الآثار الاقتصادية الكلية للسياسة النقدية في الجزائر : دراسة قياسية-للفترة 1980-2018

Abstract EN

Through this research paper, we tried to analyze the macroeconomic effects of monetary policy on the Algerian economy using the (SVAR) model during the period (1980-2018).

The results were as follows: The shock of oil prices results in contractionary effects on listed real and monetary variables, As for the impact of monetary policy, monetary authorities respond to inflationary pressures (High money supply) by raising the discount rate, while monetary shocks expressed in the money supply play an important role in interpreting the movement of output, price level, and trade balance, Whereas the effect of monetary action through monetary supply is greater than that of changes in the discount rate or exchange rate, after a positive monetary shock of the money supply the positive response to both output and price level is significant relative to the negative impact of shocks to the discount rate and the exchange rate.