Oil, National Wealth, and Current and Future Consumption Possibilities
Summary:
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.
Series:
Working Paper No. 1991/060
Subject:
Commodities Consumption Financial services Income National accounts Oil Oil prices Prices Real interest rates
Notes:
Taking Norway as a point of departure, this paper discusses the macroeconomics of exhaustible resources.
English
Publication Date:
June 1, 1991
ISBN/ISSN:
9781451965285/1018-5941
Stock No:
WPIEA0601991
Pages:
58
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