How to Design a Fiscal Strategy in a Resource-Rich Country: Guidance Note on the Excel Template (v1.0)

Author: Olivier Basdevant, John Hooley, and Eslem Imamoglu

Volume/Issue: Volume 2021 Issue 002

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Economics- Macroeconomics , Public Finance , FADHTN , HTN , resource revenue , calibration method , commodity shock , dropdown menu , shock path

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Summary

This guidance note describes how to use the Excel-based template developed by the Fiscal Affairs Department (FAD) of the IMF accompanying the note “How to Design a Fiscal Strategy in a Resource-Rich Country.” This template uses data inputs to generate simulations of fiscal policy dynamics. It helps IMF teams and country authorities in RRCs analyze trade-offs associated with alternative fiscal strategies for the use of public resource wealth. Visualizing these trade-offs and assessing their sensitivity to underlying macroeconomic assumptions can help inform policymakers on the most appropriate fiscal strategy, given country-specific circumstances.