Consumption Smoothing and Shock Persistence : Optimal Simple Fiscal Rules for Commodity Exporters

Consumption Smoothing and Shock Persistence : Optimal Simple Fiscal Rules for Commodity Exporters

A common criticism of balanced budget fiscal rules is that they increase the consumption volatility of financially constrained households who are unable to smooth consumption. This paper evaluates the welfare consequences of simple fiscal rules in...

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Bibliographic Details
Main Authors: Mendes, Arthur, Pennings, Steven
Format: Working Paper
Language:English
en_US
Published: World Bank, Washington, DC 2017
Subjects:
FISCAL POLICY
COMMODITY EXPORTERS
COMMODITY PRICES
GOVERNMENT EXPENDITURE
PRO-CYCLICAL
ECONOMIC SHOCKS
PRECAUTIONARY SAVINGS
CONSUMPTION VOLATILITY
SOVEREIGN WEALTH FUND
WINDFALL REVENUES
Online Access:http://documents.worldbank.org/curated/en/384311493124785251/Consumption-smoothing-and-shock-persistence-optimal-simple-fiscal-rules-for-commodity
http://hdl.handle.net/10986/26472

Internet

http://documents.worldbank.org/curated/en/384311493124785251/Consumption-smoothing-and-shock-persistence-optimal-simple-fiscal-rules-for-commodity
http://hdl.handle.net/10986/26472

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