Economics, Econometrics and Finance
8 years ago

Prudent Budget Rules Protect Resource-Rich Nations from Boom-Bust Cycles

The World Bank Economic Review
Budget Rules and Resource Booms and Busts: A Dynamic Stochastic General Equilibrium Analysis
Shantayanan Devarajan, Yazid Dissou, Delfin S. Go, Sherman Robinson

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The article examines how budget rules affect economies during resource booms and busts using a complex economic model. The researchers found that having flexible budget rules can help countries better manage their finances when faced with fluctuations in resource revenues. This can lead to more stable economic growth and reduced vulnerability to external shocks.