تحديد اتجاه العلاقة بين مؤشرات السياسة النقدية و مؤشرات الاستقرار النقدي في الولايات المتحدة الأمريكية للمدة (1998-2014)‎

الملخص EN

The Research aimed to Study the impact of Monetary Policy Indicators which means different Measures of money Supply (Narrow M1 and Expand M2), and Federal Reserve interest Rate, three Month interest Rate, Real and Nominal Exchange Rate on the Indicators of the Monetary Stability of USA Economy (like money Stability factor, demand Surplus and money Supply Surplus) in the united states for the Period (1998- 2014).

Johansen – Juselius approach for co-integration equation, the error correction model (ECM) and Granger Causality approach was used to determine the direction of relationship and enter action effect between those variable.

The co-integration test was indicated a long run Equilibrium causality between the Expiatory variables and money stability indicators.

The Error correction model results showed the long and short run Equilibrium causality.

Granger causality test was indicating several directions between variables.