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|c 5.00 USD
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|z 9781451846393
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|a 1018-5941
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|a BD-DhAAL
|c BD-DhAAL
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|a Alier, Max.
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|a Nonrenewable Resources :
|b A Case for Persistent Fiscal Surpluses /
|c Max Alier, Martin Kaufman.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 1999.
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|a 1 online resource (29 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a This paper examines whether there is a case for temporary but persistent fiscal surpluses in economies heavily endowed with nonrenewable resources. It finds that there generally is a case. Fiscal surpluses permit replacing nonfinancial wealth with financial assets, the return on which increases public consumption possibilities of future generations for a constant across-generation tax burden. The more biased are a government's preferences toward present generations, the lower will be the initial surpluses; the larger the finite endowment, the larger the initial surpluses. In a more general framework, including public investment, the proposition could be rephrased by replacing surpluses with stronger initial fiscal positions.
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|a Mode of access: Internet
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|a Kaufman, Martin.
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|a IMF Working Papers; Working Paper ;
|v No. 1999/044
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/1999/044/001.1999.issue-044-en.xml
|z IMF e-Library
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