LEADER 05379oam 22013814 450 001 9910788415903321 005 20230721050854.0 010 $a1-4623-0633-0 010 $a1-4519-8323-9 010 $a1-283-51196-7 010 $a9786613824417 010 $a1-4519-1663-9 035 $a(CKB)3360000000443435 035 $a(EBL)1605899 035 $a(SSID)ssj0000944025 035 $a(PQKBManifestationID)11524002 035 $a(PQKBTitleCode)TC0000944025 035 $a(PQKBWorkID)10983286 035 $a(PQKB)11507415 035 $a(MiAaPQ)EBC1605899 035 $a(Au-PeEL)EBL1605899 035 $a(CaPaEBR)ebr10368582 035 $a(CaONFJC)MIL382441 035 $a(OCoLC)645479105 035 $a(IMF)WPIEE2009081 035 $a(EXLCZ)993360000000443435 100 $a20020129d2009 uf 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aExchange Rate Assessment for Oil Exporters /$fKlaus-Stefan Enders 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2009. 215 $a1 online resource (23 p.) 225 1 $aIMF Working Papers 300 $aDescription based upon print version of record. 311 $a1-4518-7228-3 320 $aIncludes bibliographical references. 327 $aContents; 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 330 3 $aWhile the underlying methodologies continue to be widely debated and refined, there is little consensus on how to assess the equilibrium exchange rate of economies dominated by production of finite natural resources such as the oil economies of the Middle East. In part this is due to the importance of intertemporal aspects (as the real exchange rate may affect the optimal/equitable rate of transformation of finite resource wealth into financial assets), as well as risk considerations given the relatively high volatility of commodity prices. The paper illustrates some important peculiarities of the exchange rate assessment for such natural resource producers by working through a simple two-period model that captures certain key aspects of many resource economies. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2009/081 606 $aForeign exchange rates 606 $aPetroleum products$xPrices 606 $aPetroleum industry and trade 606 $aInvestments: Energy$2imf 606 $aExports and Imports$2imf 606 $aForeign Exchange$2imf 606 $aMacroeconomics$2imf 606 $aPublic Finance$2imf 606 $aExchange and Production Economies$2imf 606 $aIntertemporal Choice and Growth: General$2imf 606 $aMacroeconomics: Consumption$2imf 606 $aSaving$2imf 606 $aWealth$2imf 606 $aCurrent Account Adjustment$2imf 606 $aShort-term Capital Movements$2imf 606 $aEconomywide Country Studies: Asia including Middle East$2imf 606 $aEnergy: General$2imf 606 $aEnergy: Demand and Supply$2imf 606 $aPrices$2imf 606 $aNational Government Expenditures and Related Policies: General$2imf 606 $aInvestment & securities$2imf 606 $aCurrency$2imf 606 $aForeign exchange$2imf 606 $aInternational economics$2imf 606 $aPublic finance & taxation$2imf 606 $aOil$2imf 606 $aReal exchange rates$2imf 606 $aCurrent account$2imf 606 $aOil prices$2imf 606 $aExpenditure$2imf 606 $aCommodities$2imf 606 $aBalance of payments$2imf 606 $aPetroleum industry and trade$2imf 606 $aExpenditures, Public$2imf 607 $aSaudi Arabia$2imf 615 0$aForeign exchange rates. 615 0$aPetroleum products$xPrices. 615 0$aPetroleum industry and trade. 615 7$aInvestments: Energy 615 7$aExports and Imports 615 7$aForeign Exchange 615 7$aMacroeconomics 615 7$aPublic Finance 615 7$aExchange and Production Economies 615 7$aIntertemporal Choice and Growth: General 615 7$aMacroeconomics: Consumption 615 7$aSaving 615 7$aWealth 615 7$aCurrent Account Adjustment 615 7$aShort-term Capital Movements 615 7$aEconomywide Country Studies: Asia including Middle East 615 7$aEnergy: General 615 7$aEnergy: Demand and Supply 615 7$aPrices 615 7$aNational Government Expenditures and Related Policies: General 615 7$aInvestment & securities 615 7$aCurrency 615 7$aForeign exchange 615 7$aInternational economics 615 7$aPublic finance & taxation 615 7$aOil 615 7$aReal exchange rates 615 7$aCurrent account 615 7$aOil prices 615 7$aExpenditure 615 7$aCommodities 615 7$aBalance of payments 615 7$aPetroleum industry and trade 615 7$aExpenditures, Public 676 $a332.45 700 $aEnders$b Klaus-Stefan$01546591 801 0$bDcWaIMF 906 $aBOOK 912 $a9910788415903321 996 $aExchange Rate Assessment for Oil Exporters$93802295 997 $aUNINA