01704cas a2200253 a 4500 AALejournalIMF009627 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451868043 1018-5941 BD-DhAAL BD-DhAAL Leigh, Daniel. Alternative Fiscal Rules for Norway / Daniel Leigh, Etibar Jafarov. Washington, D.C. : International Monetary Fund, 2007. 1 online resource (30 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper considers long-term fiscal policy options in Norway, the world's fifth largest oil exporter, in light of the substantial expected increase in pension outlays. It compares the current fiscal rule, which targets a (central government structural) non-oil deficit equal to 4 percent of Government Pension Fund assets, with three alternatives that save a larger share of oil revenue and accumulate more assets to pay for aging costs. It also analyzes the macroeconomic consequences of accumulating more assets, finding that the additional income generated from more assets allows lower tax rates, with positive effects on long-term output. Mode of access: Internet Jafarov, Etibar. IMF Working Papers; Working Paper ; No. 2007/241 Full text available on IMF http://elibrary.imf.org/view/journals/001/2007/241/001.2007.issue-241-en.xml IMF e-Library