TY - BOOK ID - 136164803 TI - U.S. Monetary Policy Spillovers to GCC Countries: Do Oil Prices Matter? AU - Adedeji, Olumuyiwa. AU - Roos, Erik. AU - Shahid, Sohaib. AU - Zhu, Ling. PY - 2019 SN - 1513525735 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - United States KW - Banks and Banking KW - Finance: General KW - Macroeconomics KW - Financial Markets and the Macroeconomy KW - Empirical Studies of Trade KW - Economic Integration KW - International Policy Coordination and Transmission KW - Measurement of Economic Growth KW - Aggregate Productivity KW - Cross-Country Output Convergence KW - Energy: Demand and Supply KW - Prices KW - Interest Rates: Determination, Term Structure, and Effects KW - Portfolio Choice KW - Investment Decisions KW - Externalities KW - Finance KW - Banking KW - Oil prices KW - Real interest rates KW - Central bank policy rate KW - Liquidity KW - Spillovers KW - Financial services KW - Asset and liability management KW - Financial sector policy and analysis KW - Interest rates KW - Economics KW - International finance UR - https://www.unicat.be/uniCat?func=search&query=sysid:136164803 AB - This paper provides empirical evidence that the size of the spillovers from U.S. monetary policy to non-oil GDP growth in the GCC countries depends on the level of oil prices. The potential channels through which oil prices could affect the effectiveness of monetary policy are discussed. We find that the level of oil prices tends to dampen or amplify the growth impact of changes in U.S. monetary policy on the non-oil economies in the GCC. ER -