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 studies have examined the impact of remittances on the real economic activities in the receiving countries, this study emphasises the impact of remittances on the remitting countries. We examine various policy implications with regard to macroeconomic shocks, monetary policy and fiscal policy of the GCC countries. Copyright 2009 The Authors. Journal compilation 2009 Organization of the Petroleum Exporting Countries.

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Rapid international migration of significant populations generates profound implications for countries in West Asia, Europe, and other regions. The motivation of this work is to develop an agent-based model (ABM) to capture the existence of such migrant and refugee flows, and to explore the e ects of these flows on urban dynamics. Advances in agent-based modelling have led to theoretically-grounded spatial agent models of urban dynamics, capturing the dynamics of population, property prices, and regeneration. In this article we leverage such an extant agent-based model founded on the rent-gap theory, as a lens to study the e ect of sizeable refugee migration upon a capital city in West Asia. In order to calibrate and validate the simulation model we construct indices for housing prices and other factors. Results from the model, implemented in NetLogo, show the impact of migration shock on the housing market, and identify the relative e icacy of housing intervention policies. Our work progresses towards a tool for policy makers asking what-if questions about the urban environment in the context of migration.

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Any opinions expressed here are those of the author(s) and not those of IZA. Research published in this series may include views on policy, but the institute itself takes no institutional policy positions.The Institute for the Study of Labor (IZA) in Bonn is a local and virtual international research center and a place of communication between science, politics and business. IZA is an independent nonprofit organization supported by Deutsche Post Foundation. The center is associated with the University of Bonn and offers a stimulating research environment through its international network, workshops and conferences, data service, project support, research visits and doctoral program. IZA engages in (i) original and internationally competitive research in all fields of labor economics, (ii) development of policy concepts, and (iii) dissemination of research results and concepts to the interested public.IZA Discussion Papers often represent preliminary work and are circulated to encourage discussion.