مجلة الدراسات التجارية والاقتصادية المعاصرة
Volume 6, Numéro 1, Pages 109-117
2023-01-15

Currency Substitution Monetary Model In Algeria -an Empirical Analysis-



Authors : Tergou Mohamed .

Abstract

The article attempts to investigate the estimation of Equilibrium exchange rate in Algeria during period (1995-2020), using the Currency substitution Monetary Model, by applied the Bounds Test of ARDL co-integration model, The Unit Root Testing (ADF) conceded the integration of the variables at (0) order and (1), We estimate the selected model an ARDL(1,0,1,3) and it long-run; short-term relationships, The results shows the long-run relationships with Exchange rate is adjusted towards the equilibrium within four (4) years. In short-term there are Current and Future effect of monetary supply difference gap, and no effect by GDP gap on the exchange rate, also; the result shows the superiority of the monetary effect against the reel effect on the equilibrium exchange rate in Algeria.

Keywords

Currency substitution ; Monetary Models ; Equilibrium exchange rate ; ARDL method ; Algerian dinar

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