المجلة الدولية للاداء الاقتصادي
Volume 6, Numéro 2, Pages 495-519
2023-12-30
Authors : Meziani Elmahdi . Kherchi Medjden Hanya .
The objective of this study is to investigate the impact of unconventional monetary policy on inflation and economic growth in Algeria. To investigate this impact, we estimated a SVAR model, covering the period from 2006 to 2022 using quarterly data. The originality of this study is the use of the estimated dynamic effects of shocks (stylized facts) as a benchmark for assessing the effectiveness and pass-through of unconventional policies. Our results show that the shock induced by unconventional monetary policy is not transmitted to inflation, neither in the short run nor in the long run, even under theoretical restrictions. In addition, unconventional monetary shocks have no effect on real variables (economic growth).
SVAR ; unconventional monetary policy ; impulse responses ; short-run and long-run restrictions
Zahaf Youcef
.
Chibi Abderrahim
.
pages 392-407.
Khelili Fatma Zohra
.
Saoudi Mohamed
.
pages 479-496.
Khelifi Samiya
.
pages 254-270.
Hadjer Ould Hennia
.
pages 11-19.