الأثر غير المتماثل لسعر الصرف الفعلي الحقيقي على الطلب النقدي في الجزائر

الملخص EN

This study aims to investigate the asymmetric effect of the real effective exchange rate on the demand of money in Algeria, for this purpose, we used the non-linear autoregressive distributed lag model (NARDL) by relying on monthly time series data covering the period from 2012: M01 to 2019: M12.

The empirical results have summarized that the real effective exchange rate affects the monetary demand in Algeria asymmetrically, so that the real depreciation of the Algerian dinar will lead to an increase in the monetary demand, and this was a confirmation the wealth effect does exist.

The real appreciation of the Algerian dinar will also lead to an increase in monetary demand, and this was a confirmation the expectation effect does exist.