Ghate, Chetan; Gopalakrishnan, Pawan; Tarafdar, Suchismita - Volkswirtschaftliche Fakultät, … - 2014
economy business cycle experience suggests however that real interest rates can also be pro-cyclical. We reconcile the pro …-cyclicality of real interest rates with the above facts by embedding fiscal policy into a standard emerging market business cycle … qualitatively some of the key features of the Indian business cycle. …