Today versus Tomorrow - The Sensitivity of the Non-Oil Current Account Balance to Permanent and Current Income »
Series: IMF Working Papers
Author(s): Alun Thomas , and Tamim Bayoumi
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 November 2009
Keywords: Permanent Income Model, non-oil current account, oil wealth, rate of return, current account, permanent income, current income, consumption decisions,
This paper applies the Permanent Income Model to the non-oil current accounts of the major oil exporters to assess the extent to which national consumption decisions in these countries are made on the basis of perm...