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Remittances and Business Cycle in Morocco


  • Farid Makhlouf

    () (ESC PAU Business School)

  • Kamal Kasmaoui

    () (ESC PAU Business School)


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.

Suggested Citation

  • Farid Makhlouf & Kamal Kasmaoui, 2020. "Remittances and Business Cycle in Morocco," Economics Bulletin, AccessEcon, vol. 40(2), pages 1431-1445.
  • Handle: RePEc:ebl:ecbull:eb-20-00154

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    Remittances; Business Cycle; Morocco;

    JEL classification:

    • F2 - International Economics - - International Factor Movements and International Business
    • E3 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles


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