The unconventional monetary policies (UMPs) pursued by the advanced economies (AEs) have posed macroeconomic challenges for the emerging market economies (EMEs) through volatile capital flows and exchange rates. AE central banks need to acknowledge and appreciate the spillovers resulting from...

The North Atlantic financial crisis of 2008-2009 has spurred renewed interest in reforming the international monetary system, which has been malfunctioning in many aspects. Large and volatile capital flows have promoted greater volatility in financial markets, leading to recurrent financial...

This paper provides a narrative of Indian monetary policy since the North Atlantic Financial Crisis (NAFC) in the mid‐2008 till the current period. The period 2009–2013 was dominated by the joint monetary and fiscal stimuli of the Indian authorities prompted by the NAFC. These, along with...