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Aggressive oil extraction and precautionary saving: Coping with volatility
van der Ploeg, Frederick - 2010
analyzed when the oil demand schedule is linear and preferences quadratic. Without prudence, optimal oil extraction is governed … brings forward oil extraction and induces a bigger government surplus. With prudence, the government depletes oil reserves …
Persistent link: https://www.econbiz.de/10010270525
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Aggressive Oil Extraction and Precautionary Saving: Coping with Volatility
Ploeg, Frederick van der - Oxford Centre for the Analysis of Resource-Rich … - 2009
debt policies are analyzed when demand for oil is linear and preferences quadratic. Without prudence, optimal oil … extraction is governed by the Hotelling rule and optimal budgetary policies by the tax smoothing principle. With prudence, the … level, prudence implies a tendency to over-predict future oil prices and reserves which induces more aggressive oil …
Persistent link: https://www.econbiz.de/10008670344
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Aggressive oil extraction and precautionary saving : coping with volatility
Ploeg, Frederick van der - 2010
analyzed when the oil demand schedule is linear and preferences quadratic. Without prudence, optimal oil extraction is governed … brings forward oil extraction and induces a bigger government surplus. With prudence, the government depletes oil reserves … rule ; tax smoothing ; prudence ; vigorous oil extraction ; precautionary saving ; taxation and under-spending ; oil price …
Persistent link: https://www.econbiz.de/10003966514
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Aggressive Oil Extraction and Precautionary Saving : Coping with Volatility
van der Ploeg, Rick - 2013
analyzed when the oil demand schedule is linear and preferences quadratic. Without prudence, optimal oil extraction is governed … brings forward oil extraction and induces a bigger government surplus. With prudence, the government depletes oil reserves …
Persistent link: https://www.econbiz.de/10013094761
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Seven Principles for Managing Resource Wealth
Wills, Samuel - Oxford Centre for the Analysis of Resource-Rich … - 2015
This paper studies how capital-scarce countries should manage volatile resource income. Existing literature recommends that capital-scarce countries invest domestically, but that volatile resource income should be saved in a foreign sovereign wealth fund. I reconcile these by combining a...
Persistent link: https://www.econbiz.de/10011276414
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Seven Principles for Managing Resource Wealth
Wills, Samuel - Department of Economics, Oxford University - 2015
This paper studies how capital-scarce countries should manage volatile resource income.  Existing literature recommends that capital-scarce countries invest domestically, but that volatile resource income should be saved in a foreign sovereign wealth fund.  I reconcile these by combining a...
Persistent link: https://www.econbiz.de/10011164423
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Fiscal sustainability in the presence of structural breaks: Does overconfidence on resource exports hurt government's ability to finance debt? Evidence from Nigeria
Jibrilla, Aliyu Alhaji - In: Cogent Economics & Finance 4 (2016) 1, pp. 1-27
The sustainability of the Nigerian fiscal deficit along with the role of the dynamics of government revenues and spending in adjusting the size of the deficit is examined using annual data from 1961 to 2014. After allowing for structural breaks, the study finds evidence of a cointegration...
Persistent link: https://www.econbiz.de/10011559215
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Fiscal sustainability in the presence of structural breaks : does overconfidence on resource exports hurt government's ability to finance debt? ; evidence from Nigeria
Alhaji Jibrilla, Aliyu - In: Cogent economics & finance 4 (2016) 1, pp. 1-27
The sustainability of the Nigerian fiscal deficit along with the role of the dynamics of government revenues and spending in adjusting the size of the deficit is examined using annual data from 1961 to 2014. After allowing for structural breaks, the study finds evidence of a cointegration...
Persistent link: https://www.econbiz.de/10011487675
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Saving Alberta's Resource Revenues: Role of Intergenerational and Liquidity Funds
van den Bremer, Ton S.; van der Ploeg, Rick - 2016
We use a welfare-based intertemporal stochastic optimization model and historical data to estimate the size of the optimal intergenerational and liquidity funds and the corresponding resource dividend available to the government of the Canadian province Alberta. To first-order of approximation,...
Persistent link: https://www.econbiz.de/10011555544
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Saving Alberta's resource revenues : role of intergenerational and liquidity funds
Bremer, Ton S. van den; Ploeg, Frederick van der - 2016
We use a welfare-based intertemporal stochastic optimization model and historical data to estimate the size of the optimal intergenerational and liquidity funds and the corresponding resource dividend available to the government of the Canadian province Alberta. To first-order of approximation,...
Persistent link: https://www.econbiz.de/10011541123