A Monetary Policy Model Without Money for India

A Monetary Policy Model Without Money for India
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. READ MORE...

Publication date: August 2010
ISBN 9781455202171
$18.00

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