Louis, Rosmy; Balli, Faruk; Osman, Mohammad - Volkswirtschaftliche Fakultät, … - 2008
AGCC countries' output is heavily dichotomized into oil and non-oil. The oil shocks have similar effects on all member countries but little is known about their responses to non-oil shocks. This paper sets out to determine whether (1) aggregate demand (AD) and non-oil supply shocks (AS) are...