Adedeji, Olumuyiwa S.; Roos, Erik; Shahid, Sohaib; Zhu, Ling - 2019
This paper provides empirical evidence that the size of the spillovers from U.S. monetary policy to non-oil GDP growth in the GCC countries depends on the level of oil prices. The potential channels through which oil prices could affect the effectiveness of monetary policy are discussed. We find...