2021

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

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