This paper develops a dynamic, stochastic, general-equilibrium model to analyze and derive simple budget rules in the face of volatile public revenue from natural resources in a low-income country like Niger. The simulation results suggest three policy lessons or rules of thumb. When a resource price change is positive and temporary, the best strategy is to save the revenue windfall in a sovereign fund and use the interest income from the fund to...
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INFORMATION
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2017/01/01
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Article de revue
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129200
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1
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1
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2018/08/03
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Disclosed
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Budget rules and resource booms and busts : a dynamic stochastic general equilibrium analysis
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domestic good
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