This study analyses the behaviour of monetary and fiscal policies interaction in India using quarterly data for 2000Q2 to 2010Q1. It finds that, even after the elimination of automatic monetisation of fiscal deficit in 1997 and prohibiting RBI from buying government securities in the primary...

The purpose of the paper is to present a tractable model of an old topic which is becoming more important in macroeconomics: the link between financial structure and economic activity.

This paper investigates the dynamic effects of monetary and fiscal policy in a monetary union, which is characterized by asymmetric interest rate transmission. This asymmetry gives rise to intertemporal reversals in the relative effectiveness of policy on member country outputs. The direction...

The Reserve Bank of India, in its Annual Policy Statement on April 28, 2005, for the year 2005-06, announced its intention to reorient government debt management operations entailing functional separation between debt management and monetary operations within RBI. This first step initiating the...

* Repo Rate increased to 7.25 per cent from 7.0 per cent. * The flexibility to conduct overnight repo or longer term repo including the right to accept or reject tender(s) under the LAF, wholly or partially is retained. * Reverse Repo Rate, Bank Rate and CRR kept unchanged. * GDP growth forecast...

El objetivo de este paper es realizar una descripción del caso brasileño, en lo que hace a la salida de un sistema en el cual el ancla nominal de la economía era un tipo de cambio semi-fijo, hacia un régimen de flotación “cuasi” limpia de la moneda, en el que el ancla de la economía...

A LOOK AT EXCHANGE RATE AND MONETARY POLICY IN MALAWI* Prepared by K Simwaka Research & Statistics Department Reserve Bank of Malawi Abstract The paper assesses whether the exchange rate is affected by monetary policy and whether these effects are permanent or transitory. The paper takes the...

El corto es un instrumento de política monetaria que utiliza el Banco de México para abatir la inflación. El corto ha sido un instrumento muy útil para Banco de México en la conducción de la política monetaria, porque ha permitido que los choques a los mercados se distribuyan y se...

The links between commodity prices, interst rates, wages, and the exchange rate of the U.S. dollar with consumer prices is investigated. An ARIMA transfer function methodology is employed. Sample data are from January 1972 to December 1988. Although model diagnsotics are relatively good,...

Factor-augmented VARs (FAVARs) have combined standard VARs with factor analysis to exploit large data sets in the study of monetary policy. FAVARs enjoy a number of advantages over VARs: they allow a better identification of the monetary policy shock; they can avoid the use of a single variable...