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Impact Of Unconventional Financing On Economic Growth And Inflation In Algeria

Author

Listed:
  • Kherchi Medjden

    (ENSSEA - Ecole Nationale Supérieure de Statistique et d'Economie Appliquée [Tipaza])

  • Hanya Meziani Elmahdi

    (ENSSEA - Ecole Nationale Supérieure de Statistique et d'Economie Appliquée [Tipaza])

Abstract

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).

Suggested Citation

  • Kherchi Medjden & Hanya Meziani Elmahdi, 2023. "Impact Of Unconventional Financing On Economic Growth And Inflation In Algeria," Post-Print halshs-04521309, HAL.
  • Handle: RePEc:hal:journl:halshs-04521309
    Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-04521309
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