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

El Amri Youness, Abdelhamid El Bouhadi, Mimoun Benali
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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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摩洛哥的汇率传递:结构性变量方法
本研究分析了摩洛哥短期和长期汇率波动的影响。本文的目的是研究汇率变动对物价指数的冲击传递,即汇率传递。2000 - 2018年季度数据的实证结果显示,摩洛哥在消费者价格指数、进口价格指数和工业生产价格指数这三类价格指数中,汇率的传递作用相当重要,但不完整和滞后。JEL: G15, G17, C51, C52
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