01738cas a2200265 a 4500 AALejournalIMF008339 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451848816 1018-5941 BD-DhAAL BD-DhAAL Guerami, Behrouz. The GCC Monetary Union : Some Considerations for the Exchange Rate Regime / Behrouz Guerami, S. Erbas, George Abed. Washington, D.C. : International Monetary Fund, 2003. 1 online resource (25 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students We compare the dollar peg to a dollar-euro basket peg as alternative exchange rate regimes for the incipient Gulf Cooperation Council (GCC) currency union. Quantitative evidence suggests basket peg does not dominate dollar peg for improving external stability. However, as GCC exports and external financial assets become more diversified, a more flexible exchange policy may be necessary for competitiveness and stability. Pegging the prospective common GCC currency to a basket, like the dollar-euro basket, may provide a conservative transitional strategy toward a more flexible exchange rate policy. Mode of access: Internet Abed, George. Erbas, S. IMF Working Papers; Working Paper ; No. 2003/066 Full text available on IMF http://elibrary.imf.org/view/journals/001/2003/066/001.2003.issue-066-en.xml IMF e-Library