Series: IMF Working Papers
Author(s): Zaijin Zhan , and Robert York
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 August 2009
Keywords: Oil reserves, permanent-income hypothesis, sustainability, primary deficit, oil-producing countries,
Over many years rises and fall of world oil prices have been repeatedly reflected in the boom-bust cycles in oil-exporting countries the world over. The recent spectacular rise and equally spectacular fall in price...