A Small Scale Macroeconomic Model for Morocco

Youssef Oukhallou () and Abla Mrabti ()
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Youssef Oukhallou: Mohammed V University of Rabat, The Faculty of Economics & Law, Agdal, Applied Economics Laboratory, Morocco.
Abla Mrabti: Mohammed V University of Rabat, The Faculty of Economics & Law, Agdal, Applied Economics Laboratory, Morocco.

Journal of Economics and Political Economy, 2017, vol. 4, issue 2, 159-177

Abstract: In this research paper, we build a New Keynesian reduced-form macroeconomic model for Morocco. The model encompasses three main blocks: an aggregate demand equation (IS curve), a price-setting equation (Phillips curve) and a Taylor-type monetary policy rule. In our model, we consider a significant forward-looking component when explaining inflation dynamics, which enables us to include agent’s expectations. The downstream aim of this work is to provide the research community with new possibilities in terms of economic workhorse modelling, particularly for monetary policy analysis purposes.

Keywords: Small scale model; Forward-looking expectations; Monetary policy; Fixed exchange regime. (search for similar items in EconPapers)
JEL-codes: C32 E12 E17 E43 E47 (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:ksp:journ1:v:4:y:2017:i:2:p:159-177

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