| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP11522 |
| DP11522 Saving Alberta’s Resource Revenues: Role of Intergenerational and Liquidity Funds | |
| Frederick van der Ploeg | |
| 发表日期 | 2016-09-21 |
| 出版年 | 2016 |
| 语种 | 英语 |
| 摘要 | We use a welfare-based intertemporal stochastic optimization model and historical data to estimate the size of the optimal intergenerational and liquidity funds and the corresponding resource dividend available to the government of the Canadian province Alberta. To first-order of approximation, this dividend should be a constant fraction of total above- and below-ground wealth, complemented by additional precautionary savings at initial times to build up a small liquidity fund to cope with oil price volatility. The ongoing dividend equals approximately 30 per cent of government revenue and requires building assets of approximately 40 per cent of GDP in 2030, 100 per cent of GDP in 2050 and 165 per cent in 2100. Finally, the effect of the recent plunge in oil prices on our estimates is examined. Our recommendations are in stark contrast with historical and current government policy. |
| 主题 | International Macroeconomics and Finance |
| 关键词 | Oil price volatility Precautionary saving Resource wealth Fiscal policy |
| URL | https://cepr.org/publications/dp11522 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/540336 |
| 推荐引用方式 GB/T 7714 | Frederick van der Ploeg. DP11522 Saving Alberta’s Resource Revenues: Role of Intergenerational and Liquidity Funds. 2016. |
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