The role played by the banking sector in financing the economy in Morocco, following the reforms in the 1990s to liberalize the banking and financial sector, justifies our study of the transmission channels of monetary policy by its central bank (Bank Al-Maghrib). Our subject concerns the...

In the context of international financial crisis, this paper aims to analyze the impact of the liquidity level on the monetary policy transmission effectiveness of the Moroccan Central Bank (Bank Al Maghrib, BAM). After a long period of liquidity excess, the Moroccan banking system through,...

In the context of international financial crisis, this paper aims to analyze the impact of the liquidity level on the monetary policy transmission effectiveness of the Moroccan Central Bank (Bank Al Maghrib, BAM). After a long period of liquidity excess, the Moroccan banking system through,...

Like the central banks of developed countries, the central bank of Morocco (Bank Al-Maghrib, BAM) has since the 1990s, upgraded instruments and practice of monetary policy. The purpose of this study is to examine the implementation by the institution of a Taylor-type rule in its active monetary...

One of the advantages to analyze the economic links between two countries on the basis of stock market data, rather than aggregate economic data published by national statistical offices, is that stock market data are readily available, allowing analysis in almost real time. We consider a...

Modeling the evolution of formal institutions in relation to the evolution of economic and informal institutionaldevelopment. Discrete time optimization; simulation. The punctuations and the evolution formal institutional quality depends on the extent of economic heterogenety.

Modelin the local and central government behaviours to assess the welfare/efficiency/equity impacts of fiscal decentralization. Static optimization; simulation The relative welfare and efficiency effects of fiscal decision mechanisms (defined as social planners optimum choice of fiscal...