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|z 9781451868128
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|a 1018-5941
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|c BD-DhAAL
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|a Kamar, Bassem.
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|a GCC Monetary Union and the Degree of Macroeconomic Policy Coordination /
|c Bassem Kamar, Samy Ben Naceur.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2007.
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|a 1 online resource (33 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a 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.
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|a Mode of access: Internet
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|a Ben Naceur, Samy.
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|a IMF Working Papers; Working Paper ;
|v No. 2007/249
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2007/249/001.2007.issue-249-en.xml
|z IMF e-Library
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