Monetary and Fiscal Policies and the Dynamics of the Yield Curve in Morocco

Released on by Mr.Calixte Ahokpossi
preview-18

  • Monetary and Fiscal Policies and the Dynamics of the Yield Curve in Morocco Book Detail

  • Author : Mr.Calixte Ahokpossi
  • Release Date : 2016-08-16
  • Publisher : International Monetary Fund
  • Genre : Business & Economics
  • Pages : 31
  • ISBN 13 : 1475526296
  • File Size : 13,13 MB
DOWNLOAD BOOK

Monetary and Fiscal Policies and the Dynamics of the Yield Curve in Morocco by Mr.Calixte Ahokpossi PDF Summary

Book Description: We estimate the latent factors that underlie the dynamics of the sovereign bond yield curve in Morocco during 2004–14 based on the Dynamic Nelson-Siegel model. On this basis, we explore the interaction between macroeconomic variables and the yield curve, which is of direct relevance to macroeconomic policy-making. In Morocco’s context, we find that tighter monetary policy increases short-end maturities, and that the impact is small and short-lived. Economic activity is also briefly but significantly impacted, suggesting that even under a pegged exchange rate, monetary policy autonomy and effectiveness can be increased through greater central bank independence. Fiscal improvements significantly lower yield levels. Policy conclusions are that improvement in the fiscal and monetary policy frameworks, as well as greater financial sector development and inclusion, could benefit Morocco and strengthen the transmission mechanisms and effectiveness of macroeconomic policies.

Disclaimer: www.yourbookbest.com does not own Monetary and Fiscal Policies and the Dynamics of the Yield Curve in Morocco books pdf, neither created or scanned. We just provide the link that is already available on the internet, public domain and in Google Drive. If any way it violates the law or has any issues, then kindly mail us via contact us page to request the removal of the link.