Series: IMF Working Papers
Author(s): Rodrigo Valdes , and Eduardo Engel
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 June 2000
Keywords: oil exporting countries, stabilization funds, random walk, oil prices, oil production, samples, stationary process
This paper develops simple guidelines for fiscal policy in oil producing countries, focusing on three issues: intergenerational oil distribution, precautionary saving, and adjustment costs. The paper presents a fra...