##plugins.themes.bootstrap3.article.main##

MERYEM ERRAITEB

Abstract

The purpose of this study is evaluating the effectiveness of monetary policy in Morocco. The results suggest that the monetary authorities must get out of the narrowness of logic monetarist by adopting a new approach which explicitly privileges the targeting of inflation as the ultimate goal, while referring to a multitude of indicators likely to guide the Central Bank in the conduct of its monetary policy as the exchange rate and interest rate next to the M3 aggregate growth rule. Thus, monetary authorities should out of the narrow sense monetarist by adopting a new approach that focuses explicitly targeting inflation as the ultimate goal, while referring to a multitude of indicators to guide the central bank in the conduct of monetary policy as exchange rate and Interest rate ET and this, alongside the growth rule M3.


 

Download Statistics

##plugins.themes.bootstrap3.article.details##

Keywords

Monetary policy, financial innovations, stability of money demand, inflation targeting.

References
Florin AFTALION and Patrice PONCET, Monetarism, Edition Que Sais-je?, Presses Universitaires de France, 1995.

Mohamed Azzedine BERRADA, The new capital markets in Morocco, SECEA editions, 1998.

Monique BEZIADE, Currency, Masson, Paris, 1986.

Régis BOURBONNAIS, Econometrics, DUNOD, Paris, 2002

Michelle DE MOURGUES, Financial system and monetary theory, Economica, 1988.

Christian BORDES, Monetary policy, La Découverte, Paris, 2007, pp 16 - 19.

Sophie BRANA and Michel CAZALS, La Monnaie, Dunod, Paris, 2006.

Pierre-Bruno RUFFINI, The monetary theories, Dunod, 1993.

Hicham BADDI, "The stability of the money demand function in Morocco", Acts of the Academic School, Modeling and economic forecasting, Second session 2010, June 2011, pp 39 - 62.

Mr. EL HAFIDI, Mr. AIT OUDRA and Mr. BENALI, “The demand for money M1 and M2 in Morocco: study in terms of cointegration ", Law and Economy Review, Double issue 21-22, January 2006, p 347.

Mr. EL HAFIDI, Mr. AIT OUDRA and Mr. BENALI, “The stability of the function of request for M3 money in Morocco ", Law and Economics Journal, Double issue 21-22, January 2006, p 363.

Abdellatif EL M’KADDEM and Habib ANOUNE, "Financial innovations, request and monetary policy in Morocco ", Journal of the Association of Moroccan economists, n ° 21, Autumn 1997, pp 5–20.

Jean-Paul POLLIN, "Theory of monetary policy: Sketches of a refoundation ", Economic review, Presses de Sciences Po, n ° 3, 2005, pp 507 - 539.

Institutional publications: Bank Al-Maghrib, Annual reports, Rabat, 1990 to 2011.

Bank Al-Maghrib, Monetary Policy Report N ° 01/2006, Document prepared for the Board of Bank Al-Maghrib, Rabat, December 2006.
Citation Format
How to Cite
ERRAITEB, M. (2020). Effectiveness of Monetary Policy in Morocco: Stability and Implications. International Journal of Economics, Business, and Entrepreneurship (IJEBE), 3(1), 14-28. https://doi.org/10.23960/ijebe.v3i1.75
Section
Articles