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Author Collier, Paul,
Title Policy towards commodity shocks in developing countries / prepared by Paul Collier and Jan Willem Gunning.
Imprint [Washington, D.C.] : International Monetary Fund, Research Dept., 1996.

View online
View online
Author Collier, Paul,
Series IMF working paper ; WP/96/84
IMF working paper ; WP/96/84.
Subject Prices -- Developing countries.
Commercial products -- Developing countries.
Developing countries -- Economic policy.
Income -- Developing countries.
Revenue -- Developing countries.
Alt Name Gunning, Jan,
International Monetary Fund. Research Department,
Description 1 online resource (iii, 17 pages)
Bibliography Note Includes bibliographical references (page 17).
Access Use copy Restrictions unspecified star
Reproduction Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2010.
System Details Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002.
Note digitized 2010 HathiTrust Digital Library committed to preserve pda
Print version record.
Summary Annotation On the basis of a comparative study of 23 episodes involving commodity price shocks we find that both the public and private sectors typically save around half of a windfall gain resulting from a price rise. We argue that private windfalls should be left with the private sector rather than taxed. the focus of policy towards windfalls should be monetary rather than fiscal. the central bank should accommodate aggregate changes in the demand for financial assets. the private sector will initially wish to increase its claims on the central bank as it saves the windfall, but will then reduce them as portfolios are switched into real assets.
ISBN 145524838X
OCLC # 647041025
Additional Format Print version: Collier, Paul. Policy towards commodity shocks in developing countries. [Washington, D.C.] : International Monetary Fund, Research Dept., 1996 (OCoLC)35396355

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