المجلة الدولية للاداء الاقتصادي
Volume 9, Numéro 1, Pages 179-209
2026-06-30
Simulating Banking Sector Dynamics In North Africa: Methodological Insights From Dsge Models
Authors : Kacem Sara . Abdoulaye Aboubacari Mohamed .
Abstract
This paper develops an open-economy DSGE model to evaluate fiscal and monetary coordination in North African economies. Extending the Gali and Monacelli (2008) framework, we incorporate Calvo price rigidities and bank-based financial frictions. Using Bayesian estimation, the study examines whether targeting the output gap or output growth optimizes stability. Results reveal an 'active' monetary stance against inflation with significant interest rate smoothing. While fiscal policy effectively stabilizes debt, its impact on output depends on the specific monetary rule. Findings suggest that growth-oriented Taylor rules enhance stability and facilitate better coordination between authorities.
Keywords
Monetary-Fiscal Coordination ; Economic Stability ; Inflation ; North African Economies.
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