Maroc, Une Ėconomie Sous Plafond de Verre ? Lien Entre Taux Directeur et Inflation

L'inflation est l'augmentation générale et soutenue des prix des biens et services dans une économie. Réduire l’inflation revient souvent à réduire la demande par une hausse du taux directeur. Cette politique monétaire est appelée Hawkish. En effet, Bank Al-Maghrib suit de près l'évolution de l'inflation et ajuste sa politique monétaire en conséquence pour maintenir la stabilité des prix et stimuler la croissance économique. Après un taux d’inflation de 8,3% observé en septembre 2022, soit le taux le plus élevé depuis février 1992, il est donc légitime de se pencher sur la question en analysant l’éventuelle existence d’un lien entre hausse du taux directeur et maitrise de l’inflation. Si oui, quel est donc ce lien ? Les politiques monétaires actuelles sont-elles efficaces au Maroc ? Et puis enfin l’inflation, est-elle réellement endogène ou est-elle plutôt importée du fait de la structure des échanges commerciaux du Royaume ? Pour répondre à ces questionnements, nous avons d’abord commencé par une étude documentaire, complétée par une compilation de données chiffrées sur 21 trimestres, soit de 2018 à 2023. Nous avons ensuite élaboré un modèle de régression linéaire par la méthode des moindres carrés. Les résultats obtenus ont été surprenants car nous avons soulevé ce que nous estimons être, à notre sens, une relative inefficacité de la politique monétaire puisque les taux directeurs ont été relevés que de fois et pourtant l’inflation en faisait de même… Cette inflation est-elle donc vraiment intrinsèque à notre structure économique ?   Inflation is the general and sustained increase in the price of goods and services within a given economy. Curbing inflation often means reducing demand by raising the policy rate. This monetary policy is called Hawkish. Indeed, Bank Al-Maghrib closely monitors inflation development and adjusts its monetary policy accordingly to stimulate economic growth. After an inflation rate of 8.3% observed in September 2022, i.e. the highest rate since February 1992, e deemed it legitimate to look into the matter by examining the possible existence of a connection between an increase in the policy rates and inflation. If so, what could that relation be? Are current monetary policies effective in Morocco? Is inflation endogenous, or is it rather imported, given trade structure in our Kingdom? To answer these questions, we first started with a documentary study, supplemented by a compilation of figures for 21 quarters, starting from 2018 until 2023. We then developed a linear regression model using the least squares method. The results obtained were surprising because we outlined what we consider to be, in our opinion, a relative ineffectiveness of the monetary policy, since policy rates have been raised times and times again yet inflation did the same... In a gist, could inflation truly be intrinsic to our economic structure

Maroc, Une Ėconomie Sous Plafond de Verre ? Lien Entre Taux Directeur et Inflation

