This paper measures the magnitude of money and interest rate shocks in explaining the price and output movement in the post financial liberalization era of India. The objective is achieved through technique termed historical decomposition within the framework of Vector autoregressive Model....

One of the most important and recurrent concept in international macroeconomics is Purchasing Power Parity (PPP) hypothesis. PPP has been used as a theory of domestic price determination under fixed exchange rate regime and a theory of exchange rate determination under flexible exchange rate...

The IS-LM model, as a vehicle for policy analysis, has a substantial influence on the policy makers and academicians. Like the developed countries, the IS-LM framework remains important for students to learn in the developing countries because of the benefits it offers in clarifying their...

The objective of this paper is to test the validity of two views of monetarism in Bangladesh, India, and Pakistan. A Structural Vector Autoregressive (SVAR) model is developed and the objective is accomplished by conducting Granger causality tests and estimating variance decompositions and...

This paper measures the magnitude of money and interest rate shocks in explaining the price and output movement in the post financial liberalization era of India. The objective is achieved through technique termed historical decomposition within the framework of Vector autoregressive Model....