The strong economic ties between the GCC economies and the U.S. are manifested in three ways: currency peg, coupling of monetary policy, and the adoption of the U.S. dollar as the trading currency for oil. This paper examines how these dynamics result in a misalignment of the U.S. monetary...

"This book examines the flows of people and money in the Gulf Cooperation Council (GCC) countries. The book outlines the reasons that made the Gulf region a destination for millions of migrants. Taking advantage of the discovery of large hydrocarbon reserves and relatively stable political...

We investigate the responsiveness of remittances from the Gulf Cooperation Council (GCC) countries to the changes in the price of crude oil. Most of the GCC countries rank in the top 20 remitting countries in the world. We find that oil price elasticity of remittances is around 0.4. While most...