Inflation Forecast Targeting For India

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Inflation Forecast Targeting For India

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

Inflation Forecast Targeting 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.

India formally adopted flexible inflation targeting (FIT) in June 2016 to place price stability, defined in terms of a target CPI inflation, as the primary objective of monetary policy. In this context, the paper draws on Indian macroeconomic developments since 2000 and the experience of other countries that adopted FIT to bring out insights on how credible policy with an emphasis on a strong nominal anchor can reduce the impact of supply shocks and improve macroeconomic stability. For illustrating the key issues given the unique structural characteristics of India and the policy options under an FIT framework, the paper describes an analytical framework using the core quarterly projection model (QPM). Simulations of the QPM are carried out to illustrate the monetary policy responses under different types of uncertainty and to bring out the importance of gaining credibility for improving monetary policy efficacy.

Advancing The Frontiers Of Monetary Policy

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Author : Tobias Adrian
language : en
Publisher: International Monetary Fund
Release Date : 2018-04-13

Advancing The Frontiers Of Monetary Policy written by Tobias Adrian 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 2018-04-13 with Business & Economics categories.

Contributors working at the International Monetary Fund present 14 chapters on the development of monetary policy over the past quarter century through the lens of the evolution of inflation-forecast targeting. They describe the principles and practices of inflation-forecast targeting, including managing expectations, the implementation of a forecasting and policy analysis system, monetary operations, monetary policy and financial stability, financial conditions, and transparency and communications; aspects of inflation-forecast targeting in Canada, the Czech Republic, India, and the US; and monetary policy challenges faced by low-income countries and how inflation-forecast targeting can provide an anchor in countries with different economic structures and circumstances.

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.

Inflation In Emerging And Developing Economies

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Author : Jongrim Ha
language : en
Publisher: World Bank Publications
Release Date : 2019-01-03

Inflation In Emerging And Developing Economies written by Jongrim Ha and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-01-03 with Business & Economics categories.

This is the first comprehensive study in the context of EMDEs that covers, in one consistent framework, the evolution and global and domestic drivers of inflation, the role of expectations, exchange rate pass-through and policy implications. In addition, the report analyzes inflation and monetary policy related challenges in LICs. The report documents three major findings: In First, EMDE disinflation over the past four decades was to a significant degree a result of favorable external developments, pointing to the risk of rising EMDE inflation if global inflation were to increase. In particular, the decline in EMDE inflation has been supported by broad-based global disinflation amid rapid international trade and financial integration and the disruption caused by the global financial crisis. While domestic factors continue to be the main drivers of short-term movements in EMDE inflation, the role of global factors has risen by one-half between the 1970s and the 2000s. On average, global shocks, especially oil price swings and global demand shocks have accounted for more than one-quarter of domestic inflation variatio--and more in countries with stronger global linkages and greater reliance on commodity imports. In LICs, global food and energy price shocks accounted for another 12 percent of core inflation variatio--half more than in advanced economies and one-fifth more than in non-LIC EMDEs. Second, inflation expectations continue to be less well-anchored in EMDEs than in advanced economies, although a move to inflation targeting and better fiscal frameworks has helped strengthen monetary policy credibility. Lower monetary policy credibility and exchange rate flexibility have also been associated with higher pass-through of exchange rate shocks into domestic inflation in the event of global shocks, which have accounted for half of EMDE exchange rate variation. Third, in part because of poorly anchored inflation expectations, the transmission of global commodity price shocks to domestic LIC inflation (combined with unintended consequences of other government policies) can have material implications for poverty: the global food price spikes in 2010-11 tipped roughly 8 million people into poverty.

Monetary Policy In India

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Author : Chetan Ghate
language : en
Publisher: Springer
Release Date : 2016-11-25

Monetary Policy In India written by Chetan Ghate and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-11-25 with Business & Economics categories.

This book presents research that applies contemporary monetary theory and state-of-the-art econometric methods to the analysis of the monetary and financial aspects of the Indian economy and the impact of monetary policy on economic performance. Indian monetary policy has attracted significant attention from Indian and international macroeconomists over the last several years. Interest in how monetary policy influences economic performance and how monetary policy is conducted in India is growing. The prospects for further financial sector reform and ongoing inflation in India have sparked new interest in the role of money and monetary policy in India among economists, policy makers and students alike. The book should also interest economists outside India because it studies monetary economics in a major emerging market economy and makes advances in the analysis of how financial market imperfections and structural constraints influence the effects of monetary policy.

