Dealing with the Dutch disease: Fiscal rules and macro-prudential policies

Abstract

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Revisiting the commodity curse: A financial perspective

“…In particular, we set the initial stock of knowledge of the technological leader to A 0 = 7. 18 The initial stock of knowledge for our small open economy is set to A 0 = 3. This calibration implies an initial proximity to the frontier equal to a 0 = 0:42.…”

“…o subject to the economy-wide resource constraints (19), (20), (21) and the technology constraints (8), (12), (16) and (18).…”

Latin America's Declining Skill Premium: A Macroeconomic Analysis

“…The assumption of a relatively high‐skill‐intensive tradable sector is somewhat related to the Dutch Disease literature, which often assumes the manufacturing tradable sector is “special” in the sense that it concentrates learning‐by‐doing, increasing returns to scale, spillover effects, or other positive externalities. See, for example, van Wijnbergen (), Lama and Medina (), and García‐Cicco and Kawamura ().…”

Evaluating monetary policy options for managing resource revenue shocks when fiscal policy is laissez-faire: Application to Nigeria

“…Our paper is related to three strands of literature: (i) the literature on Dutch disease and macroeconomic performance, (see Benkhodja, 2014;Sachs and Warner, 2001;Gelb, 1988;Gylfason, 2002), (ii) the literature on fiscal and monetary counter-cyclicality (see Taylor, 1993;Galí et al, 2007;Frankel et al, 2013;García-Cicco and Kawamura, 2015) and (iii), the borrowed theoretical insights from the aid literature (see Berg et al, 2015;Agénor and Yilmaz, 2013;Adam and Bevan, 2006;Adam et al, 2009;Berg et al, 2010).…”