Exchange Rate Assessment for Oil Exporters / / Klaus-Stefan Enders

• Record Nr.: UNINA9910788415903321
• Autore: Enders Klaus-Stefan
• Pubbl/distr/stampa: Washington, D.C. : , : International Monetary Fund, , 2009
• ISBN: 1-4623-0633-0; 1-4519-8323-9; 1-283-51196-7; 9786613824417; 1-4519-1663-9
• Descrizione fisica: 1 online resource (23 p.)
• Collana: IMF Working Papers
• Disciplina: 332.45
• Soggetti: Foreign exchange rates; Petroleum products - Prices; Petroleum industry and trade; Investments: Energy; Exports and Imports; Foreign Exchange; Macroeconomics; Public Finance; Exchange and Production Economies; Intertemporal Choice and Growth: General; Macroeconomics: Consumption; Saving; Wealth; Current Account Adjustment; Short-term Capital Movements; Economywide Country Studies: Asia including Middle East; Energy: General; Energy: Demand and Supply; Prices; National Government Expenditures and Related Policies: General; Investment & securities; Currency; Foreign exchange; International economics; Public finance & taxation; Oil; Real exchange rates; Current account; Oil prices; Expenditure; Commodities; Balance of payments; Expenditures, Public; Saudi Arabia
• Lingua di pubblicazione: Inglese
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Note generali: Description based upon print version of record.
• Nota di bibliografia: Includes bibliographical references.
• Nota di contenuto: Contents; I. Overview; II. The Model; III. Market Clearing; IV. Comparative Statics; Chart; GCC Selected Indicators; V. Private Consumption and Saving; VI. External Equilibrium; Appendix I; References
• Sommario/riassunto: While the underlying methodologies continue to be widely debated and refined, there is little consensus on how to assess the equilibrium exchange rate of economies dominated by production of finite natural resources such as the oil economies of the Middle East. In part this is due to the importance of intertemporal aspects (as the real exchange rate may affect the optimal/equitable rate of transformation of finite resource wealth into financial assets), as well as risk considerations given the relatively high volatility of commodity prices. The paper illustrates some important peculiarities of the exchange rate assessment for such natural resource producers by working through a simple two-period model that captures certain key aspects of many resource economies.