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Oil Price Shocks and GCC Economy Analysis by diego.pitta is a document available to read on EtoBox.
This document analyzes the impact of oil supply and demand shocks on the macroeconomic performance of Gulf Cooperation Council (GCC) countries from 1980 to 2019 using a panel vector autoregression model. It finds that output gaps in GCC countries react positively to oil demand shocks but negatively to oil supply shocks. The asymmetric specification produces different effects on fiscal balances, imports, and inflation compared to a symmetric specification. Monetary policy in GCC countries indirectly responds
- Author
- diego.pitta
- Language
- EN