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...

The current slowdown in the Norwegian economy has followed an exceptionally prolonged phase of expansion. The current slowdown in economic growth is expected to continue. Over the longer term, the public finances face challenges as oil revenues begin to run out and pension liabilities escalate....