English (United Kingdom)

https://curated-unify.zendy.io/wp-json/zendy-region/v1/featured_content/oa?rat=en

https://curated-unify.zendy.io/wp-json/zendy-region/v1/highlighted_journal/

Global: Zendy Plus annual

Presents the access of premium content as premium feature

Premium Content

Presents the keyphrase highlighting as premium feature

Keyphrase Highlighting

Presents the summarisation as premium feature

Summarisation

Insights

Presents the pdf analysis as premium feature

PDF Analysis

Presents the zaia usage as premium feature

ZAIA

Global: Zendy Plus monthly

Global: Zendy Tools annual

Global: Zendy Tools monthly

Global: Zendy Free Plan

The analysis of the effects of monetary policy shocks using the commoneconometric models (such as VAR or SVAR) poses several empirical anomalies.However, it is known that in these econometric models the use of a large amountof information is accompanied by dimensionality problems. In this context, theapproach in terms of FAVAR (Factor Augmented VAR) models tries to solve thisproblem. Moreover, the information contained in the factors is important forthe correct identification of monetary policy shocks and it helps to correctthe empirical anomalies usually encountered in empirical work. FollowingBernanke, Boivin and Eliasz (2005) procedure, we will use the FAVAR model toanalyze the impact of monetary policy shocks on the Moroccan economy. The modelused allows us to obtain impulse response functions for all indicators in themacroeconomic dataset used (117 quarterly frequency series from 1985: Q1 to2018: Q4) to have a more realistic and complete representation of the impact ofmonetary policy shocks in Morocco.

Econometric assessment of the monetary policy shocks in Morocco: Evidence from a Bayesian Factor-Augmented VAR