قياس العلاقة بين مزاد العملة و الاحتياطيات الدولية في العراق باستخدام انموذج الانحدار الذاتي للابطاء الزمني الموزع (ARDL)‎

Abstract EN

The monetary authority has adopted a policy of targeting inflation in order to maintain monetary stability in the country, it was used to achieve its nominal exchange rate target, due to the economy and financial fragility and the separation of the real sector from the cash which makes the traditional channels do not meet the impact of monetary policy interest rate is largely ineffective, the monetary authority succeeded in using the currency sale window to control the exchange rate and to reduce the exchange gap between the official price and the parallel price, and then keep the exchange rate relatively stable for the duration 2016-2003 thus stabilizing prices and purchasing power in the economy, the success of this tool was at the expense of the pressure on the international reserves of the central bank in light of the large consumer spending by the government, as opposed to declining oil revenues which are the sole source of foreign exchange