EconPapers    
Economics at your fingertips  
 

Resource revenue management and wealth neutrality

Klaus Mohn

No 2015/2, UiS Working Papers in Economics and Finance from University of Stavanger

Abstract: An important idea behind the Norwegian oil fund mechanism and the fiscal spending rule is to protect the non-oil economy from the adverse effects of excessive spending of resource revenues over the Government budget. A critical assumption in this respect is that public sector saving is not being offset by private sector dis-saving, which is at stake with the hypothesis of Ricardian equivalence. Based on a framework of co-integrating saving rates, this model provides an empirical test of the Ricardian equivalence hypothesis on Norwegian time series data. Although the model rejects the strong-form presence of Ricardian equivalence, results indicate that the Norwegian approach does not fully succeed in separating spending of resource revenues from the accrual of the same revenues.

Keywords: Resource wealth; saving; fiscal policy (search for similar items in EconPapers)
JEL-codes: D91 E21 E61 Q33 (search for similar items in EconPapers)
Pages: 15 pages
Date: 2015-01-22
New Economics Papers: this item is included in nep-ene and nep-mac
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://dl.dropboxusercontent.com/u/8078351/uis_wp ... wps_2015_02_mohn.pdf (application/pdf)
Our link check indicates that this URL is bad, the error code is: 404 Not Found

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:hhs:stavef:2015_002

Access Statistics for this paper

More papers in UiS Working Papers in Economics and Finance from University of Stavanger University of Stavanger, NO-4036 Stavanger, Norway. Contact information at EDIRC.
Bibliographic data for series maintained by Bernt Arne Odegaard ().

 
Page updated 2025-03-19
Handle: RePEc:hhs:stavef:2015_002