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Saving Alberta's resource revenues: Role of intergenerational and liquidity funds

Abstract:

We use a welfare-based intertemporal stochastic optimization model and historical data to estimate the size of the optimal intergenerational and liquidity funds and the corresponding resource dividend available to the government of the Canadian province Alberta. To first-order of approximation, this dividend should be a constant fraction of total above- and below-ground wealth, complemented by additional precautionary savings at initial times to build up a small liquidity fund to cope with oi...

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Publication status:
Published
Peer review status:
Peer reviewed

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Publisher copy:
10.1016/j.enpol.2016.09.032

Authors


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Institution:
University of Oxford
Division:
SSD
Department:
Economics
Sub department:
OxCarre
Role:
Author
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Name:
School of Public Policy, University of Calgary
Publisher:
Elsevier
Journal:
Energy Policy More from this journal
Volume:
99
Pages:
132-146
Publication date:
2016-10-01
Acceptance date:
2016-09-13
DOI:
ISSN:
0301-4215
Keywords:
Pubs id:
pubs:657763
UUID:
uuid:6ed50afe-53fd-4672-b7c2-25908449d675
Local pid:
pubs:657763
Source identifiers:
657763
Deposit date:
2016-11-15

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