4.2.2 Econometric analysis of the impact
of monetary policy on Consumer Price Index
In this part of the study, we use econometric tools in order
to analyze the impact of monetary policy on Consumer Price Index. The money
supply M2, the nominal interest rate and the nominal exchange rate are used as
independent variables in order to measure their impact on CPI. Then, we want to
check whether the monetary policy causes inflation or not.
4.2.2.1 Analysis of stationarity for different variables
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