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Oil, National Wealth, and Current and Future Consumption Possibilities

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  • Gunnar Tersman
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    Abstract

    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.

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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=938
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    Bibliographic Info

    Paper provided by International Monetary Fund in its series IMF Working Papers with number 91/60.

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    Length: 58
    Date of creation: 01 Jun 1991
    Date of revision:
    Handle: RePEc:imf:imfwpa:91/60

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    Cited by:
    1. Stéphane Carcillo & Mauricio Villafuerte & Daniel Leigh, 2007. "Catch-Up Growth, Habits, Oil Depletion, and Fiscal Policy," IMF Working Papers 07/80, International Monetary Fund.
    2. Jan-Peter Olters & Daniel Leigh, 2006. "Natural-Resource Depletion, Habit Formation, and Sustainable Fiscal Policy," IMF Working Papers 06/193, International Monetary Fund.

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