A Coincident Indicator of the Gulf Cooperation Council (GCC) Business Cycle /

This paper constructs a coincident indicator for the Gulf Cooperation Council (GCC) area business cycle. The resulting coincident indicator provides a reliable measure of the GCC business cycle; over the last decade, the GCC coincident index and the real GDP growth have moved closely together. Since...

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Détails bibliographiques
Auteur principal: Al-Hassan, Abdullah
Format: Revue
Langue:English
Publié: Washington, D.C. : International Monetary Fund, 2009.
Collection:IMF Working Papers; Working Paper ; No. 2009/073
Accès en ligne:Full text available on IMF
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245 1 2 |a A Coincident Indicator of the Gulf Cooperation Council (GCC) Business Cycle /  |c Abdullah Al-Hassan. 
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490 1 |a IMF Working Papers 
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500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
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520 3 |a This paper constructs a coincident indicator for the Gulf Cooperation Council (GCC) area business cycle. The resulting coincident indicator provides a reliable measure of the GCC business cycle; over the last decade, the GCC coincident index and the real GDP growth have moved closely together. Since the indicator is constructed using a small number of common factors, the strong correlation between the indicator and real GDP growth points to a high degree of commonality across GCC economies. The timing and direction of movements in macroeconomic variables are characterized with respect to the coincident indicator. Finally, to obtain a meaningful economic interpretation of the latent factors, their behavior is compared to the observed economic variables. 
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830 0 |a IMF Working Papers; Working Paper ;  |v No. 2009/073 
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