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Pass-through du taux de change aux prix au Maroc

Chatri, Abdellatif and Maarouf, Abdelwahab and Ragbi, Aziz (2016): Pass-through du taux de change aux prix au Maroc.

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Abstract

In this paper, we use SVAR model to evaluate the degree of exchanges rate pass-through to domestic prices. Our results suggest that the responsiveness of the later is low overall, decreases over time and it is higher for tradables than non-tradables goods. The low inflation environment, the modernization of the monetary policy framework and the country's import structure are the main factors explaining these results. This would facilitate the implementation of a more flexible exchange rate regime and explicit long- run inflation goal.

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