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Analyzing the Effect of Natural Resources Perpetuity Rule on Oil and Gas Revenue Allocation: A Dynamic General Equilibrium Approach
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Iman Haqiqi   , Hasan Aqanazari , Gholamali Sharzei |
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Abstract: (8758 Views) |
| The purpose of this paper is to introduce the “Natural Resources Perpetuity Rule” in the allocation of resources revenue. We also analyzed the potential impacts of implementing this rule on oil and gas revenues in Iran. To do so, we employed a Computable General Equilibrium Model which is calibrated based on 2010 Micro Consistent Matrix. We assumed an open economy with different sectors such as oil and gas, public services and other activities. Assuming exhaustibility, we measure the impact of different saving rates from Resources Revenue (SR) on welfare, size of public sector, activity levels and exports. We found that the more the SR, the more the welfare loss in first years, the higher the long-run welfare path, the more the non-oil export and the less the size of public sector. |
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| Keywords: Exhaustible Resources, Intergenerational Justice, Size of Public Sector, Computable General Equilibrium. |
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Type of Study: Applicable |
Subject:
انرژی، منابع و محیط زیست
Received: 2012/11/14 | Accepted: 2013/08/5 | Published: 2013/08/5
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