Natural-resource booms, fiscal rules and welfare in a small open economy

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Borradores de Economía; No. 807
Date published
2014-01-31
Date of last update
2014-01-31
Author
Ojeda-Joya, Jair N.
Parra-Polanía, Julián Andrés
Vargas-Riaño, Carmiña Ofelia
Document language
spa
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Las opiniones contenidas en el presente documento son responsabilidad exclusiva de los autores y no comprometen al Banco de la República ni a su Junta Directiva.
Abstract
This document analyzes the macroeconomic effects of a boom in a small-open economy's natural-resource sector. We study the effects of this shock on the most important macroeconomic variables, the resource reallocation across sectors and on welfare under a
JEL Codes
E62 - Fiscal PolicyH63 - Debt; Debt Management; Sovereign DebtH30 - Fiscal Policies and Behavior of Economic Agents: GeneralF47 - Macroeconomic Aspects of International Trade and Finance: Forecasting and Simulation: Models and Application
Keywords
Fiscal rule ; Natural-resource boom ; Consumer welfare ; Equilibrium model ;
URI
https://repositorio.banrep.gov.co/handle/20.500.12134/6093
https://hdl.handle.net/20.500.12134/6093
https://doi.org/10.32468/be.807
https://ideas.repec.org/p/bdr/borrec/807.html
https://ideas.repec.org/p/col/000094/011132.html
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This work is licensed under a Creative Commons Reconocimiento-NoComercial 4.0.This document has been deposited by the author (s) under the following certificate of deposit