Munich Personal RePEc Archive

آثار عجز الميزانية على الإدخار الخاص في الإقتصاد المغربي عبر نمذجة التقهقر الذاتي البنيوي

Ghassan, Hassan B. (2003): آثار عجز الميزانية على الإدخار الخاص في الإقتصاد المغربي عبر نمذجة التقهقر الذاتي البنيوي. Published in: Public Administration Journal , Vol. 44, No. 4 (16 September 2004): pp. 883-907.

WarningThere is a more recent version of this item available.

Download (720kB) | Preview


The purpose of this paper is to estimate a structural VAR model using macroeconomic data of Moroccan Economy, which includes national saving rate and budget deficit rate, to test the Ricardian Equivalence hypothesis. In this framework we separate saving and deficit movements into two types of shocks, associated with structural parameters, as we looking for two needles in haystack. We avoid to impose short run or long run constraints, which represents a methodological contribution and permits to obtain a best estimation of structural multipliers. The empirical results show that the mechanism of automatic stabilizing are indirectly checked in our sample. Our results suggest that Ricardian Equivalence did work in our sample, since private saving compensated a big fraction 90 per cent of the shock in budget deficit. This supports the interpretation that the large budget deficits, financed especially by debt, have been a very important factor behind the significant increase in real interest rates particularly in the eighties and early nineties.

Available Versions of this Item

Atom RSS 1.0 RSS 2.0

Contact us: mpra@ub.uni-muenchen.de

This repository has been built using EPrints software.

MPRA is a RePEc service hosted by Logo of the University Library LMU Munich.