المجلة المغاربية للإقتصاد و المانجمت
Volume 3, Numéro 2, Pages 172-186
2016-09-30

ميكانيزمات انتقال السياسة النقدية حالة الجزائر

الكاتب : حنان تلمساني . نريمان حلايلي .

الملخص

The present study has aimed to identify the transmission channel of the monetary policy on the local product and on the general level of prices in Algeria. In order to do so, we have applied the vector autoregressive model. Data has covered the period between 1990 and 2013.Results show that the interest rate, credit value and exchange rate channels studied in this paper are significantly important in indicating the negative impact of the monetary policy as represented by the discount rate. However, the effect of these channels impacts the price level only. .

الكلمات المفتاحية

the monetary policy, the interest rate channel, credit channel, exchange rate channel, VAR model