أثر السياسة النقدية على استقرار سعر الصرف في الجزائر : دراسة قياسية باستخدام نماذج أشعة الانحدار الذاتي (VAR)‎ خلال الفترة 1990-2015

الملخص EN

The aim of this research to study the effect of monetary policy on the stability of exchange rates in Algeria during the period 1990-2015 using vector regression models, variance analysis and response functions.

The study showed a mixed exchange rate model comprising monetary policy instruments (discount rate, legal reserve rate ,real interest rate) , in addition to the consumer price index and gross domestic product, money supply in a broad sense, and concluded that the money supply and the rate of the legal reserve has the highest predictive capacity of other variables in predicting the mistake to predict the exchange rate and therefore the variables that do not affect the same level in the interpretation of the official changes in exchange rates in Algeria