|Alternative Monetary Policy Rules for India|
Author/Editor: Michael Debabrata Patra, Muneesh Kapur.
Release Date:May, 2012
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 more...
|A Monetary Policy Model Without Money for India|
Author/Editor: Michael Patra, Muneesh Kapur.
Release Date:August, 2010
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 more...