 | 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...
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 | 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...
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