Journal article
Consequences of lower oil prices and stranded assets for Russia's sustainable fiscal stance
- Abstract:
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Despite substantial oil and gas revenue Russia's fiscal stance is unsustainable. Under our benchmark assumptions the permanent-income rule requires a permanent tightening of the fiscal stance by 4.6%-points of GDP. Delaying it by a decade implies that the fiscal stance needs to be tightened by a further 0.9%-point. This benchmark optimal policy ensures that depletion of oil and gas wealth is matched by an equal increase in above-ground financial wealth. Its merits are highlighted by comparing...
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- Publication status:
- Published
- Peer review status:
- Peer reviewed
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- Files:
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(Accepted manuscript, pdf, 1.1MB)
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- Publisher copy:
- 10.1016/j.enpol.2017.02.022
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Bibliographic Details
- Publisher:
- Elsevier Publisher's website
- Journal:
- Energy Policy Journal website
- Volume:
- 105
- Issue:
- C
- Pages:
- 27-40
- Publication date:
- 2017-02-21
- Acceptance date:
- 2017-02-14
- DOI:
- EISSN:
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1873-6777
- ISSN:
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0301-4215
- Source identifiers:
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686065
Item Description
- Keywords:
- Pubs id:
-
pubs:686065
- UUID:
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uuid:6fdeb636-5c6e-416b-bd50-0629760630e1
- Local pid:
- pubs:686065
- Deposit date:
- 2018-12-19
Terms of use
- Copyright holder:
- Elsevier Ltd
- Copyright date:
- 2017
- Notes:
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© 2017 Elsevier Ltd. All rights reserved.
This is the accepted manuscript version of the article. The final version is available online from Elsevier at: https://doi.org/10.1016/j.enpol.2017.02.022
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