IMPACT OF UNCONVENTIONAL FINANCING ON ECONOMIC GROWTH AND INFLATION IN ALGERIA
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 t...
| Main Authors: | , |
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| Format: | Article |
| Language: | Arabic |
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University of Boumerdes
2023-12-01
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| Series: | المجلة الدولية للأداء الاقتصادي |
| Subjects: | |
| Online Access: | https://ijep.dz/index.php/IJEP/article/view/288 |
| _version_ | 1797257646823178240 |
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| author | Hanya KHERCHI MEDJDEN ELMAHDI MEZIANI |
| author_facet | Hanya KHERCHI MEDJDEN ELMAHDI MEZIANI |
| author_sort | Hanya KHERCHI MEDJDEN |
| collection | DOAJ |
| description |
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).
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| first_indexed | 2024-03-07T14:03:30Z |
| format | Article |
| id | doaj.art-e26f71a827b0480092ee33e479c0f41a |
| institution | Directory Open Access Journal |
| issn | 2661-7161 2716-9073 |
| language | Arabic |
| last_indexed | 2024-04-24T22:40:57Z |
| publishDate | 2023-12-01 |
| publisher | University of Boumerdes |
| record_format | Article |
| series | المجلة الدولية للأداء الاقتصادي |
| spelling | doaj.art-e26f71a827b0480092ee33e479c0f41a2024-03-19T05:06:31ZaraUniversity of Boumerdesالمجلة الدولية للأداء الاقتصادي2661-71612716-90732023-12-0162IMPACT OF UNCONVENTIONAL FINANCING ON ECONOMIC GROWTH AND INFLATION IN ALGERIAHanya KHERCHI MEDJDEN0ELMAHDI MEZIANI 1National School of Statistics and Applied Economics Kolea (Algeria)National School of Statistics and Applied Economics Kolea (Algeria) 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). https://ijep.dz/index.php/IJEP/article/view/288SVARunconventional monetary policyimpulse responsesshort-run and long-run restrictions |
| spellingShingle | Hanya KHERCHI MEDJDEN ELMAHDI MEZIANI IMPACT OF UNCONVENTIONAL FINANCING ON ECONOMIC GROWTH AND INFLATION IN ALGERIA المجلة الدولية للأداء الاقتصادي SVAR unconventional monetary policy impulse responses short-run and long-run restrictions |
| title | IMPACT OF UNCONVENTIONAL FINANCING ON ECONOMIC GROWTH AND INFLATION IN ALGERIA |
| title_full | IMPACT OF UNCONVENTIONAL FINANCING ON ECONOMIC GROWTH AND INFLATION IN ALGERIA |
| title_fullStr | IMPACT OF UNCONVENTIONAL FINANCING ON ECONOMIC GROWTH AND INFLATION IN ALGERIA |
| title_full_unstemmed | IMPACT OF UNCONVENTIONAL FINANCING ON ECONOMIC GROWTH AND INFLATION IN ALGERIA |
| title_short | IMPACT OF UNCONVENTIONAL FINANCING ON ECONOMIC GROWTH AND INFLATION IN ALGERIA |
| title_sort | impact of unconventional financing on economic growth and inflation in algeria |
| topic | SVAR unconventional monetary policy impulse responses short-run and long-run restrictions |
| url | https://ijep.dz/index.php/IJEP/article/view/288 |
| work_keys_str_mv | AT hanyakherchimedjden impactofunconventionalfinancingoneconomicgrowthandinflationinalgeria AT elmahdimeziani impactofunconventionalfinancingoneconomicgrowthandinflationinalgeria |