SECTORAL EFFECTS OF MONETARY POLICY: EVIDENCE FROM MOROCCO

Charaf Eddine Moussir and Abdellatif Chatri ()

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Abstract: The purpose of this paper is to shed more light on the existence of significant differences in the reactions of Moroccan sectors to monetary policy shocks. The results of the analysis indicate that at the aggregate level a monetary policy tightening leads to a decrease of the overall GDP and price level. At the disaggregated level, the extraction industry, manufacturing, construction, hotels & restaurants, the financial and insurance activities are among the more sensitive sectors to monetary policy shocks. On the other hand monetary policy innovations do not appear to have an adverse impact on agriculture and fishing sectors

Keywords: Morocco.; Monetary policy; sectoral output; VAR model; Impulse response functions (search for similar items in EconPapers)
Date: 2017-01-06
New Economics Papers: this item is included in nep-ara, nep-mac and nep-mon
Note: View the original document on HAL open archive server: https://hal.science/hal-01449475
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Published in Finance et Finance Internationale, 2017, 6

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-01449475

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