التأثيرات المتماثلة و غير المتماثلة لسعر النفط على سعر صرف الدينار الجزائري

Abstract EN

This experimental study aims to explore the determinants of the equilibrium real exchange rate of the Algerian dinar using «auto regressive distributed Lag / ARDL» and non-linear / NARDL models over the period from 1985 to 2018.

the results concluded that there is an asymmetry of negative and positive oil price shocks in the short term.

while in the long term symmetry occurs.

whereas, the new long-term equilibrium of the Algerian dinar exchange rate after an asymmetric shock in the oil price is not reached monotonically.

instead of converging monotonically, the error-correction process oscillates around the new long-run equilibrium in a dampening manner as underlined by Narayan and Smyth (2006).

once the process is complete, the convergence to the equilibrium is fast.