Hidden Bibliographic Details
| Other authors / contributors: | Bayoumi, Tamim A., author.
International Monetary Fund. Strategy, Policy, and Review Department.
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| ISBN: | 1451918100
9781451918106
1462366856
9781462366859
9786612844461
6612844469
1451873956
9781451873955
1282844466
9781282844469
1452731896
9781452731896
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| Digital file characteristics: | text file
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| Notes: | Includes bibliographical references (page 17).
Restrictions unspecified
Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2011.
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212
English.
digitized 2011 HathiTrust Digital Library committed to preserve
Print version record.
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| Summary: | 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.
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| Other form: | Print version: Thomas, Alun H. (Alun Huw). Today versus tomorrow. [Washington, D.C.] : International Monetary Fund, Strategy, Policy and Review Dept., 2009
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| Standard no.: | 10.5089/9781451918106.001
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