Oil, National Wealth, and Current and Future Consumption Possibilities [electronic resource] / Gunnar Tersman.
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TextSeries: IMF Working Papers; Working Paper ; No. 91/60Publication details: Washington, D.C. : International Monetary Fund, 1991Description: 1 online resource (58 p.)ISBN: 1451965281 :ISSN: 1018-5941Subject(s): Budget Constraint | Fiscal Policy | Future Consumption | Permanent Income | Real Interest Rate | NorwayAdditional physical formats: Print Version:: Oil, National Wealth, and Current and Future Consumption PossibilitiesOnline resources: IMF e-Library | IMF Book Store Abstract: This paper offers a discussion about the macroeconomics of exhaustible resources. In a resource-based economy, long-term sustainability is an obvious issue. This paper outlines some ideas on how to treat issues related to exhaustible resources in a macroeconomic context. Based on a small dynamic general equilibrium model, the approach is demonstrated with the help of some simple numerical examples.
This paper offers a discussion about the macroeconomics of exhaustible resources. In a resource-based economy, long-term sustainability is an obvious issue. This paper outlines some ideas on how to treat issues related to exhaustible resources in a macroeconomic context. Based on a small dynamic general equilibrium model, the approach is demonstrated with the help of some simple numerical examples.
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