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

Borradores de Economia
Number: 
807
Published: 
Classification JEL: 
E62, F47, H30, H63
Keywords: 
Human capital agglomeration, Social returns, Private returns, Externalities, Uncertainty, Fiscal policy
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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