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Farid Makhlouf and Kamal Kasmaoui
''Remittances and Business Cycle in Morocco''
( 2020, Vol. 40 No.2 )
This paper empirically investigates the cyclical properties of remittances in Morocco and examines factors driving their changes (from countercyclical to procyclical). First, by using the time-varying coefficients method for quarterly data from (Q1, 2004) to (Q1, 2015), this paper shows that the cyclical properties of remittances change over time. Second, the paper explores factors causing changes in cyclical properties of remittances, it shows that in the time of crises and depreciation of exchange rate remittances tend to be countercyclical. The paper provides a better understanding of the nature of the relationship between cyclical component of remittances and business cycle fluctuations.
Keywords: Remittances, Business Cycle, Morocco
JEL: F2 - International Factor Movements and International Business: General
E3 - Prices, Business Fluctuations, and Cycles: General (includes Measurement and Data)
Manuscript Received : Feb 25 2020 Manuscript Accepted : Jun 02 2020

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