EXCHANGE RATE PASS-THROUGH IN MOROCCO: A STRUCTURAL VAR APPROACH

El Amri Youness, Abdelhamid El Bouhadi, Mimoun Benali

Abstract


This study analyzes the impact of short- and long-term exchange rate fluctuations in Morocco. The purpose of this paper is to study the shocks transmission of exchange rates variations to prices index known as exchange rate pass-through. The empirical results of the quarterly data between 2000 and 2018 revealed that the pass-through of the exchange rate in Morocco is quite important, but incomplete and delayed in three categories of price index: consumer price index, Imports price Index and Industrial production price Index.

JEL: G15, G17, C51, C52

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Keywords


pass-through; inflation; REER; SVAR model; Morocco

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References


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DOI: http://dx.doi.org/10.46827/ejefr.v5i3.1179

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