دور سياسة استهداف التضخم في الحد من تقلبات الناتج : دراسة تحليلية و قياسية لحالة الجزائر باستخدام نموذج ARDL

Abstract EN

This study aims to determine the impact of the inflation targeting policy on reducing output volatility in Algeria by analyzing the nature of the relationship between the evolution of inflation and the gap of GDP growth in Algeria, in addition to measuring this impact through a standard study using the ARDL model during the period 1980-2017.

We found that the Bank of Algeria considered 2011 as the first year to manage its monetary policy with an inflation targeting policy at a target inflation rate of 4% without fulfilling most of the basic requirements for implementing this policy, and it has not succeeded in reducing inflation rates after it is adopted Inflation policy.

The standard study showed that there is a negative and significant effect of the inflation rate on the output gap in the short and long term.

When the inflation rate falls, the output gap increases significantly, making inflation targeting policy ineffective in reducing the output volatility in Algeria.