Series: IMF Working Papers
Author(s): Wojciech Maliszewski
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 June 2009
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...