The Macroeconomic Effects of Natural Resource Extraction is popular PDF and ePub book, written by Mr.Suman S Basu in 2013-05-31, it is a fantastic choice for those who relish reading online the Business & Economics genre. Let's immerse ourselves in this engaging Business & Economics book by exploring the summary and details provided below. Remember, The Macroeconomic Effects of Natural Resource Extraction can be Read Online from any device for your convenience.
The Macroeconomic Effects of Natural Resource Extraction Book PDF Summary
To investigate the effects on Papua New Guinea’s economy of substantial liquified natural gas revenues arriving in 2015, we employ a model to examine the macroeconomic effects of a scalingup of natural resource windfall revenues and the implications for a variety of policy responses. The model is a multi-sector dynamic stochastic general equilibrium (DSGE) model, and features components that allow for a detailed study of the effects of both fiscal and monetary policy in response to a positive shock to the mineral resource value of a country. The model contains tradable, non-tradable, and mining sectors, as well as an independent central bank and fiscal authority. We calibrate the model to the current economy of Papua New Guinea and run a suite of policy simulations. We find that macroeconomic effects from a resource boom typically associated with Dutch Disease effects such as a real appreciation and a fall in tradable sector production stem largely from the non-tradable component of government spending. The central bank can offset the real appreciation, but not without crowding out the private sector. A sovereign wealth fund (SWF), combined with a smooth capital spending path, entails the best means of dealing with macroeconomic volatility and maintaining a stable fiscal regime.
Detail Book of The Macroeconomic Effects of Natural Resource Extraction PDF
- Author : Mr.Suman S Basu
- Release : 31 May 2013
- Publisher : International Monetary Fund
- ISBN : 9781484309810
- Genre : Business & Economics
- Total Page : 37 pages
- Language : English
- PDF File Size : 17,7 Mb
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