TY - BOOK ID - 84542566 TI - Nonrenewable Resources : A Case for Persistent Fiscal Surpluses AU - Alier, Max. AU - Kaufman, Martin. PY - 1999 SN - 1462389392 1452713960 1281386502 9786613779786 145189354X PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Macroeconomics KW - Public Finance KW - Taxation KW - Natural Resources KW - Fiscal Policy KW - Nonrenewable Resources and Conservation: Government Policy KW - Nonrenewable Resources and Conservation: General KW - National Government Expenditures and Related Policies: General KW - Taxation, Subsidies, and Revenue: General KW - Environmental management KW - Public finance & taxation KW - Non-renewable resources KW - Fiscal stance KW - Expenditure KW - Fiscal policy KW - Tax incidence KW - Environment KW - Tax policy KW - Natural resources KW - Expenditures, Public KW - Tax administration and procedure KW - Chile UR - https://www.unicat.be/uniCat?func=search&query=sysid:84542566 AB - This paper examines whether there is a case for temporary but persistent fiscal surpluses in economies heavily endowed with nonrenewable resources. It finds that there generally is a case. Fiscal surpluses permit replacing nonfinancial wealth with financial assets, the return on which increases public consumption possibilities of future generations for a constant across-generation tax burden. The more biased are a government’s preferences toward present generations, the lower will be the initial surpluses; the larger the finite endowment, the larger the initial surpluses. In a more general framework, including public investment, the proposition could be rephrased by replacing surpluses with stronger initial fiscal positions. ER -