Abstract
This study estimates the money demand function in Algeria
during the period from 1970 to 2014.Specifically, the existence of a stable
long-run demand for money function, while accounting for the possibility of
structural breaks is investigated. The estimation results indicate that long
run relationship exists between money demand, real income, interest rate and
exchange rate in Algeria, while taking account of a possibility of structural
changes affecting the macroeconomic aggregates used. The CUSUMSQ test provides
evidence of a stable money demand function. The paper infers that since the
relationship among the variables holds over a fairly long period of time, the
estimated money demand model provides important foundations for monetary policy
setting in Algeria.
Keywords: Money demand, Algeria, structural
breaks, stability.
ÕÎáã
áãÇæÚáÇ
ãå ÏíÏÍÊ
ááÇÎ äã 2014-1970
ÉÑÊáÇ äãÖ
ÑÆÇÒÌáÇ í
ÏæÞäáÇ ìáÚ
ÈáØáÇ ÉáÇÏ
ÊÇÏÏÍã
ÉÓÇÑÏáÇ
ÊáæÇäÊ
ÑáÇæÏáÇ
áÈÇÞã
ÑÇäíÏáÇ ÑÕ
ÑÚÓæ ÉÏÆÇáÇ
áÏÚã
íÞíÞÍáÇ
áÎÏáÇ í ÉáÇÏ
åÑÇÈÊÚÇÈ
ßáÐæ ÏæÞäáÇ
ìáÚ ÈáØáÇ í
ÑËÄÊ íÊáÇ
ÊÇãÒáá ÇÑÙä
ÉÌÐãäáÇ í
ÉãÏÎÊÓãáÇ
ÊÇÑíÛÊãáÇ
áßíå í
ÊÇÚÇØÞäÇ
ÏæÌæ
ÊÇíäÇßãÅ
ÑÇÈÊÚáÇÇ
äíÚÈ ÐÎáÇ ãÊ
ÏÞáæ .íß
íÑãáÇ ÊÕáÎæ
ÉíÏÇÚáÇ
ÊÇÚÈÑãáÇ
ÉÞíÑØ
ãÇÏÎÊÓÇÈ
ÈáØáÇ ÉáÇÏ
ÑíÏÞÊ ãÊ ÏÞæ
.ÉÏÏÍãáÇ
ÉÑÊáÇ ááÇÎ
íäØæáÇ
ÏÇÕÊÞáÇÇ
ÇåÏåÔ íÊáÇ
|
.ÉÓÇÑÏáÇ
ÚæÖæã
ÊÇÑíÛÊã
|
äíÈ Çã
|
ìÏãáÇ
|
ÉáíæØ
|
ÉÑÞÊÓã
|
ÉÞáÇÚ
ÏæÌæ ìáÅ
|
ÉÓÇÑÏáÇ
|
|
.ÑÆÇÒÌáÇ
ÉíÏÇÚáÇ
ÊÇÚÈÑãáÇ
ÉÞíÑØ
|
ÏæÞäáÇ
|
ìáÚ
|
ÈáØáÇ
|
íÏÞäáÇ
|
ÑÇÑÞÊÓáÇÇ
:ÉáÇÏáÇ
|
ÊÇãáßáÇ
|
| 
