UID:
almafu_9958091097402883
Umfang:
1 online resource (24 p.)
ISBN:
9781463986957
,
1463986955
,
9781463986940
,
1463986947
Serie:
IMF Working Papers
Inhalt:
Policymakers in oil-exporting countries confront the question of how to allocate oil revenues among consumption, saving, and investment in the face of high income volatility. We study this allocation problem in a precautionary saving and investment model under uncertainty. Consistent with data in the 2000s, precautionary saving is sizable and the marginal propensity to consume out of permanent shocks is below one, in stark contrast to the predictions of the perfect foresight model. The optimal investment rate is high if productivity in the tradable sector is high enough.
Anmerkung:
Description based upon print version of record.
,
""Cover""; ""Contents""; ""I. Introduction""; ""II. The Silo Model of Oil Exporters""; ""III. Model Results and Implications""; ""IV. Concluding Remarks""; ""Tables""; ""1. Optimal Investment Rates with Different Productivity Parameters""; ""2. Statistics Based on Government Revenue, Expenditure, and Public Investment""; ""Figures""; ""1. Volatility and Saving (1970-2008 Averages)""; ""2. Investment and Saving (1970-2008 Averages)""; ""3. Investment, Saving, and Real Oil Price for a Group of Oil Exporters""
,
""4. Simulated Time Paths of Average Consumption and Income with 80 Percent Confidence Bands and Perfect Foresight Consumption at Average Income""""5. Consumption and ""Cash-on-Hand"" (SWF) at Optimal (15 Percent) and Higher (20 Percent) Investment Rates""; ""References""; ""Appendix Table""; ""Average Investment, Saving, and Volatility (1970-2008)""
,
English
Weitere Ausg.:
ISBN 9781463991586
Weitere Ausg.:
ISBN 1463991584
Weitere Ausg.:
ISBN 9781475502459
Weitere Ausg.:
ISBN 1475502451
Sprache:
Englisch
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