摘要：
Monetary policy contributes to stabilize growth. Particularly in a reforming context for financial and economic
activities, it is important to know how central bankers’ decisions through the short term interest rate of the money market
are transmitted to the real variables: the GDP and the inflation. Few studies on monetary transmission mechanisms deal
with the Maghreb countries. Structural VAR are used to investigate the importance of various monetary transmission
channels at a macro scale from convenient impulse response functions. As a result, the Tunisian central bank should
mainly target inflation, focussing the interest rate channel and the long-term interest rate as the principal transmission
variable.