L'inflation est l'augmentation générale et soutenue des prix des biens et services dans une économie. Réduire l’inflation revient souvent à réduire la demande par une hausse du taux directeur. Cette politique monétaire est appelée Hawkish. En effet, Bank Al-Maghrib suit de près l'évolution de l'inflation et ajuste sa politique monétaire en conséquence pour maintenir la stabilité des prix et stimuler la croissance économique. Après un taux d’inflation de 8,3% observé en septembre 2022, soit le taux le plus élevé depuis février 1992, il est donc légitime de se pencher sur la question en analysant l’éventuelle existence d’un lien entre hausse du taux directeur et maitrise de l’inflation. Si oui, quel est donc ce lien ? Les politiques monétaires actuelles sont-elles efficaces au Maroc ? Et puis enfin l’inflation, est-elle réellement endogène ou est-elle plutôt importée du fait de la structure des échanges commerciaux du Royaume ? Pour répondre à ces questionnements, nous avons d’abord commencé par une étude documentaire, complétée par une compilation de données chiffrées sur 21 trimestres, soit de 2018 à 2023. Nous avons ensuite élaboré un modèle de régression linéaire par la méthode des moindres carrés. Les résultats obtenus ont été surprenants car nous avons soulevé ce que nous estimons être, à notre sens, une relative inefficacité de la politique monétaire puisque les taux directeurs ont été relevés que de fois et pourtant l’inflation en faisait de même… Cette inflation est-elle donc vraiment intrinsèque à notre structure économique ?   Inflation is the general and sustained increase in the price of goods and services within a given economy. Curbing inflation often means reducing demand by raising the policy rate. This monetary policy is called Hawkish. Indeed, Bank Al-Maghrib closely monitors inflation development and adjusts its monetary policy accordingly to stimulate economic growth. After an inflation rate of 8.3% observed in September 2022, i.e. the highest rate since February 1992, e deemed it legitimate to look into the matter by examining the possible existence of a connection between an increase in the policy rates and inflation. If so, what could that relation be? Are current monetary policies effective in Morocco? Is inflation endogenous, or is it rather imported, given trade structure in our Kingdom? To answer these questions, we first started with a documentary study, supplemented by a compilation of figures for 21 quarters, starting from 2018 until 2023. We then developed a linear regression model using the least squares method. The results obtained were surprising because we outlined what we consider to be, in our opinion, a relative ineffectiveness of the monetary policy, since policy rates have been raised times and times again yet inflation did the same... In a gist, could inflation truly be intrinsic to our economic structure

Video retrieval with CNN features

International audienceConvolutional neural network features are becoming the norm in instance retrieval. This work investigate the relevance of using an of the shelf object detection network like Faster R-CNN as a feature extractor. We build an Image-to-video face retrieval pipeline composed of filtering and re-ranking that uses the objects proposals learned by a Region Proposal Network (RPN) and their associated representations taken from a CNN. Moreover we study the relevance of features from a finetuned network. The results obtained are very promisin

CONSTRUINDO PODER E CONFIANÇA: O PAPEL DA TRADUÇÃO NA DIVULGAÇÃO DE INFORMAÇÕES EM MÍDIAS SOCIAIS NA ERA DA COVID-19 NO MARROCOS

This paper falls within a conjunction of translation studies, crisis communication, and social media communication. It sheds light on the critical role of translation in crisis management, with a focus on how the aforementioned elements of scrutiny converge and collaborate in the milieu of the outraging global pandemic. Likewise, the paper seeks to reveal the way translating information and information exchange enhances public trust.  Therefore, it emphasizes how discourse can heavily contribute to building trust during a global health emergency and how translation can offer power to the source language/culture by relocating its emanating knowledge to the rest of the world. Likewise, the paper seeks to discuss the way translating information and information exchange enhances public trust. The present paper is a qualitative study that recovers data from selected translated discourses imparted by organizations as well as a questionnaire inquiring about the communicative content disseminated through social media networks during the COVID-19 pandemic. The article scrutinizes the data in terms of content, based on communication content analysis to shed light on how translation could be a powerful tool of relocating meaning production in establishing trust and the extent to which social media is effective as a crisis management mechanism. The further aim of this study is to demonstrate how internet communities and networking technologies can influence deep-rooted forms of communication adopted by governments and the way social media dynamics enhance or undermine the information-translation process at times of crisis. The preliminary data, contrary to what has been assumed, shows that non-expert reactions, attitudes, feelings, experiences, and trends are transmitted via social media and algorithmically analyzed, influencing the information cycle in real time. The networked-translation paradigm focuses less on a one-to-many communication style that uses language, context, and reasoning to persuade receivers and more on a many-to-many communication style that uses audiovisual means to mobilize crowds. (Van Dijck & Alinejad, 2020)Este artigo se insere em uma conjunção de estudos de tradução, comunicação de crise e comunicação em mídias sociais. Ele lança luz sobre o papel crítico da tradução na gestão de crises, com foco em como os elementos mencionados convergem e colaboram no contexto da pandemia global em curso. Além disso, o artigo busca revelar como a tradução de informações e a troca de informações aprimoram a confiança pública. Portanto, enfatiza como o discurso pode contribuir significativamente para a construção de confiança durante uma emergência de saúde global e como a tradução pode conferir poder à língua/cultura de origem ao relocar seu conhecimento para o restante do mundo. Da mesma forma, o artigo busca discutir como a tradução de informações e a troca de informações aprimoram a confiança pública. O presente artigo é um estudo qualitativo que recupera dados de discursos traduzidos selecionados por organizações, bem como um questionário que investiga o conteúdo comunicativo divulgado por meio de redes de mídia social durante a pandemia de COVID-19. O artigo analisa os dados em termos de conteúdo, com base na análise de conteúdo da comunicação, a fim de lançar luz sobre como a tradução pode ser uma ferramenta poderosa para relocar a produção de significado na construção da confiança e até que ponto as mídias sociais são eficazes como um mecanismo de gestão de crises. O objetivo adicional deste estudo é demonstrar como comunidades virtuais e tecnologias de rede podem influenciar formas arraigadas de comunicação adotadas por governos e como a dinâmica das mídias sociais aprimora ou prejudica o processo de informação e tradução em momentos de crise. Os dados preliminares, ao contrário do que se presumia, mostram que reações, atitudes, sentimentos, experiências e tendências não especializadas são transmitidos por meio das mídias sociais e analisados algoritmicamente, influenciando o ciclo de informações em tempo real. O paradigma de tradução em rede se concentra menos em um estilo de comunicação de um-para-muitos que usa linguagem, contexto e raciocínio para persuadir os receptores e mais em um estilo de comunicação de muitos-para-muitos que usa meios audiovisuais para mobilizar multidões. (Van Dijck & Alinejad, 2020

