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|z 9781463927202
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|a 1018-5941
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|a Cevik, Serhan.
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|a Desynchronized :
|b The Comovement of Non-Hydrocarbon Business Cycles in the GCC /
|c Serhan Cevik.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2011.
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|a 1 online resource (25 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 This paper investigates the empirical characteristics of business cycles and the extent of cyclical comovement in the Gulf Cooperation Council (GCC) countries, using various measures of synchronization for non-hydrocarbon GDP and constituents of aggregate demand during the period 1990-2010. By applying the Christiano-Fitzgerald asymmetric band-pass filter and a mean corrected concordance index, the paper identifies the degree of non-hydrocarbon business cycle synchronization?one of the main prerequisites for countries considering to establish a monetary union. The empirical results show low and heterogeneous synchronization in non-hydrocarbon business cycles across the GCC economies, and a decline in the degree of synchronicity in the 2000s, if Kuwait is excluded from the sample, partly because of divergent fiscal policies.
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|a Mode of access: Internet
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|a IMF Working Papers; Working Paper ;
|v No. 2011/286
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2011/286/001.2011.issue-286-en.xml
|z IMF e-Library
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