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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...
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This paper assesses the costs of forming a monetary union among the Gulf Cooperation Council (GCC) countries by looking … at economic linkages within the GCC, and between the GCC and the potential anchors (the US, and major European countries … across the GCC countries and between the GCC and the US, but none for the major European countries with the GCC. Non-oil AS …
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