Angola

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Author : International Monetary Fund. African Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2024-03-27

Angola written by International Monetary Fund. African Dept. 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 2024-03-27 with Business & Economics categories.

Angola: Selected Issues

Inflation Forecast Targeting For India Outline Of The Analytical Framework

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Author :
language : en
Publisher:
Release Date : 2017

Inflation Forecast Targeting For India Outline Of The Analytical Framework written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with Inflation targeting categories.

"India formally adopted flexible inflation targeting (FIT) in June 2016 to place price stability, defined in terms of a target CPI inflation, as the primary objective of monetary policy. In this context, the paper draws on Indian macroeconomic developments since 2000 and the experience of other countries that adopted FIT to bring out insights on how credible policy with an emphasis on a strong nominal anchor can reduce the impact of supply shocks and improve macroeconomic stability. For illustrating the key issues given the unique structural characteristics of India and the policy options under an FIT framework, the paper describes an analytical framework using the core quarterly projection model (QPM). Simulations of the QPM are carried out to illustrate the monetary policy responses under different types of uncertainty and to bring out the importance of gaining credibility for improving monetary policy efficacy."--Abstract.

World Economic Outlook October 2018

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Author : International Monetary Fund. Research Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2018-10-09

World Economic Outlook October 2018 written by International Monetary Fund. Research Dept. 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 2018-10-09 with Business & Economics categories.

Global growth for 2018–19 is projected to remain steady at its 2017 level, but its pace is less vigorous than projected in April and it has become less balanced. Downside risks to global growth have risen in the past six months and the potential for upside surprises has receded. Global growth is projected at 3.7 percent for 2018–19—0.2 percentage point lower for both years than forecast in April. The downward revision reflects surprises that suppressed activity in early 2018 in some major advanced economies, the negative effects of the trade measures implemented or approved between April and mid-September, as well as a weaker outlook for some key emerging market and developing economies arising from country-specific factors, tighter financial conditions, geopolitical tensions, and higher oil import bills. The balance of risks to the global growth forecast has shifted to the downside in a context of elevated policy uncertainty. Several of the downside risks highlighted in the April 2018 World Economic Outlook (WEO)—such as rising trade barriers and a reversal of capital flows to emerging market economies with weaker fundamentals and higher political risk—have become more pronounced or have partially materialized. Meanwhile, the potential for upside surprises has receded, given the tightening of financial conditions in some parts of the world, higher trade costs, slow implementation of reforms recommended in the past, and waning growth momentum.

Economic Developments In India Monthly Update Volume 19 Analysis Reports Policy Documents

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Author : Editors : Raj Kapila & Uma Kapila
language : en
Publisher: Academic Foundation
Release Date : 1999

Economic Developments In India Monthly Update Volume 19 Analysis Reports Policy Documents written by Editors : Raj Kapila & Uma Kapila and has been published by Academic Foundation this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with categories.

Indias Relations With The International Monetary Fund Imf

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Author : V. Srinivas
language : en
Publisher: Vij Books India Pvt Ltd
Release Date : 2019-07-01

Indias Relations With The International Monetary Fund Imf written by V. Srinivas and has been published by Vij Books India Pvt Ltd this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-07-01 with Political Science categories.

From one of India's senior Civil Servants, a brilliant analysis of the critical moments in India's economic history and the future of multilateralism in the International Monetary Fund that could decide the future of global crisis resolution. V. Srinivas – distinguished Additional Secretary to Government of India, former Advisor to the Executive Director International Monetary Fund and Private Secretary to Finance Minister of India, a widely acclaimed administrator and academician – provides a comprehensive analysis of several big events that stand out in India's relations with the International Monetary Fund based on 17 months of research and interviews. India's Relations with the International Monetary Fund 1991-2016 provides insights into India's role as a Founding Member of the IMF, India's IMF programs of 1966, 1981 and 1991, India's gold purchases from the IMF in 2010, the rise of G20 and India's emergence as the fastest growing major economy in the world. V. Srinivas highlights the role of the IMF as the lender of last resort, the IMF as an institution of asymmetric power in dealing with member countries, the enhanced role of the IMF post-2008 Global Financial Crisis and the Rise of China in the International Monetary System. “India's relations with International Monetary Fund 1991-2016: 25 years in perspective” is the first comprehensive study on the subject that offers deep insights into an Institution that has influenced the global economy in a significant way.