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:
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

MARC

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245 1 0 |a Oil exporters' dilemma :  |b how much to save and how much to invest /  |c Reda Cherif and Fuad Hasanov. 
246 1 |i At head of title:  |a Fiscal Affairs Department and Middle East and Central Asia Department 
260 |a [Washington, D.C.] :  |b International Monetary Fund,  |c [2012], ©2011. 
300 |a 1 online resource (21 pages) :  |b color charts. 
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490 1 |a IMF working paper ;  |v WP/12/04 
500 |a Title from PDF title page (IMF Web site, viewed January 10, 2012). 
500 |a "January 2012." 
500 |a Available in PDF, ePUB, and Mobi formats on the Internet. 
520 |a 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. 
504 |a Includes bibliographical references (pages 19-20). 
650 0 |a Exports  |x Econometric models. 
650 0 |a Petroleum  |x Econometric models. 
650 0 |a Saving and investment  |x Econometric models. 
650 6 |a Exportations  |x Modèles économétriques. 
650 6 |a Pétrole  |x Modèles économétriques. 
650 7 |a Exports  |x Econometric models.  |2 fast  |0 (OCoLC)fst00918770 
650 7 |a Saving and investment  |x Econometric models.  |2 fast  |0 (OCoLC)fst01105962 
655 4 |a Electronic books. 
700 1 |a Hasanov, Fuad,  |d 1978-  |e author.  |0 http://id.loc.gov/authorities/names/no2009070142 
710 2 |a International Monetary Fund.  |b Fiscal Affairs Department,  |e issuing body.  |0 http://id.loc.gov/authorities/names/n81027435 
710 2 |a International Monetary Fund.  |b Middle East and Central Asia Department,  |e issuing body.  |0 http://id.loc.gov/authorities/names/no2004029012 
830 0 |a IMF working paper ;  |v WP/12/04.  |0 http://id.loc.gov/authorities/names/no89010263 
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