L'entreprise
Volume 13, Numéro 1, Pages 31-42
2024-07-25

Impact Of The Central Bank Independence And The Free Lunch Hypothesis: A Case Study Of The Bank Of Algeria.



Authors : Salah Nadine .

Abstract

This study has two main objectives. First, investigating the relationship between the Bank of Algeria’s real independence, as measured by the TOR indicator, and the general price index as a representative of the main objective of the Bank of Algeria, price stability. Secondly, testing the free lunch hypothesis in the Algerian case. The results showed on one hand that the Bank of Algeria’s real independence has a significant impact on the general price index, on the other hand we also prove that an improvement in the Bank of Algeria’s independence impacts the general price index without causing a decline in growth, which aligns with the free lunch hypothesis.

Keywords

Inflation ; Central Bank Independence, Index of the Central Bank independence ; Bank of Algeria

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