تقييم أداء السياسة النقدية في ضل تقلبات أسعار النفط في الاقتصاد الجزائري للفترة 2001-2015 باستخدام مقاربة أشعة الانحدار الذاتي الهيكلية SVAR

الملخص EN

This study aims to evaluate the performance of monetary policy under oil prices fluctuation for algerian economy in the period 2001 - 2015.

To do this The model SVAR (3) has been estimated on quarterly data and used the impulse response function and the variance decomposition.

The results showed that the positive oil price shock has a significant positive effect on output gap and positive nonstatistical significant effect on inflation.

For monetary policy, Unlike stated goals of the monetary authorities, the results showed the failure of monetary policy in the interaction with the target variables (inflation, output), while it’s recorded a positive and significant response to the oil prices shock.

These results proved that , durring the period of this study , the performance of monetary policy in Algeria, marked by limited effectiveness in reaching the desired results.