{"product_id":"the-gcc-as-a-common-currency-area-von-george-tawadros","title":"The GCC as a Common Currency Area","description":"\u003cp\u003eIn this book, the feasibility of the Gulf countries forming a common currency area is assessed using two distinct, but complementary, approaches.  The empirical results based on the size of demand and supply disturbances, their cross-country correlations, and the speed of domestic adjustment identifies a grouping of countries (Bahrain, Oman, Saudi Arabia, and the UAE) for potential monetary unification.  In addition, the empirical results show that the six member countries share common long-run and short-run cyclical movements.  Furthermore, an estimate of the output loss in relinquishing policy autonomy to join a regional currency arrangement is provided.  These estimates appear to be relatively small, and are likely to be less than the efficiency gains from adopting a common currency.\u003c\/p\u003e\u003cdiv class=\"aw-variant-hidden-subtitle-div\" id=\"aw-variant-subtitle-9783659337147\"\u003e\u003ch3\u003e\u003c\/h3\u003e\u003c\/div\u003e","brand":"Autorenwelt Shop","offers":[{"title":"Softcover - 9783659337147","offer_id":39485310042205,"sku":"9783659337147","price":49.0,"currency_code":"EUR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0940\/0622\/files\/4a72db92-fa20-46d8-b4d5-59e35f620a10.jpg?v=1776054938","url":"https:\/\/shop.autorenwelt.de\/en\/products\/the-gcc-as-a-common-currency-area-von-george-tawadros","provider":"Autorenwelt Shop","version":"1.0","type":"link"}