CHEMICAL COMPOSITION, ANTIMICROBIAL, AND ANTIOXIDANT ACTIVITIES OF TWO MOROCCAN THYMUS ESSENTIAL OILS

Objective: The aim of the present study is to investigate chemical constituents of Thymus riatarum and Thymus blecherianus essential oils (EOs) as well as to evaluate, for the first time, their antioxidant effect and antibacterial activity against six bacterial strains responsible for nosocomial infections.Methods: The chemical composition of EOs was analyzed using gas chromatography (GC) and GC-mass spectrometry, the antibacterial capacity of the two thymus species was evaluated against six bacteria species: Escherichia coli, Pseudomonas aeruginosa, Klebsiella pneumonia, Staphylococcus aureus, Acinetobacter baumannii, and Citrobacter sp. using disk diffusion method and microdilution assay. Finally, the antioxidant activity was measured by four different test systems of assay, namely free radical scavenging activities, ferric reducing/antioxidant power assays, total phenolic, and flavonoid contents.Results: A total of 15 compounds representing 99.6% of T. riatarum oil were identified with thymol (28.8%), borneol (20.0%), and α-phellandrene (13.0%) as the main constituents. Eleven components of T. blecherianus were identified representing 98.2% of the total oil composition; the most abundant constituents were as follows: Carvacrol (45.9%), bornyl acetate (20.1%), and borneol (15.7%). Strong antibacterial activity of the two EOs was identified against all bacterial strains tested. Concerning the antioxidant results, T. riatarum EO exhibited higher antioxidant activity than T. blecherianus in the three assays with an IC50 value equal to 5.75±0.06 mg/ml, which was probably due to its high content of polyphenols (28.95±0.13 mg GAE/g DW). Total flavonoid content was found equal for the two EOs.Conclusion: EO of T. riatarum and T. blecherianus from Morocco can be exploited as a natural antibacterial and antioxidant new potential sources

