A Monetary Policy Model Without Money For India

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A Monetary Policy Model Without Money For India

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Author : Michael Debabrata Patra
language : en
Publisher: International Monetary Fund
Release Date : 2010-08-01

A Monetary Policy Model Without Money For India written by Michael Debabrata Patra and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-08-01 with Business & Economics categories.

A New Keynesian model estimated for India yields valuable insights. Aggregate demand reacts to interest rate changes with a lag of at least three quarters, with inflation taking seven quarters to respond. Inflation is inertial and persistent when it sets in, irrespective of the source. Exchange rate pass-through to domestic inflation is low. Inflation turns out to be the dominant focus of monetary policy, accompanied by a strong commitment to the stabilization of output. Recent policy actions have raised the effective policy rate, but the estimated neutral policy rate suggests some further tightening to normalize the policy stance.

Monetary Policy And Inflation In India

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Author : Chand Sunil Nagpal
language : en
Publisher:
Release Date : 1982

Monetary Policy And Inflation In India written by Chand Sunil Nagpal and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1982 with Inflation (Finance) categories.

Alternative Monetary Policy Rules For India

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Author : Michael Debabrata Patra
language : en
Publisher: International Monetary Fund
Release Date : 2012-05-01

Alternative Monetary Policy Rules For India written by Michael Debabrata Patra and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-05-01 with Business & Economics categories.

This paper empirically evaluates the operational performance of the McCallum rule, the Taylor rule and hybrid rules in India over the period 1996-2011 using quarterly data, with a view to analytically informing the conduct of monetary policy. The results show that forward-looking formulations of both rules and their hybrid version - setting a nominal output growth objective for monetary policy with an interest rate instrument - outperform contemporaneous and backward-looking specifications, especially when targeting core components of GDP and inflation, and combine the best parts of efficiency and discretion.

Inflation Expectations And Monetary Policy In India

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Author : Michael Debabrata Patra
language : en
Publisher: International Monetary Fund
Release Date : 2010-04-01

Inflation Expectations And Monetary Policy In India written by Michael Debabrata Patra and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-04-01 with Business & Economics categories.

This paper pursues a computationally intensive approach to generate future inflation, followed by an exploration of the determinants of inflation expectations by estimating a new Keynesian type Phillips curve that takes into account country-specific characteristics, the stance of monetary and fiscal policies, marginal costs and exogenous supply shocks. The empirical results indicate that high and climbing inflation could easily seep into people’s anticipation of future inflation and linger. There is a reputational bonus for monetary policy to act against inflation now rather than going for cold turkey when societal compulsions reach a critical mass.

Money And Monetary Policy In Less Developed Countries

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Author : Warren L. Coats
language : en
Publisher: Pergamon
Release Date : 1980

Money And Monetary Policy In Less Developed Countries written by Warren L. Coats and has been published by Pergamon this book supported file pdf, txt, epub, kindle and other format this book has been release on 1980 with Business & Economics categories.

Money and Monetary Policy in Less Developed Countries: A Survey of Issues and Evidence focuses on monetary policy, the financial intermediation process, and the role of money in economic development in less developed countries (LDCs). Topics covered include financial development and economic growth in underdeveloped countries; instruments and techniques used in the implementation of monetary policy: and econometric policy models.

Advanced Study In Money And Banking

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Author : Perminder Khanna
language : en
Publisher: Atlantic Publishers & Dist
Release Date : 2005

Advanced Study In Money And Banking written by Perminder Khanna and has been published by Atlantic Publishers & Dist this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Banks and banking categories.

