Lakhchen Faïçal Professor · Macroeconomist
Portrait of Lakhchen Faïçal

Lakhchen Faïçal

Professor of Economics · Université Mohammed I

Researcher in macro-finance, DSGE modeling and development economics, with a focus on financial frictions, monetary policy and labor markets in emerging economies.

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About

I am a Professor of Economics at Université Mohammed I (Faculty of Economics and Management, Nador). I hold a Ph.D. in Applied Economics from Ibn Zohr University, where I also teach (part time) courses in macroeconomics and quantitative methods. My research focuses on the intersection of macroeconomics and finance—macro-finance—with a particular emphasis on developing and emerging economies. I study how financial frictions shape the business cycle, using Dynamic Stochastic General Equilibrium (DSGE) models to better understand the transmission of shocks and the role of monetary policy.

In parallel, I explore labor market dynamics, examining how employment, wages, and policy interact under structural constraints often present in low- and middle-income countries. My approach blends theory with applied macroeconometrics, always aiming to connect rigorous analysis with real-world policy relevance.

  • Macro-finance
  • DSGE modeling
  • Monetary policy
  • Financial frictions
  • Labor markets
  • Applied macroeconometrics
  • Emerging economies

Bank Al-Maghrib Prize for Economic and Financial Research (2025) — Prize for Excellence, awarded for my work on financial frictions and business cycle dynamics in the Moroccan economy.

Award & media coverage →

Publications

Journal articles, working papers and technical reports.

  1. 2026

    Post-COVID Inflation and Monetary Policy in Morocco: Analysis Using a Bayesian VAR Model

    Lakhchen, F. · African Journal of Economic and Management Studies, ahead-of-print, 1–22 Journal

    DOI
  2. 2025

    Financial Frictions and Monetary Policy in Developing Economies: An Estimated DSGE Model with a Banking Sector for Morocco

    Lakhchen, F. · International Economic Journal, 39(2), 400–422 Journal

    DOI
  3. 2024

    Replicating Mankiw's Textbook Dynamic Model: A Pedagogical Pathway to New Keynesian Models

    Lakhchen, F. · HAL, Technical Report Report

    PDF
  4. 2023

    Unraveling Wage Rigidity and its Impact on Business Cycles in Morocco

    Lakhchen, F. · SSRN Working Paper (October 5, 2023) Working paper

    SSRN
  5. 2023

    L'efficacité de la politique monétaire et la transition du régime de change au Maroc : Scénarisation par un modèle semi-structurel

    Hachimi Alaoui, M. E. & Lakhchen, F. · Revue Française d'Economie et de Gestion, 4(10), 1–18 Journal

    PDF
  6. 2023

    L'effet amplificateur et frictions financières : Une analyse critique des modèles DSGE pré-crise financière

    Lakhchen, F. · European Scientific Journal, ESJ, 19(22), 34 Journal

    PDF
  7. 2017

    An Assessment of the Standard New Keynesian Model Applied to Morocco: A Bayesian Estimation

    Hachimi Alaoui, M. E. & Lakhchen, F. · Economie, Gestion et Société, no. 14 Journal

    PDF

Teaching

Course materials: slides, exercise sets and lecture notes (courses are taught in French).

Licence Undergraduate courses

Microéconomie

Microeconomics

Market, consumer and producer theory, and market structures from perfect competition to oligopoly.

20 chaptersOpen →

Mathématiques pour l'économie

Mathematics for Economists

Functions, optimization, linear algebra, sequences and series, and economic dynamics.

35 chaptersOpen →

Économie industrielle

Industrial Organization

Market structures, oligopoly models, game theory, entry barriers and competition policy.

8 chaptersOpen →

Statistique inférentielle

Inferential Statistics

Sampling distributions, confidence intervals for means and proportions, and hypothesis testing.

4 chaptersOpen →

Master Graduate courses

Économie monétaire et financière

Monetary and Financial Economics

Money supply and demand, interest rates, monetary policy and its transmission, banking, financial stability and public debt.

19 chaptersOpen →

Advanced Other courses

Advanced Microeconomics French
  1. Les marchés concurrentiels
    Slides
  2. Le monopole
    Slides
  3. La concurrence monopolistique et l'oligopole
    Slides
  4. Théorie des jeux : Introduction
    Slides
Econometrics
  1. Introduction to econometrics, simple linear regression
  2. Multivariate linear regression
    Slides Data
  3. Violation of simple linear regression assumptions
  4. Introduction to time series
  5. Unit-root tests
  6. ARDL
  7. Vector autoregressive (VAR) & VECM models
    Slides Data
  8. Spectral analysis
    Slides
DSGE Modeling
  1. Real business cycle theory
  2. Calibration & solving rational expectations models
  3. Introduction to New Keynesian DSGE modeling
    Slides Code
  4. Introduction to Dynare
  5. Estimation of a DSGE model
Business Cycles and Macroeconomic Stabilization Policies
  1. Materials coming soon.

Contact