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Williams, Oral.

Inflation Differentials in the GCC Does the Oil Cycle Matter? / Oral Williams. [electronic resource] : Oral Williams. - Washington, D.C. : International Monetary Fund, 2011. - 1 online resource (30 p.) - IMF Working Papers; Working Paper ; No. 11/294 . - IMF Working Papers; Working Paper ; No. 11/294 .

This paper uses a pairwise approach to investigate the main factors that have been driving inflation differentials in the Gulf Cooperation Council (GCC) region for the past two decades. The results suggest that inflation differentials in the GCC are largely influenced by the oil cycle, mainly through the credit and fiscal channels. This implies that closer coordination of fiscal policies will be key for facilitating the closer integration of the GCC economies and ahead of the move to a monetary union. The results also indicate that after controlling for cyclical factors, convergence increased even during the recent oil boom.

ISBN: 1463927282 : 18.00 USD

ISSN: 1018-5941

Standard No.: 10.5089/9781463927288.001 doi

Subjects--Topical Terms:
Convergence
Gulf Cooperation Council (GCC) Countries.
Inflation Differentials
Inflation Rates
Inflation
Monetary Fund

Subjects--Geographic Terms:
Bahrain
Kuwait
Qatar
Saudi Arabia
United Arab Emirates