The Book Advanced Study In Money & Banking : Theory & Policy Relevance In The Indian Economy Is A Complete Treatise On Banking And Global Financial Developments With Special Reference To Dmcs And The Indian Economy. It Provides An Invaluable, Up-To-Date And Refreshing Approach To Key Development Issues Pertaining To Monetary Theory, Banking, And Policy Matters. The Theoretical, Institutional And Historical Approaches Have Been Skilfully Integrated To Explore And Elucidate The Interrelationships Of Money And Banking And The Functioning Of The Economy As A Whole. The Analytical Study Of The Main Operational Ratios Of Banks For The Period 1998 To 2003 Gives An Overview Of The Bank Street Scenario. In Its Wide Perspective, The Book Includes A Comprehensive Study Of Banking And Information Technology, Mechanism Of International Payments, And International Monetary Policies And Monetary Cooperation. Above All, Against The Backdrop Of Economic Uncertainty And The Low Ebb In Economic Activity, Volatility In Stock Markets And Significant Fluctuations In Major Currencies Of The World, The Indian Monetary Policy During The Period Of 1952-2003 Has Been Extensively Discussed. Simple Graphs And Up-To-Date Economic Models Provided In The Book Enable The Readers To Have An Easy And Accurate Understanding Of The Subject.The Book Would Be Of Great Interest And Use For Students And Teachers Of Economics, Commerce And Business Management. The Bankers And Legislators Concerned With Monetary And Banking Policies Would Find The Book Highly Useful.

Monetary Transmission In Developing Countries

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Author : Ms.Prachi Mishra
language : en
Publisher: International Monetary Fund
Release Date : 2016-09-07

Monetary Transmission In Developing Countries written by Ms.Prachi Mishra and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-09-07 with Business & Economics categories.

We examine the strength of monetary transmission in India, using a conventional structural VAR methodology. We find that a tightening of monetary policy is associated with a significant increase in bank lending rates and conventional effects on the exchange rate, though pass-through to lending rates is only partial and exchange rate effects are weak. We could find no significant effects on real output or the inflation rate. Though the message for the effectiveness of monetary transmission in India is therefore mixed, our results for India are more favorable than is often found for other developing countries.

Quarterly Projection Model For India

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Author : Mr.Jaromir Benes
language : en
Publisher: International Monetary Fund
Release Date : 2017-02-13

Quarterly Projection Model For India written by Mr.Jaromir Benes and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-02-13 with Business & Economics categories.

This paper outlines the key features of the production version of the quarterly projection model (QPM), which is a forward-looking open-economy gap model, calibrated to represent the Indian case, for generating forecasts and risk assessment as well as conducting policy analysis. QPM incorporates several India-specific features like the importance of the agricultural sector and food prices in the inflation process; features of monetary policy transmission and implications of an endogenous credibility process for monetary policy formulation. The paper also describes key properties and historical decompositions of some important macroeconomic variables.

Monetary Economics In Developing Countries

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Author : Subrata Ghatak
language : en
Publisher: Palgrave
Release Date : 1995

Monetary Economics In Developing Countries written by Subrata Ghatak and has been published by Palgrave this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995 with Business & Economics categories.

This book highlights the basic principles of monetary economics and their application to developing countries. Fully illustrated, the new edition includes four entirely new chapters, with material on financial crises, the debates surrounding inflation targeting, and an examination of the role and future of financial institutions.

Evolving Monetary Policy Frameworks In Low Income And Other Developing Countries

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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2015-10-23

Evolving Monetary Policy Frameworks In Low Income And Other Developing Countries written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-10-23 with Business & Economics categories.

Over the past two decades, many low- and lower-middle income countries (LLMICs) have improved control over fiscal policy, liberalized and deepened financial markets, and stabilized inflation at moderate levels. Monetary policy frameworks that have helped achieve these ends are being challenged by continued financial development and increased exposure to global capital markets. Many policymakers aspire to move beyond the basics of stability to implement monetary policy frameworks that better anchor inflation and promote macroeconomic stability and growth. Many of these LLMICs are thus considering and implementing improvements to their monetary policy frameworks. The recent successes of some LLMICs and the experiences of emerging and advanced economies, both early in their policy modernization process and following the global financial crisis, are valuable in identifying desirable features of such frameworks. This paper draws on those lessons to provide guidance on key elements of effective monetary policy frameworks for LLMICs.