How to order
IMF Publications

Working Papers in full text
2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 All


Other research-related activities and publications of the IMF can be found at IMF Research

Free Email Notification

Receive emails when we post new items of interest to you.

Subscribe or Modify your profile



Alternative Fiscal Rules for Norway

Author/Editor: Jafarov, Etibar | Leigh, Daniel
Authorized for Distribution: October 1, 2007
Electronic Access: Free Full Text (PDF file size is 791KB)
Use the free Adobe Acrobat Reader to view this PDF file.
 
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 considers long-term fiscal policy options in Norway, the world's fifth largest oil exporter, in light of the substantial expected increase in pension outlays. It compares the current fiscal rule, which targets a (central government structural) non-oil deficit equal to 4 percent of Government Pension Fund assets, with three alternatives that save a larger share of oil revenue and accumulate more assets to pay for aging costs. It also analyzes the macroeconomic consequences of accumulating more assets, finding that the additional income generated from more assets allows lower tax rates, with positive effects on long-term output.
 
Series: Working Paper No. 07/241
Subject(s): Fiscal policy | Norway | Oil revenues | Pensions
Author's keyword(s): Fiscal rules | Norway
 
English  
    Published:   October 1, 2007        
            Format:   Paper
    Stock No:   WPIEA2007241   Pages:   30
    Price:   US$18.00
       
     
Please address any questions about this title to publications@imf.org.