This study is an endeavour to analyse the influence of oil price shocks on the macroeconomy of the Gulf Cooperation …-regression(SVAR) model for period 1980–2016, our key findings suggest that there are significant positive effects of oil price shocks on the … responses of the GCC members to oil shocks, which suggests the presence of idiosyncrasies in the underlying structure of their …

shock asymmetric specification, we find evidence that the output gaps react positively to the oil demand shocks and … price shocks on fiscal balance, inflation and imports. Monetary policy reacts negatively to the oil demand shock and … positively to the oil supply shock. The policy implication suggests that the use of fiscal policy to reduce the impact of …

oil dependence on these dynamics. Despite shared cultural ties and energy intensity, findings reveal primarily weak to … oil prices yielded limited impact, suggesting the influence of country-specific factors. This research offers valuable …