Nouvelle approche neuronale Faster R-CNN pour la recherche d’instances d’images

Les caractéristiques d'images dérivées des réseaux neuronaux convolutifs (CNN) pré-entrénés sont devenues la norme dans les tâches de vision par ordinateur telle que la récupération d'instances. Ce travail explore la pertinence de la récupération de caractéristiques d'images et de régions à partir d'un CNN de détection d'objets tel que Faster R-CNN. Nous profitons des propositions d'objets appris par un RPN (Region Proposal Network) et de leurs caractéristiques associées prises d’un CNN pour construire un pipeline de recherche d'instances composées d’un filtrage puis d’un reclassement. Plus encore, nous étudions la pertinence des caractéristiques de Faster R-CNN lorsque le réseau est affiné pour les mêmes objets que ceux qu’on veut récupérer. Nous évaluons la performance du système avec les deux datasets: Oxford Buildings 5k et Paris Buildings 6k. Les résultats obtenus par notre algorithme comparé avec d’autres techniques sont encourageants

ANTIOXIDANT ACTIVITIES AND TOTAL PHENOLIC AND FLAVONOID CONTENT VARIATIONS OF LEAF EXTRACTS OF LAURUS NOBILIS L. FROM MOROCCO

Objective: The present study was undertaken to determine antioxidant activity and total phenolic and flavonoid content of ethanol, methanol, ethyl acetate, and aqueous extracts of the leaves of Laurus nobilis L.Methods: Antioxidant properties were measured using three tests: Free radical scavenging activity against 2,2-diphenyl picrylhydrazyl (DPPH), reduction of molybdate, and reducing (Fe3+/Fe2+) power. Total phenolic and flavonoid content was measured by Folin–Ciocalteu and rutin reagent, respectively.Results: The results showed that both the ethanol and water extracts had greater antioxidant activity than ethyl acetate. Aqueous extract exhibited a higher DPPH radical scavenging and reducing molybdate 545.83±5.89 mg equivalent to ascorbic acid/g dry extract. The strong antioxidant activity of water extract was probably due to its high content of phenols. Furthermore, ethanol and water extracts showed higher total flavonoid content with the values: 153.33±3.59 and 127.25±2.60 mg equivalent rutin/g dry extract, respectively.Conclusion: Our results suggested a potent and excellent antioxidant activity of L. nobilis L. extracts of Morocco. Further research has to be done to isolate the pure bioactive compound and could be considered as a potential source of biomolecules for pharmaceutical and food industry

CHEMICAL COMPOSITION OF ESSENTIAL OILS FROM VITEX AGNUS-CASTUS L. GROWING IN MOROCCO AND ITS IN VITRO ANTIBACTERIAL ACTIVITY AGAINST CLINICAL BACTERIA RESPONSIBLE FOR NOSOCOMIAL INFECTIONS

Objective: The aim of the current study is to determine the chemical composition and evaluate antibacterial activity of Vitex agnus-castus L. (VAC) essential oils against some bacteria causing nosocomial infections in the neonatal and intensive care rooms at the university hospital center of Fez Morocco. Methods: The phytochemical screening of essential oils was determined using gas chromatography (GC) and GC-mass spectrometry analysis. The antibacterial test was evaluated against Gram-positive bacteria Staphylococcus aureus and Gram-negative bacteria species (Escherichia coli, Klebsiella pneumoniae, Pseudomonas aeruginosa, and Proteus mirabilis) using disc diffusion method. Results: Twenty-nine components were identified in the fruits' oil representing 93.1% of total oil. The major components in the fruits oil are 1,8-cineole (11.6%), α-thujene (9.3%), phyllocladene (8.2%), α-pinene (7.9%), caryophyllene (5.9%), and cubenol (5%). Furthermore, 28 components were identified in the leaf essential oil. The main component was caryophyllene (9.5%), followed by 1,8-cineole (8.7%), manoyl oxide (7.3%), eugenyl acetate (7.1%), phyllocladene (6.8%), and α-pinene (5.2%). Antibacterial activity of both oils showed a strong activity against nosocomial bacteria tested. Conclusion: Essential oils of Moroccan VAC could be exploited as natural drugs for bacteria, especially those who have acquired resistance to conventional antibiotics

UPC-USMBA at SemEval-2017 Task 3: Combining multiple approaches for CQA for Arabic

