|
|
|
|
| LEADER |
02508cas a2200277 a 4500 |
| 001 |
AALejournalIMF013628 |
| 008 |
230101c9999 xx r poo 0 0eng d |
| 020 |
|
|
|c 5.00 USD
|
| 020 |
|
|
|z 9781484321379
|
| 022 |
|
|
|a 1018-5941
|
| 040 |
|
|
|a BD-DhAAL
|c BD-DhAAL
|
| 100 |
1 |
|
|a Basu, Suman.
|
| 245 |
1 |
4 |
|a The Macroeconomic Effects of Natural Resource Extraction :
|b Applications to Papua New Guinea /
|c Suman Basu, Jan Gottschalk, Werner Schule, Nikhil Vellodi.
|
| 264 |
|
1 |
|a Washington, D.C. :
|b International Monetary Fund,
|c 2013.
|
| 300 |
|
|
|a 1 online resource (37 pages)
|
| 490 |
1 |
|
|a IMF Working Papers
|
| 500 |
|
|
|a <strong>Off-Campus Access:</strong> No User ID or Password Required
|
| 500 |
|
|
|a <strong>On-Campus Access:</strong> No User ID or Password Required
|
| 506 |
|
|
|a Electronic access restricted to authorized BRAC University faculty, staff and students
|
| 520 |
3 |
|
|a To investigate the effects on Papua New Guinea's economy of substantial liquified natural gas revenues arriving in 2015, we employ a model to examine the macroeconomic effects of a scalingup of natural resource windfall revenues and the implications for a variety of policy responses. The model is a multi-sector dynamic stochastic general equilibrium (DSGE) model, and features components that allow for a detailed study of the effects of both fiscal and monetary policy in response to a positive shock to the mineral resource value of a country. The model contains tradable, non-tradable, and mining sectors, as well as an independent central bank and fiscal authority. We calibrate the model to the current economy of Papua New Guinea and run a suite of policy simulations. We find that macroeconomic effects from a resource boom typically associated with Dutch Disease effects such as a real appreciation and a fall in tradable sector production stem largely from the non-tradable component of government spending. The central bank can offset the real appreciation, but not without crowding out the private sector. A sovereign wealth fund (SWF), combined with a smooth capital spending path, entails the best means of dealing with macroeconomic volatility and maintaining a stable fiscal regime.
|
| 538 |
|
|
|a Mode of access: Internet
|
| 700 |
1 |
|
|a Gottschalk, Jan.
|
| 700 |
1 |
|
|a Schule, Werner.
|
| 700 |
1 |
|
|a Vellodi, Nikhil.
|
| 830 |
|
0 |
|a IMF Working Papers; Working Paper ;
|v No. 2013/138
|
| 856 |
4 |
0 |
|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2013/138/001.2013.issue-138-en.xml
|z IMF e-Library
|