Alternative Fiscal Rules for Norway

摘要: This paper considers long-term fiscal policy options in Norway, the world's fifth largest oil exporter, light of substantial expected increase pension outlays. It compares current rule, which targets a (central government structural) non-oil deficit equal to 4 percent Government Pension Fund assets, with three alternatives that save larger share revenue and accumulate more assets pay for aging costs. also analyzes macroeconomic consequences accumulating finding additional income generated from allows lower tax rates, positive effects on output.