We study revenue volatility of a monopolist selling a divisible good to consumers in the presence of local network externalities among consumers. Each consumer's utility depends on her consumption level as well as the consumption levels of her neighbors in a network through network...

Policy prescriptions for managing natural resource windfalls are based on the permanent income hypothesis: none of the windfall is invested at home and saving in an intergenerational SWF is dictated by smoothing consumption across different generations. Furthermore, with Dutch disease effects...