, central government fiscal, oil revenues, fiscal policy

The main purposes of this paper are to review the operational modalities and experience of oil funds currently in place in Norway, Chile (copper), the State of Alaska, Venezuela, Kuwait, and Oman, and to draw some...

Volatility and Growth in Latin America
			: An Episodic Approach

Volatility and Growth in Latin America : An Episodic Approach »

Volume/Issue: 2006/287

Series: IMF Working Papers

Author(s): Ratna Sahay , and Rishi Goyal

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2006

DOI: http://dx.doi.org/10.5089/9781451865479.001

ISBN: 9781451865479

Keywords: Growth, Volatility, Structural Reforms, Episodic Approach, fiscal policy, terms of trade, exchange rate regime, fiscal balance, trade liberalization, Econometric and Statistical Methods: Special Topics: General,

This paper compares the pattern of macroeconomic volatility in 17 Latin American countries during episodes of high and low growth since 1970, examining in particular the role of policy volatility. Macroeconomic out...