دراسة قياسية لأثر العملة المتداولة خارج البنوك على مؤشر أسعار الاستهلاك في الجزائر

Abstract

The aim of this study was to measure and analyze the impact of currency in circulation outside banks on the Consumer Price Index in Algeria during 32 year. To achieve this goal, AnEconometric model was estimated within the framework of common integration, known as ARDL models, CPI was used as the dependent variable, while explanatory variables included (currency in circulation outside banks, money velocityand payroll). The study cocluded that there is a far-reaching balance currency in circulation outside banksand CPI at Algerian economy. We also concluded that if there is a one-unit currency shockwave, this impact on CPI position will last for a maximum period of about 3 years and 08 months until it is due to its normal position.