NDLI: External shocks and monetary policy in an oil exporting economy ( Algeria )

Content Provider	Semantic Scholar
Author	Allegret, Jean Pierre Benkhodja, Mohamed Tahar
Copyright Year	2015
Abstract	To investigate the dynamic effect of external shocks on an oil exporting economy, we estimate, using Bayesian approach, a DSGE model based on the features of the Algerian economy. We analyze the impulse response functions of our external shocks according to alternative monetary rules. The welfare cost associated with each monetary policy rule is considered. We find that, over the period 1990–2010, core inflation monetary rule allows better to stabilize both output and inflation. This rule also appears to be the best way to improve a social welfare. © 2015 Society for Policy Modeling. Published by Elsevier Inc. All rights reserved. JEL classification: E3; E5; F4
File Format	PDF HTM / HTML
Alternate Webpage(s)	http://isiarticles.com/bundles/Article/pre/pdf/45128.pdf
Language	English
Access Restriction	Open
Subject Keyword	Chronic progressive external ophthalmoplegia External auditory canal structure Money Rule (guideline) Scientific Publication Shock Social Welfare
Content Type	Text
Resource Type	Article

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