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Natural-Resource Depletion, Habit Formation, and Sustainable Fiscal Policy

Natural-Resource Depletion, Habit Formation, and Sustainable Fiscal Policy »

Source: Natural-Resource Depletion, Habit Formation, and Sustainable Fiscal Policy : Lessons from Gabon

Volume/Issue: 2006/193

Series: IMF Working Papers

Author(s): Jan-Peter Olters , and Daniel Leigh

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2006

ISBN: 9781451864533

Keywords: Sustainable fiscal policy, habit formation, permanent-income hypothesis, primary deficit, oil production, government spending, oil reserves, Macroeconomic - Aspects Of Public Finance, Macroeconomic Policy, And General Outlook

While models based on Friedman's (1957) permanent-income hypothesis can provide oilproducing countries with long-run fiscal targets, they usually abstract from short-run costs associated with consolidation. This pa...

Natural-Resource Depletion, Habit Formation, and Sustainable Fiscal Policy
			: Lessons from Gabon

Natural-Resource Depletion, Habit Formation, and Sustainable Fiscal Policy : Lessons from Gabon »

Volume/Issue: 2006/193

Series: IMF Working Papers

Author(s): Jan-Peter Olters , and Daniel Leigh

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2006

DOI: http://dx.doi.org/10.5089/9781451864533.001

ISBN: 9781451864533

Keywords: Sustainable fiscal policy, habit formation, permanent-income hypothesis, primary deficit, oil production, government spending, oil reserves, Macroeconomic - Aspects Of Public Finance, Macroeconomic Policy, And General Outlook

While models based on Friedman's (1957) permanent-income hypothesis can provide oilproducing countries with long-run fiscal targets, they usually abstract from short-run costs associated with consolidation. This pa...