N°1: The Morocco Policy Analysis Model: Theoretical Framework and Policy Scenarios
Aya Achour, Aleš Bulíř, Omar Chafik, and Adam Remo
summary : The Morocco Policy Analysis model (MOPAM) was created in the Bank Al-Maghrib to simulate the impact of external developments, domestic macroeconomic policies, and structural reforms on key macroeconomic aggregates. We describe its structure and demonstrate its operation on two medium-term scenarios: (1) fiscal consolidation to stabilize the debt-to-GDP ratio and (2) the effects of the COVID-19 shock, including the endogenous fiscal and monetary policy response.
JEL codes : E32, E52, E58, E62, F47.
Keywords : Macroeconomic modeling, Morocco, fiscal stabilization, COVID-19 pandemic