تقييم فعالية قناة سعر الفائدة في نقل آثار السياسة النقدية إلى القطاع الحقيقي في الجزائر : دراسة قياسية باستخدام نماذج SVAR للفترة (1990-2017)‎

الملخص EN

This Research paper aime to study and évaluâtes the loans interest rate channel in transmitting the effects of monetary policy to the real economy in Algeria, based on quarterly data for the period between (1990-2017).

To achieve this goal, a model consulting of the discount rate and money supply tools in the Broad sensé was initiale used as indicateurs that express monetary policy, the interest rate on loans as an indicator expressing the interest rate channel, as well as the non-oil real output and the consumer price index as indicateurs that représente the real economy.

In Algeria, using Self-Regression Vector Models (SVAR).

The results of the standard study showed, Through the structural response functions and the variance analysis, that the interest rate channel on loans is ineffective in transferring the effects of monetary policy to the real non-oil output, and it is relatively effective in transferring this effect to the consumer price index in Algeria, and this is consistent.

With the economic logic.