Oil exporters' dilemma : how much to save and how much to invest /

Oil exporters' dilemma : how much to save and how much to invest /

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Bibliographic Details
Author / Creator:	Cherif, Reda, author.
Imprint:	[Washington, D.C.] : International Monetary Fund, [2012], ©2011.
Description:	1 online resource (21 pages) : color charts.
Language:	English
Series:	IMF working paper ; WP/12/04 IMF working paper ; WP/12/04.
Subject:	Exports -- Econometric models. Petroleum -- Econometric models. Saving and investment -- Econometric models. Exports -- Econometric models. Saving and investment -- Econometric models.
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/12499939

Hidden Bibliographic Details
Varying Form of Title:	At head of title: Fiscal Affairs Department and Middle East and Central Asia Department
Other authors / contributors:	Hasanov, Fuad, 1978- author. International Monetary Fund. Fiscal Affairs Department, issuing body. International Monetary Fund. Middle East and Central Asia Department, issuing body.
ISBN:	9781463991586 1463991584 9781475502459 1475502451
Notes:	Title from PDF title page (IMF Web site, viewed January 10, 2012). "January 2012." Available in PDF, ePUB, and Mobi formats on the Internet. Includes bibliographical references (pages 19-20).
Summary:	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 2000's, 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.
Standard no.:	10.5089/9781463991586.001

Description
Summary:	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.
Item Description:	Title from PDF title page (IMF Web site, viewed January 10, 2012). "January 2012." Available in PDF, ePUB, and Mobi formats on the Internet.
Physical Description:	1 online resource (21 pages) : color charts.
Bibliography:	Includes bibliographical references (pages 19-20).
ISBN:	9781463991586 1463991584 9781475502459 1475502451