Aslaksen et al. (1990) concluded that the petroleum wealth of Norway, and hence the permanent income from petroleum extraction, was as uncertain as the yearly oil revenues. Their conclusion was based on wealth estimates using official price projections, with no independent empirical analysis of...

Aslaksen et al. (1990) concluded that the petroleum wealth of Norway, and hence the permanent income from petroleum extraction, was as uncertain as the yearly oil revenues. Their conclusion was based on wealth estimates using official price projections, with no independent empirical analysis of...