Termos, Ali; Genc, Ismail H.; Naufal, George S - Institute for the Study of Labor (IZA) - 2015
The strong economic ties between the GCC economies and the U.S. are manifested in three ways: currency peg, coupling of monetary policy, and the adoption of the U.S. dollar as the trading currency for oil. This paper examines how these dynamics result in a misalignment of the U.S. monetary...
