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Inflation targeting in Morocco: a VAR model analysis

Author

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  • Mariam Elhaddadi
  • Mohamed karim

Abstract

The aim of our work is to conduct a descriptive analysis of the inflation targeting regime. In this context, we will analyze the theoretical underpinnings of the inflation targeting. Initially, we will define the inflation targeting and the motivations for its appearance. Then, we will analyze the prerequisites and the necessary steps for the implementation of this regime, as well as its advantages and disadvantages. In a second step, we will evaluate the adoption of inflation targeting by emerging countries by referring to the study carried out by Scott ROGER. Also, we will verify that Morocco validates the conditions necessary for the implementation of inflation targeting. In order to analyze the impact of the inflation targeting regime on the Moroccan economy, we will proceed to a VAR model analysis aiming to identify the most significant variables which interfere in the implementation of this new monetary policy in Morocco.JEL classification numbers: E31, E52, C32.Keywords: Inflation targeting, inflation, exchange rate, VAR.

Suggested Citation

  • Mariam Elhaddadi & Mohamed karim, 2018. "Inflation targeting in Morocco: a VAR model analysis," Advances in Management and Applied Economics, SCIENPRESS Ltd, vol. 8(1), pages 1-1.
    • Handle: RePEc:spt:admaec:v:8:y:2018:i:1:f:8_1_1
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    References listed on IDEAS

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    1. Zied Ftiti & Jean-François Goux, 2011. "Le ciblage d'inflation : un essai de comparaison internationale," Post-Print halshs-00573742, HAL.
    2. Frederic S. Mishkin, 2000. "Inflation Targeting in Emerging-Market Countries," American Economic Review, American Economic Association, vol. 90(2), pages 105-109, May.
    3. Ben S. Bernanke & Frederic S. Mishkin, 1997. "Inflation Targeting: A New Framework for Monetary Policy?," Journal of Economic Perspectives, American Economic Association, vol. 11(2), pages 97-116, Spring.
    4. Mr. Marcel Peter & Mr. Scott Roger & Mr. Geoffrey M Heenan, 2006. "Implementing Inflation Targeting: Institutional Arrangements, Target Design, and Communications," IMF Working Papers 2006/278, International Monetary Fund.
    5. Frederic S. Mishkin, 2004. "Can Inflation Targeting Work in Emerging Market Countries?," NBER Working Papers 10646, National Bureau of Economic Research, Inc.
    6. Zied Ftiti & Jean-François Goux, 2011. "Le ciblage d’inflation : un essai de comparaison internationale," Working Papers 1107, Groupe d'Analyse et de Théorie Economique Lyon St-Étienne (GATE Lyon St-Étienne), Université de Lyon.
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    More about this item

    Keywords

    inflation targeting; inflation; exchange rate; var.;
    All these keywords.

    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models

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