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Optimal Fiscal Strategy for Oil Exporting Countries

Optimal Fiscal Strategy for Oil Exporting Countries »

Source: Optimal Fiscal Strategy for Oil Exporting Countries

Volume/Issue: 2000/118

Series: IMF Working Papers

Author(s): Rodrigo Valdes , and Eduardo Engel

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2000

ISBN: 9781451854077

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...

Nominal Exchange Rate Anchoring Under Inflation Inertia

Nominal Exchange Rate Anchoring Under Inflation Inertia »

Source: Nominal Exchange Rate Anchoring Under Inflation Inertia

Volume/Issue: 2002/30

Series: IMF Working Papers

Author(s): Guillermo Calvo , Michael Kumhof , and Oya Celasun

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2002

ISBN: 9781451844924

Keywords: Inflation inertia, staggered pricing, exchange rate based stabilization, inflation rate, monetary economics, relative price, Open Economy Macroeconomics,

This paper develops a theory of inflation inertia based on forward looking staggered price setting in the nontradable goods sector of a small open economy. Unlike current theories of sticky prices, transitions to a...

Macroeconomic Stability in Resource-Rich Countries

Macroeconomic Stability in Resource-Rich Countries »

Source: Macroeconomic Stability in Resource-Rich Countries

Volume/Issue: 2016/36

Series: IMF Working Papers

Author(s): Elva Bova , Paulo Medas , and Tigran Poghosyan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 February 2016

ISBN: 9781475596465

Keywords: resource-rich countries, procyclical fiscal policy, commodity, prices, price, fiscal policy, General, Models with Panel Data, All Countries,, Natural resources

Resource-rich countries face large and persistent shocks, especially coming from volatile commodity prices. Given the severity of the shocks, it would be expected that these countries adopt countercyclical fiscal p...

Review of the Experience with Oil Stabilization and Savings Funds in Selected Countries12

Review of the Experience with Oil Stabilization and Savings Funds in Selected Countries12 »

Source: 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

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...

Cyclical Fiscal Rules for Oil-Exporting Countries

Cyclical Fiscal Rules for Oil-Exporting Countries »

Source: Cyclical Fiscal Rules for Oil-Exporting Countries

Volume/Issue: 2013/229

Series: IMF Working Papers

Author(s): Stephen Snudden

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 November 2013

ISBN: 9781475514018

Keywords: Fiscal policy rules, countercyclical fiscal policy, macroeconomic policy, oil price, oil, fiscal rule, fiscal authority, tax revenues, Comparative or Joint Analysis of Fiscal and Monetary or Stabilization Policy, Open Economy Macroeconomics

Structural budget-balance rules with countercyclical elements appear well suited to stabilize the macroeconomic volatility of oil-exporting countries and have been used successfully by other commodity exporters. Us...

Banca central en Am�rica Latina

Banca central en Am�rica Latina »

Source: Banca central en América Latina : El camino hacia adelante

Volume/Issue: 2016/197

Series: IMF Working Papers

Author(s): Yan Carriere-Swallow , Luis I. Jacome H. , Nicolas Magud , and Alejandro Werner

Publisher: CEMLA/Centro de Estudios Monetarios Latinamericano

Publication Date: 31 July 2018

Language: Spanish

ISBN: 9781484343241

Keywords: Argentina, Bolivia, Central bank autonomy, Central banks, Chile, Colombia, Brazil, Ecuador, Financial stability, Intervention

Los bancos centrales de América Latina han avanzado considerablemente en la creación de un entorno de estabilidad de precios que propicie el crecimiento económico sostenible. Examinamos estos logros y analizamos lo...

Optimal Fiscal Strategy for Oil Exporting Countries

Optimal Fiscal Strategy for Oil Exporting Countries »

Volume/Issue: 2000/118

Series: IMF Working Papers

Author(s): Rodrigo Valdes , and Eduardo Engel

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2000

DOI: http://dx.doi.org/10.5089/9781451854077.001

ISBN: 9781451854077

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...

Nominal Exchange Rate Anchoring Under Inflation Inertia

Nominal Exchange Rate Anchoring Under Inflation Inertia »

Volume/Issue: 2002/30

Series: IMF Working Papers

Author(s): Guillermo Calvo , Michael Kumhof , and Oya Celasun

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2002

DOI: http://dx.doi.org/10.5089/9781451844924.001

ISBN: 9781451844924

Keywords: Inflation inertia, staggered pricing, exchange rate based stabilization, inflation rate, monetary economics, relative price, Open Economy Macroeconomics,

This paper develops a theory of inflation inertia based on forward looking staggered price setting in the nontradable goods sector of a small open economy. Unlike current theories of sticky prices, transitions to a...

Macroeconomic Stability in Resource-Rich Countries

Macroeconomic Stability in Resource-Rich Countries »

Volume/Issue: 2016/36

Series: IMF Working Papers

Author(s): Elva Bova , Paulo Medas , and Tigran Poghosyan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 February 2016

DOI: http://dx.doi.org/10.5089/9781475596465.001

ISBN: 9781475596465

Keywords: resource-rich countries, procyclical fiscal policy, commodity, prices, price, fiscal policy, General, Models with Panel Data, All Countries,, Natural resources

Resource-rich countries face large and persistent shocks, especially coming from volatile commodity prices. Given the severity of the shocks, it would be expected that these countries adopt countercyclical fiscal p...

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...