Calculating Sustainable Non-mineral Balances as Benchmarks for Fiscal Policy : The Case of Botswana /
Assuming a social welfare function that smoothes expenditure, this paper calculates a sustainability benchmark for the non-mineral balance in Botswana that is based on a notion of a "permanent income" from non-renewable resources. It is derived by constructing a hypothetical annuity from r...
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| Format: | Revue |
| Langue: | English |
| Publié: |
Washington, D.C. :
International Monetary Fund,
2008.
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| Collection: | IMF Working Papers; Working Paper ;
No. 2008/117 |
| Accès en ligne: | Full text available on IMF |