The basic macro‐economics of oil economies
构建了一个简单的凯恩斯模型，分析石油经济体在石油收入资助的政府支出增加时，短期和长期对价格水平及非贸易品相对价格的影响。
Focussing on the rentier aspects of an oil economy, where the rent accrues in foreign exchange, this paper constructs a simple Keynesian model of a typical oil economy. Increases in oil‐financed government expenditures in the short run, are shown to raise the general price level and the relative price of non‐tradables. Sustained increases in oil‐financed government expenditures are shown to result in an economy whose structure resembles that of the present day oil economies.