This paper presents a description of the participation of the UPC-USMBA team in the SemEval 2017 Task 3, subtask D, Arabic. Our approach for facing the task is based on a performance of a set of atomic classifiers (lexical string-based, vectorial, and rule-based) whose results are later combined. Our primary submission has obtained good results: 2nd (from 3 participants) in MAP, and 1st in inaccuracy.Peer ReviewedPostprint (published version

A ESFERA DE TOMADA DE DECISÃO EM SITUAÇÕES DE CRISE: A RELAÇÃO ENTRE GESTÃO E ESPECIALISTA (O PARÂMETRO CONFIANÇA)

The health crisis, like any other crisis, is an unexpected event that has triggered a series of dysfunctions. Its emergence and spread did not allow states enough time to prepare to deal with the fallout from this crisis. The COVID phenomenon exposed the reality of the decision-making process within institutions. It revealed the dysfunction in the crisis management process, which aimed to make decisions capable of protecting states and reducing the overall impact of the crisis. However, we cannot ignore the complexity of the decision-making process, which derives its complexity from several factors such as the quality of available information, the diversity of conceivable options, and uncertainty. In a crisis situation, the decision-making process becomes increasingly complex because the factor of "time" is limited or even nonexistent. This makes the ability to make decisions delicate in the face of challenges, and the existence of a probability of failure that was hardly tolerable during a health crisis. Aware of this complexity, institutions have established an entity that we can describe as the decision-making sphere, composed of management and experts. Management provides a global vision and a strategic perspective, considering all aspects related to the organization, such as reputation, financial aspects, and operational aspects. Meanwhile, experts provide information based on their experience and expertise. Their input is crucial in a crisis situation, as experts, thanks to their expertise, have the ability to provide well-founded recommendations that management can benefit from in making informed decisions. These two components cannot operate separately and must be capable of collaborating and cooperating, showing flexibility and adaptability to achieve the desired outcome: surviving the crisis. The purpose of this article is to explore the components of the decision-making sphere in times of crisis and to demonstrate the relationship that must be formed between management and experts in a crisis situation.A crise sanitária, como qualquer outra crise, é um evento inesperado que trouxe à tona uma série de disfunções. Sua ocorrência e disseminação não deram tempo suficiente aos Estados para se prepararem para lidar com as consequências dessa crise. O fenômeno da COVID-19 revelou a realidade do processo de tomada de decisão das instituições. Foi um revelador das disfunções relacionadas ao processo de gestão de crises, que tinha como objetivo tomar decisões capazes de proteger os Estados e reduzir as consequências da crise como um todo. No entanto, não podemos ignorar a complexidade do processo de tomada de decisão, que é complexo devido a vários fatores, como a qualidade das informações disponíveis, a diversidade das opções possíveis e a incerteza. Em situações de crise, o processo de tomada de decisão se torna ainda mais complexo, pois o fator "tempo" é restrito, senão inexistente. Isso torna a capacidade de tomar decisões delicadas diante dos desafios e a existência de uma probabilidade de falha que não era tolerável durante uma crise sanitária. Conscientes dessa complexidade, as instituições criaram uma entidade que podemos descrever como a esfera de tomada de decisão, composta pela gestão e pelo especialista. A gestão fornece uma visão geral e uma perspectiva estratégica, levando em consideração todos os aspectos relacionados à organização, como reputação, aspectos financeiros e operacionais. Enquanto o especialista fornece informações com base em sua experiência e conhecimento especializado. Suas opiniões são, portanto, essenciais em situações de crise, e graças à sua experiência, os especialistas têm a capacidade de fornecer recomendações embasadas que a gestão pode utilizar para tomar decisões informadas. Esses dois componentes não podem operar separadamente e devem ser capazes de colaborar e cooperar, demonstrando flexibilidade e adaptabilidade para alcançar o resultado desejado: sobreviver à crise. O objetivo deste