Business Cycles Fluctuations in Morocco Macroeconomics Times Series : GDP Components, Employment and Monetary Aggregates

This paper tries to describe the Moroccan business cycles in both terms: classical and growth cycles, and to characterize its main regularities. The purpose of this study is to analyse the importance of the magnitude of the observable macroeconomic times series changes in predicting fluctuations in the real GDP. The key findings are the deprived performance of Moroccan's economy has not explained by the interior demand (private and public consumption, and investment) or the labour supply shock or the external supply shock on imports, but by the external demand shock on exports and monetary aggregates