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Contributions des facteurs domestiques et externes à la dynamique de l’inflation au Maroc

Author

Listed:
  • Lahlou, Kamal

    (Bank Al-Maghrib, Département de la Recherche)

  • Bennouna , Hicham

    (International Monetary Fund)

Abstract

L’objectif de ce travail est d’analyser les déterminants de l’inflation au Maroc durant la dernière décennie, marquée par plusieurs faits saillants, tant au niveau national qu’international. Les résultats de l’estimation de la courbe de Phillips, augmentée par les facteurs externes, et du modèle SVAR avec restriction des signes, ont fait ressortir que : (i) la demande domestique impacte de plus en plus faiblement l’évolution de l’inflation, (ii) la dynamique de l’inflation est essentiellement influencée par son passé (persistance), (iii) dans le sillage de l’accélération de l’intégration du Maroc à l’économie mondiale, le rôle des facteurs externes s’est considérablement consolidé, (iv) eu égard aux mutations qu’a connu le cadre de politique monétaire, les anticipations d’inflation sont de plus en plus influentes.

Suggested Citation

  • Lahlou, Kamal & Bennouna , Hicham, 2022. "Contributions des facteurs domestiques et externes à la dynamique de l’inflation au Maroc," Document de travail 2022-1, Bank Al-Maghrib, Département de la Recherche.
    • Handle: RePEc:ris:bkamdt:2022_001
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    References listed on IDEAS

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    More about this item

    Keywords

    Inflation; globalisation; anticipations; courbe de Phillips; modèle SRVARs.;
    All these keywords.

    JEL classification:

    • F62 - International Economics - - Economic Impacts of Globalization - - - Macroeconomic Impacts

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