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Fiscal Policy Rules for Oil-Producing Countries

Fiscal Policy Rules for Oil-Producing Countries »

Source: Fiscal Policy Rules for Oil-Producing Countries : A Welfare-Based Assessment

Volume/Issue: 2009/126

Series: IMF Working Papers

Author(s): Wojciech Maliszewski

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2009

ISBN: 9781451872736

Keywords: nonrenewable resource, oil producers, oil, permanent income, social welfare, welfare function, social welfare function, welfare functions, social welfare functions,

The paper presents numerical simulations of various fiscal rules for oil-producing countries. Welfare implications are sensitive to the choice of the social welfare function, initial conditions, and non-oil growth...

Policy Reform, Shadow Prices, and Market Prices

Policy Reform, Shadow Prices, and Market Prices »

Source: Policy Reform, Shadow Prices, and Market Prices

Volume/Issue: 1988/91

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 October 1988

ISBN: 9781451951608

Keywords: shadow prices, unemployment, social welfare function, social welfare

How should possible policy reforms and projects be assessed when prices give misleading signals? Revenues and costs at market prices then give distorted measures of social gains and losses and our appraisal should...

Fiscal Policy Rules for Oil-Producing Countries
			: A Welfare-Based Assessment

Fiscal Policy Rules for Oil-Producing Countries : A Welfare-Based Assessment »

Volume/Issue: 2009/126

Series: IMF Working Papers

Author(s): Wojciech Maliszewski

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2009

DOI: http://dx.doi.org/10.5089/9781451872736.001

ISBN: 9781451872736

Keywords: nonrenewable resource, oil producers, oil, permanent income, social welfare, welfare function, social welfare function, welfare functions, social welfare functions,

The paper presents numerical simulations of various fiscal rules for oil-producing countries. Welfare implications are sensitive to the choice of the social welfare function, initial conditions, and non-oil growth...

Policy Reform, Shadow Prices, and Market Prices

Policy Reform, Shadow Prices, and Market Prices »

Volume/Issue: 1988/91

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 October 1988

DOI: http://dx.doi.org/10.5089/9781451951608.001

ISBN: 9781451951608

Keywords: shadow prices, unemployment, social welfare function, social welfare

How should possible policy reforms and projects be assessed when prices give misleading signals? Revenues and costs at market prices then give distorted measures of social gains and losses and our appraisal should...

Social Welfare and Cost Recovery in Two-Sided Markets

Social Welfare and Cost Recovery in Two-Sided Markets »

Source: Social Welfare and Cost Recovery in Two-Sided Markets

Volume/Issue: 2005/194

Series: IMF Working Papers

Author(s): Wilko Bolt , and Alexander Tieman

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2005

ISBN: 9781451862133

Keywords: Two-sided markets, social optimum, cost recovery, operational losses, pricing, social welfare, prices, payment systems, demand functions, Market Structure

Using a simple model of two-sided markets, we show that, in the social optimum, platform pricing leads to an inherent cost recovery problem. This result is driven by the positive externality of participation that u...

Social Welfare and Cost Recovery in Two-Sided Markets

Social Welfare and Cost Recovery in Two-Sided Markets »

Volume/Issue: 2005/194

Series: IMF Working Papers

Author(s): Wilko Bolt , and Alexander Tieman

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2005

DOI: http://dx.doi.org/10.5089/9781451862133.001

ISBN: 9781451862133

Keywords: Two-sided markets, social optimum, cost recovery, operational losses, pricing, social welfare, prices, payment systems, demand functions, Market Structure

Using a simple model of two-sided markets, we show that, in the social optimum, platform pricing leads to an inherent cost recovery problem. This result is driven by the positive externality of participation that u...