Oil, National Wealth, and Current and Future Consumption Possibilities

Author/Editor:

Gunnar Tersman

Publication Date:

June 1, 1991

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary:

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 general equilibrium model, the approach is demonstrated with the help of some simple numerical examples.

Series:

Working Paper No. 1991/060

Subject:

Commodities Consumption Financial services Income National accounts Oil Oil prices Prices Real interest rates

Notes:

Taking Norway as a point of departure, this paper discusses the macroeconomics of exhaustible resources.

English

Publication Date:

June 1, 1991

ISBN/ISSN:

9781451965285/1018-5941

Stock No:

WPIEA0601991

Pages:

58

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