artigo é explorar os componentes da esfera de tomada de decisão em tempos de crise e demonstrar a relação que deve ser estabelecida entre a gestão e o especialista em situações de crise.La crise sanitaire comme tout autre crise est un événement inattendu qui a éveillé une série de dysfonctionnent, son apparition et sa propagation n'a pas laisser de temps aux etats de se préparer pour faire face au retombé de cette crise. Le phénomène du covid a dénudé la réalité sur le processus décisionnelle des institutions. C'était le révélateur du disfonctionnement lié au processus de gestion de crise, qui avait pour objectif de prendre les décisions capables de protéger les etats et de diminuer les retombées de la crise en sa globalité. Néanmoins nous ne pouvons pas ignorée la complexité liée au processus de prise de décision qui tire sa complexité de plusieurs facteurs tels que : la qualité de l'information disponible, la diversité des options envisageable et l'incertitude. En situation de crise le processus de prise de décision devin de plus en plus complexe car le facteur « temps » est restreint voir inexistent. Ce qui rend la capacité de prendre les décisions délicates face aux enjeux et l'exitance d'une probabilité d'échec qui n'était guère tolérable en période de crise sanitaire. Conscient de cette complexité les institutions ont constitué une entité que nous pouvons décrire comme étant la sphère décisionnelle, composée du management et de l'expert. Le management apporte une vision globale et perspective stratégique en prenant en considération tous les aspects liés à l'organisation tel que la réputation, l'aspect financier et l'aspect opérationnelle. Tandis que l'expert fournis des information basés sur son expérience et son expertise. Leur avis est donc primordial en situation de crise, qui grâce à leur expertise, les experts sont dotés de la capacité de fournir des recommandations fondées dont le management pourra bénéficier pour élaborer des décisions informées. Ces deux composantes ne peuvent pas opérer séparément et doivent être en capacité de collaborer et coopérer et faire preuves de flexibilité et d'adaptabilité afin d'aboutir à la finalité escomptée : survivre face à la crise. l'intérêt de cette article  est d'explorer les composantes de la sphère décisionnelle en période de crise et de démontrer la relation qui doit se former entre le management et l'expert en situation de crise.A crise sanitária, como qualquer outra crise, é um evento inesperado que trouxe à tona uma série de disfunções. Sua ocorrência e disseminação não deram tempo suficiente aos Estados para se prepararem para lidar com as consequências dessa crise. O fenômeno da COVID-19 revelou a realidade do processo de tomada de decisão das instituições. Foi um revelador das disfunções relacionadas ao processo de gestão de crises, que tinha como objetivo tomar decisões capazes de proteger os Estados e reduzir as consequências da crise como um todo. No entanto, não podemos ignorar a complexidade do processo de tomada de decisão, que é complexo devido a vários fatores, como a qualidade das informações disponíveis, a diversidade das opções possíveis e a incerteza. Em situações de crise, o processo de tomada de decisão se torna ainda mais complexo, pois o fator "tempo" é restrito, senão inexistente. Isso torna a capacidade de tomar decisões delicadas diante dos desafios e a existência de uma probabilidade de falha que não era tolerável durante uma crise sanitária. Conscientes dessa complexidade, as instituições criaram uma entidade que podemos descrever como a esfera de tomada de decisão, composta pela gestão e pelo especialista. A gestão fornece uma visão geral e uma perspectiva estratégica, levando em consideração todos os aspectos relacionados à organização, como reputação, aspectos financeiros e operacionais. Enquanto o especialista fornece informações com base em sua experiência e conhecimento especializado. Suas opiniões são, portanto, essenciais em situações de crise, e graças à sua experiência, os especialistas têm a capacidade de fornecer recomendações embasadas que a gestão pode utilizar para tomar decisões informadas. Esses dois componentes não podem operar separadamente e devem ser capazes de colaborar e cooperar, demonstrando flexibilidade e adaptabilidade para alcançar o resultado desejado: sobreviver à crise. O objetivo deste artigo é explorar os componentes da esfera de tomada de decisão em tempos de crise e demonstrar a relação que deve ser estabelecida entre a gestão e o especialista em situações de crise