"This book provides a comprehensive economic and historical account of the evolution of the economy of Dubai since the foundation of the United Arab Emirates in 1971. It focuses on its transformations and experiences and the roles played by government policies and private sector...

This paper evaluates from a welfare perspective three policy alternatives for dealing with Dutch disease problems originating from cyclical movements in commodity prices: fiscal rules for government expenditures, capital controls, and taxes on domestic lending. A DSGE model of a small open...

We study the response of a three-sector commodity-exporter small open economy to a commodity price boom. When the economy has access to international borrowing and lending, a temporary commodity price boom brings about the standard wealth effect that stimulates demand and has long-run...