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|z 9781475503333
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|a Samake, Issouf.
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|a Commodity Price Shocks and Fiscal Outcomes /
|c Issouf Samake, Nikola Spatafora.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2012.
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|a 1 online resource (48 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 The experience of developing countries over 1990-2010 indicates that commodity prices have a significant impact on fiscal outcomes. Both revenue and expenditure rise in response to commodity (import or export) price increases; the response of the fiscal deficit is ambiguous. A floating exchange rate regime only partially offsets the impact; foreign-exchange reserves do not dampen the effects. Hence, there is a strong case for fiscal hedging against commodity price shocks. Hedging instruments based on a limited set of benchmark world prices for a narrow set of commodities may suffice to realize most of the potential benefits.
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|a Mode of access: Internet
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|a Spatafora, Nikola.
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|a IMF Working Papers; Working Paper ;
|v No. 2012/112
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2012/112/001.2012.issue-112-en.xml
|z IMF e-Library
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