Journal article icon

Journal article

Consequences of lower oil prices and stranded assets for Russia's sustainable fiscal stance

Abstract:

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...

Expand abstract
Publication status:
Published
Peer review status:
Peer reviewed
Version:
Accepted manuscript

Actions


Access Document


Files:
Publisher copy:
10.1016/j.enpol.2017.02.022

Authors


More by this author
Institution:
University of Oxford
Division:
Social Sciences Division
Department:
Economics
Oxford college:
New College
Role:
Author
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:
1873-6777
ISSN:
0301-4215
Pubs id:
pubs:686065
URN:
uri:6fdeb636-5c6e-416b-bd50-0629760630e1
UUID:
uuid:6fdeb636-5c6e-416b-bd50-0629760630e1
Local pid:
pubs:686065
Paper number:
C

Terms of use


Metrics


Views and Downloads






If you are the owner of this record, you can report an update to it here: Report update to this record

TO TOP