TY  - BOOK
AU  - Thomas,Alun H.
AU  - Bayoumi,Tamim
TI  - Today Versus tomorrow: The Sensitivity of the Non-Oil Current Account Balance to Permanent and Current Income
T2  - IMF Working Papers
SN  - 9781452731896
AV  - HD9560.5 -- .T466 2009eb 
U1  - 336.02 
PY  - 2009///
CY  - Washington
PB  - International Monetary Fund
KW  - Balance of payments -- Econometric models
KW  - Consumption (Economics) -- Mathematical models
KW  - Petroleum industry and trade -- Econometric models
KW  - Revenue -- Econometric models
KW  - Electronic books
N1  - Intro -- Contents -- I. Introduction -- II. Theoretical Considerations -- III. Data Analysis -- IV. Estimation -- A. Non-oil Current Account Balance -- B. Non-oil Fiscal Balance -- C. Public and Private Sectors -- V. Conclusion -- Tables -- 1. Determinants of Non- oil Current Account -- 2. Determinants of the Non-oil Fiscal Balance -- 3. Determinants of Non-oil Current Account -- Figures -- 1. Regional Non-Oil  Current Accounts -- 2. Regional Non-Oil Fiscal Deficits -- References
N2  - This paper applies the Permanent Income Model to the non-oil current accounts of the major oil exporters to assess the extent to which national consumption decisions in these countries are made on the basis of permanent versus current income. A test of whether the return on oil wealth and oil balance coefficients sum to unity is accepted for all specifications that adjust the return on wealth for future population changes. For oil-exporting countries outside Africa, around half of the fluctuations in the private sector non-oil balance are driven by considerations of changes in permanent income (the return on oil wealth) rather than current income. By contrast, for the public sector and African countries permanent income has little or no effect
UR  - https://ebookcentral.proquest.com/lib/buse-ebooks/detail.action?docID=1605964
ER  -