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The Morocco Policy Analysis Model: Theoretical Framework and Policy Scenarios

Author

Listed:
  • Aya Achour
  • Mr. Ales Bulir
  • Omar Chafik
  • Adam Remo

Abstract

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.

Suggested Citation

  • Aya Achour & Mr. Ales Bulir & Omar Chafik & Adam Remo, 2021. "The Morocco Policy Analysis Model: Theoretical Framework and Policy Scenarios," IMF Working Papers 2021/122, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:2021/122
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    Keywords

    MOPAM policy option; B. policy scenario; B. scenario assumption; fiscal consolidation scenario; monetary policy response; COVID-19; Fiscal consolidation; Value-added tax; Global; Maghreb;
    All these keywords.

    JEL classification:

    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • E47 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Forecasting and Simulation: Models and Applications
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory

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