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

Author

Listed:
  • Kamal Lahlou

    (Bank Al-Maghrib, Département de la Recherche)

  • Hicham Bennouna

    (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

  • Kamal Lahlou & Hicham Bennouna, 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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    Cited by:

    1. Chaimae Lazzarou, 2026. "Measuring Natural Interest Rate in Morocco," IHEID Working Papers 01-2026, Economics Section, The Graduate Institute of International Studies.
    2. Elguellab, Ali & Ezzahid, Elhadj, 2023. "Dissecting the Moroccan business cycle: A trade-based identification of agricultural supply shocks," Economic Modelling, Elsevier, vol. 129(C).

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

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