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Natural-Resource Booms, Fiscal Rules and Welfare in a Small Open Economy

Jair Neftali
Ojeda-Joya
Julián Andrés
Parra-Polanía
Carmiña Ofelia
Vargas-Riaño
Miércoles, 1 Enero 2014

This document analyzes the macroeconomic effects of a boom in a small-open economy's natural-resource sector. We study the effects of this shock on the most important macroeconomic variables, the resource reallocation across sectors and on welfare under a