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Oil, National Wealth, and Current and Future Consumption Possibilities
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Journal Article
Oil, National Wealth, and Current and Future Consumption Possibilities
1991
Overview
This paper offers a discussion about the macroeconomics of exhaustible resources. In a resource-based economy, long-term sustainability is an obvious issue. This paper outlines some ideas on how to treat issues related to exhaustible resources in a macroeconomic context. Based on a small dynamic general equilibrium model, the approach is demonstrated with the help of some simple numerical examples.
Publisher
Washington, D.C. :International Monetary Fund
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