Managing and harnessing volatile oil windfalls

Three funds are necessary to manage an oil windfall: intergenerational, liquidity and investment funds. The optimal liquidity fund is bigger if the windfall lasts longer and oil price volatility, prudence and the GDP share of oil rents are high and productivity growth is low. We apply our theory to...

وصف كامل

التفاصيل البيبلوغرافية
المؤلفون الرئيسيون: Van der Ploeg, R, van den Bremer, T
التنسيق: Working paper
منشور في: University of Oxford 2012