Aggressive oil extraction and precautionary saving: Coping with volatility.

Aggressive oil extraction and precautionary saving: Coping with volatility.

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The effects of stochastic oil demand on optimal oil extraction paths and tax, spending and government debt policies are analyzed when the oil demand schedule is linear and preferences quadratic. Without prudence, optimal oil extraction is governed by the Hotelling rule and optimal budgetary policies...

Полное описание

Библиографические подробности
Главный автор:	van der Ploeg, F
Формат:	Journal article
Язык:	English
Опубликовано:	Elsevier 2010

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