Implementable Fiscal Rules for an Oil-Exporting Small Open Economy Facing Depletion.
In this paper I compute implementable scal rules for a small open economy whose treasury is dependent on oil revenues and whose oil sector is shrinking. I model production in the oil and non oil sector and I analyze the e¤ects of implementing di¤erent sustainable scal rules in the context of a deteriorating oil sector. I assess the policys performance in terms of conditional and unconditional welfare. I show that rules that nance government purchases with structural revenue are preferred ...Expand abstract
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