Today versus Tomorrow - The Sensitivity of the Non-Oil Current Account Balance to Permanent and Current Income / / Alun Thomas, Tamim Bayoumi

• Autore: Thomas Alun
• Pubblicazione: Washington, D.C. : , : International Monetary Fund, , 2009
• Edizione: 1st ed.
• Descrizione fisica: 17 p. : ill
• Disciplina: 336.02
• Soggetto topico: Petroleum industry and trade - Econometric models; Balance of payments - Econometric models; Consumption (Economics) - Mathematical models; Revenue - Econometric models; Investments: Energy; Exports and Imports; Macroeconomics; Energy: General; Fiscal Policy; Macroeconomics: Consumption; Saving; Wealth; Aggregate Factor Income Distribution; Current Account Adjustment; Short-term Capital Movements; Investment & securities; International economics; Oil; Fiscal stance; Consumption; Income; Current account; Petroleum industry and trade; Fiscal policy; Economics; Balance of payments
• Soggetto geografico: Qatar
• Altri autori: BayoumiTamim
• Note generali: "November 2009."
• Nota di contenuto: Intro -- Contents -- I. Introduction -- II. Theoretical Considerations -- III. Data Analysis -- IV. Estimation -- A. Non-oil Current Account Balance -- B. Non-oil Fiscal Balance -- C. Public and Private Sectors -- V. Conclusion -- Tables -- 1. Determinants of Non- oil Current Account -- 2. Determinants of the Non-oil Fiscal Balance -- 3. Determinants of Non-oil Current Account -- Figures -- 1. Regional Non-Oil Current Accounts -- 2. Regional Non-Oil Fiscal Deficits -- References.
• Sommario/riassunto: This paper applies the Permanent Income Model to the non-oil current accounts of the major oil exporters to assess the extent to which national consumption decisions in these countries are made on the basis of permanent versus current income. A test of whether the return on oil wealth and oil balance coefficients sum to unity is accepted for all specifications that adjust the return on wealth for future population changes. For oil-exporting countries outside Africa, around half of the fluctuations in the private sector non-oil balance are driven by considerations of changes in permanent income (the return on oil wealth) rather than current income. By contrast, for the public sector and African countries permanent income has little or no effect.
• Titolo autorizzato: Today versus Tomorrow - The Sensitivity of the Non-Oil Current Account Balance to Permanent and Current Income
• ISBN: 1-4623-6685-6; 9786612844461; 1-4518-7395-6; 1-282-84446-6; 1-4527-3189-6
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Lingua di pubblicazione: Inglese
• Record Nr.: 9910811771903321
• Lo trovi qui: Univ. Federico II
• Serie: IMF Working Papers; Working Paper ; ; No. 2009/248