The Leading eBooks Store Online 4,272,009 members ⚫ 1,419,367 ebooks

New to eBooks.com?

Learn more

GCC Monetary Union and the Degree of Macroeconomic Policy Coordination

GCC Monetary Union and the Degree of Macroeconomic Policy Coordination by Bassem Kamar
Buy this eBook
US$ 9.00
(If any tax is payable it will be calculated and shown at checkout.)
Coordinating macroeconomic policies is a pre-requisite to a successful launch of the common currency in the GCC countries. Relying on the Behavioral Equilibrium Exchange Rate approach as a theoretical framework, we apply the Pooled Mean Group methodology to determine the similarity of the impact of a selected set of macroeconomic indicators on the real exchange rate in each country. Our empirical evidence points to a clear coordination of monetary policy, fiscal policy, government consumption, and openness across the member countries. While RER misalignments also show a substantial convergence building over time, differences in the misalignments of the two polar cases remain rather substantial, calling for further coordination and policy harmonization.
International Monetary Fund; October 2007
33 pages; ISBN 9781451984279
Read online, or download in secure EPUB or secure PDF format
Title: GCC Monetary Union and the Degree of Macroeconomic Policy Coordination
Author: Bassem Kamar; Samy Ben Naceur