Revue algérienne d'économie et gestion
Volume 18, Numéro 2, Pages 95-109
2024-12-02

The Instruments Of Monetary Policy In Algeria And The Efficacy Of The Policy Rate - Approach By The Ardl Model (1990-2022) –



Authors : Senai Asmaa .

Abstract

The focus of this research is on the relationship between policy rates and price stability in Algeria employing the ARDL approach and utilizing quarterly data from the first quarter of 1990 to the last quarter of 2022. The econometric analysis has confirmed the effectiveness of the policy rate by indicating that there is indeed a significant long-term relationship between the two variables, but this relationship is positive. This counter-intuitive result is confirmed by the evolution of the policy rate and inflation in the same direction overall in Algeria, and can also be explained by other factors that cited in our article.

Keywords

the monetary policy, ; instruments, ; the policy rate ; price stability ; the ARDL model

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