The Resilience of the Moroccan Economy Under Budgetary and Monetary Coordination: A Modeling Approach Using R Studio

La Résilience de l’économie Marocaine sous la Coordination Budgétaire et Monétaire: Essai de Modélisation sous R studio

Ahmed Hefnaoui, Younes El Khattab, Imad Bassite () and Youssef Ibnouzahir
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Ahmed Hefnaoui: PEL - Laboratoire Performance Economique et Logistique (PEL)

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Abstract: The objective of this study is to analyze the impact of the Policy-mix on Morocco's economic resilience by assessing the coordination between monetary and fiscal policies. The econometric approach relies on an SVAR model to examine the effects of fiscal and monetary instruments on key macroeconomic variables. The results indicate that monetary policy, particularly through inflation control, plays a crucial role in economic stabilization, while the impact of public spending on economic resilience appears more mixed. Impulse response functions reveal a negative reaction of resilience to inflationary and monetary shocks, as well as a limited influence of public spending on economic stability. Variance decomposition shows that inflation is primarily driven by money supply, whereas economic resilience is more influenced by fiscal policy. These findings highlight the need for better policy coordination to optimize shock management and strengthen macroeconomic stability.

Keywords: Policy mix; Economic resilience; Monetary policy; Fiscal policy; SVAR.; Résilience économique; Politique monétaire; Politique budgétaire; La Résilience de l'économie Marocaine sous la Coordination Policy mix Résilience économique Politique monétaire Politique budgétaire SVAR Policy mix Economic resilience Monetary policy Fiscal policy SVAR; La Résilience de l'économie Marocaine sous la Coordination Policy mix; SVAR Policy mix; SVAR (search for similar items in EconPapers)
Date: 2025-05-22
New Economics Papers: this item is included in nep-ara
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Published in Résilience Economique au Maroc : Facteurs Clés et Perspectives d’Avenir, Zouhair LAKHYAR, May 2025, Mohammedia - Casablanca, Maroc. ⟨10.5281/zenodo.16281871⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-05175083

DOI: 10.5281/zenodo.16281871

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