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Oil, National Wealth, and Current and Future Consumption Possibilities

Author

Listed:
  • Gunnar Tersman

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.

Suggested Citation

  • Gunnar Tersman, 1991. "Oil, National Wealth, and Current and Future Consumption Possibilities," IMF Working Papers 1991/060, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:1991/060
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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=938
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    Citations

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    Cited by:

    1. Mr. Joseph Ntamatungiro, 2004. "Fiscal Sustainability in Heavily Indebted Countries Dependenton Nonrenewable Resources: The Case of Gabon," IMF Working Papers 2004/030, International Monetary Fund.
    2. International Monetary Fund, 2007. "Norway: Selected Issues," IMF Staff Country Reports 2007/197, International Monetary Fund.
    3. Stéphane Carcillo & Mr. Mauricio Villafuerte & Mr. Daniel Leigh, 2007. "Catch-Up Growth, Habits, Oil Depletion, and Fiscal Policy: Lessons from the Republic of Congo," IMF Working Papers 2007/080, International Monetary Fund.
    4. Leslie Shiell & Colin Busby, 2008. "Resource Revenues and Fiscal Sustainability in Alberta," Working Papers 0807E, University of Ottawa, Department of Economics.
    5. Mr. Jan-Peter Olters & Mr. Daniel Leigh, 2006. "Natural-Resource Depletion, Habit Formation, and Sustainable Fiscal Policy: Lessons from Gabon," IMF Working Papers 2006/193, International Monetary Fund.

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