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Implementable Fiscal Rules for an Oil-Exporting Small Open Economy Facing Depletion.

Abstract:

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 policy’s performance in terms of conditional and unconditional welfare. I show that rules that …nance government purchases with structural revenue are preferred ...

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Anamaría Pieschacón More by this author
Volume:
19
Series:
Research Papers
Publication date:
2009-01-05
URN:
uuid:18bdfb9f-c26a-41f9-ad91-097e61a466a8
Local pid:
oai:economics.ouls.ox.ac.uk:12961
Language:
English

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