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External shocks
Goyal, Ashima - Indira Gandhi Institute of Development Research (IGIDR) - 2014
rate regime can contribute to effective inflation targeting without the policy rate rising to reduce depreciation as in the …
Persistent link: https://www.econbiz.de/10011095683
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Monetary approach to inflation: A medium-term structural model in a small open economy (the case of the Czech Republic in 1996-2004)
Arlt, Josef; Kodera, Jan; Mandel, Martin; Tomšík, … - In: Politická ekonomie 2006 (2006) 3
The paper analyses a relationship between monetary aggregate M2 and inflation in a small open economy. The relationship … between monetary expansion and inflation as well as a dynamic of income velocity of money framework in a small open economy … money and tradables inflation in the case of the Czech small open economy is not found. The conclusions presented in the …
Persistent link: https://www.econbiz.de/10005036707
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The Future Of Financial Liberalization In South Asia
Goyal, Ashima - In: Asia-Pacific Development Journal 19 (2012) 1, pp. 63-96
This paper overviews financial liberalization in three South Asian countries — Bangladesh, India and Pakistan — in order to derive lessons for future reforms. It investigates how freeing domestic financial markets, improving capital account convertibility, and restructuring regulations have...
Persistent link: https://www.econbiz.de/10011278437
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Data and Definitions : Underestimating Savings and Investment in an Open Economy
Goyal, Ashima - East Asian Bureau of Economic Research (EABER) - 2007
This note clarifies definitions and derives from first principles the relationship between investment, domestic and foreign savings in order to show that there is underestimation of investment and foreign savings given conceptual macroeconomic definitions and Indian practice. Indian national...
Persistent link: https://www.econbiz.de/10009363928
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The Future of Financial Liberalization in South Asia
Goyal, Ashima - East Asian Bureau of Economic Research (EABER) - 2010
The paper defines financial liberalization, distinguishing between liberalization of domestic financial markets and capital account convertibility. It then examines the stages and the strategy of Indian financial reform. The Indian strategy followed a well thought out sequence whereby full...
Persistent link: https://www.econbiz.de/10009365400
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The Future of Financial Liberalization in South Asia
Goyal, Ashima - East Asian Bureau of Economic Research (EABER) - 2010
The paper defines financial liberalization, distinguishing between liberalization of domestic financial markets and capital account convertibility. It then examines the stages and the strategy of Indian financial reform. The Indian strategy followed a well thought out sequence whereby full...
Persistent link: https://www.econbiz.de/10009365446
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Reform proposals from developing Asia: finding a win-win strategy
Goyal, Ashima - Volkswirtschaftliche Fakultät, … - 2002
Recipient countries and creditors have different perspectives on proposals for reform of the international financial architecture. The difference arises from varying perceptions of the causes of the East Asian crisis. Creditors emphasize inappropriate policies of borrowing countries, and...
Persistent link: https://www.econbiz.de/10009004152
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The Indian Exchange Rate and Central Bank Action : A GARCH Analysis
Goyal, Ashima; Arora, Sanchit - East Asian Bureau of Economic Research (EABER) - 2010
We study, with daily and monthly data sets, the impact of conventional monetary policy measures such as interest rates, intervention and other quantitative measures, and of Central Bank communication on exchange rate volatility. Since India has a managed float, we also test if the measures...
Persistent link: https://www.econbiz.de/10009363921
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“Incentives from Exchange Rate Regimes in an Institutional Context"
Goyal, Ashima - East Asian Bureau of Economic Research (EABER) - 2005
exchange rates, and lower inflation. Simulations generalize the analytic result with regressions validating the parameter …
Persistent link: https://www.econbiz.de/10009363977
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Incentives from Exchange Rate Regimes in an Institutional Context
Goyal, Ashima - East Asian Bureau of Economic Research (EABER) - 2006
market economy, it is shown that a monetary stimulus preceding a temporary supply shock can abort inflation at minimum output …
Persistent link: https://www.econbiz.de/10009365486