Series: IMF Working Papers
Author(s): H. Takizawa , E. Gardner , and Kenichi Ueda
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 August 2004
Keywords: Optimal fiscal policy, transitional growth, natural resource, government spending, budget constraint, fiscal balance, private consumption, Fiscal and Monetary Policy in Development,
We question the conventional view that it is optimal for government to maintain a stable level of spending out of oil wealth. We compare this conventional policy recommendation with one where government spends all...