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Inflation Differentials in the GCC

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  • Kamiar Mohaddes
  • Oral H. Wtlliams

Abstract

This paper uses a pairwise approach to investigate the main factors that have been driving inflation differentials in the Gulf Cooperation Council (GCC) region for the past two decades. The results suggest that inflation differentials in the GCC are largely influenced by the oil cycle, mainly through the credit and fiscal channels. This implies that in order for the proposed monetary union to be successful, closer coordination of fiscal policies will be critical. The results also indicate that after controlling for cyclical factors, convergence increased even during the recent oil boom.

Suggested Citation

  • Kamiar Mohaddes & Oral H. Wtlliams, 2013. "Inflation Differentials in the GCC," Middle East Development Journal, Taylor & Francis Journals, vol. 5(2), pages 1350012-131, January.
    • Handle: RePEc:taf:rmdjxx:v:5:y:2013:i:2:p:1350012-1-1350012-23
    DOI: 10.1142/S1793812013500120
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    Cited by:

    1. Kamiar Mohaddes & Mehdi Raissi, 2019. "The US oil supply revolution and the global economy," Empirical Economics, Springer, vol. 57(5), pages 1515-1546, November.
    2. Cashin, Paul & Mohaddes, Kamiar & Raissi, Maziar & Raissi, Mehdi, 2014. "The differential effects of oil demand and supply shocks on the global economy," Energy Economics, Elsevier, vol. 44(C), pages 113-134.
    3. Kandil Magda & Mirzaie Ida A., 2017. "Iran’s Inflationary Experience: Demand Pressures, External Shocks, and Supply Constraints," Review of Middle East Economics and Finance, De Gruyter, vol. 13(2), pages 1-19, August.
    4. Burney, Nadeem A. & Mohaddes, Kamiar & Alawadhi, Ahmad & Al-Musallam, Marwa, 2018. "The dynamics and determinants of Kuwait's long-run economic growth," Economic Modelling, Elsevier, vol. 71(C), pages 289-304.
    5. Alsamara, Mouyad & Mrabet, Zouhair & Dombrecht, Michel, 2018. "Asymmetric import cost pass-through in GCC countries: Evidence from nonlinear panel analysis," Economic Modelling, Elsevier, vol. 75(C), pages 432-440.

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