The purpose of this paper is to analyze the dynamic response of a small subset of variables to exchange rate shocks by using a new method based on a set of theory-consistent sign restrictions for the purpose of identifying shocks over time (1995Q1–2019Q1) in the Moroccan economy. It is...

In this paper, we examine the impact of nominal and real shocks on the behavior of the real exchange rate of the Moroccan dirham. To do so, we use a long-run structural vector autoregression (SVAR) approach, based on a Mundell–Fleming–Dornbusch type model, to identify the three types of...