سعر الصرف التوازني السلوكي في الجزائر 1980-2015

Abstract EN

The aim of this paper is to estimate the Equilibrium real exchange rate (ERER) in Algeria, from 1980 to 2015 by applying the Behavioral Equilibrium Exchange Rate's approach.

we will use a co-integration method in order to see whether there is a long run relationship between the ERER and its fundamentals such as: terms of trade ,openness of trade ,net foreign assets, government spending, productivity.

To adapt the dependent variable's behavior in the short term with his behavior in the long term we will try to estimate the vector error correction model (VECM).Our findings showed that every increase of 01% in the terms of trade, openness of trade, government spending will lead to a decline in the real exchange rate by 0.75%, 0.99%, 1.43%, respectively, while all other variables were statistically no significant And since the coefficient of the vector error correction model also has been found no significant, the vector of error correction model (VECM) is rejected