Termos, Ali; Genc, Ismail H.; Naufal, George S - Institute for the Study of Labor (IZA) - 2015
staggering amount of remittances outflow of the GCC economies plays a stabilizing role as a tacit monetary policy tool …The strong economic ties between the GCC economies and the U.S. are manifested in three ways: currency peg, coupling of … result in a misalignment of the U.S. monetary policy with the business cycles of the GCC economies. The study shows how the …