Economic analysis of events in the United Arab Emirates and the Gulf
posted by John B. Chilton at 9/22/2005 11:13:00 PM
Minor point, but the Permanent Fund's portfolio should probably be seriously underweight in oil shares. As the government's revenue probably already covaries strongly with oil prices, as does the general prosperity in the country,ideally the Permanent Fund should be structured so that the size of its annual dividend has a negative covariance with oil prices.
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