Convergence and spillovers across countries and within countries are old, but recurrent policy concerns, and India is …

India has a long history of running fiscal deficits. Two broad considerations motivate a government to run a deficit … 1951-52 to 1996-97. The empirical results indicate that the central government of India has tax-smoothed, while the … regional governments of India have not. The paper also finds evidence of tax tilting, reflected in financial repression, which …

standard estimation technique of exchange rate pass-through to inflation is extended to incorporate exchange rate volatility …Does the South African rand's relatively large volatility affect inflation? To shed some light on this question, a …. Estimated results suggest that higher exchange rate volatility tends to increase core inflation but to a relatively limited …

There is an extensive literature noting that high inflation can add to income inequality, and a parallel literature … assessing the effect of rising food prices on the poor. This paper attempts to combine these strands by dividing inflation into … food and nonfood inflation and assessing whether food inflation affects income inequality differently from nonfood …

We study the inflation process in India, focusing on the periods before and after the adoption of flexible inflation …-forecast targeting (FIT) in India. Our analysis uses several approaches including standard Phillips curve estimation for headline and … core inflation, an examination of the sensitivity of medium-term inflation expectations to inflation surprises, and the …

We analyze the dramatic decline in India's inflation over the last two years using an augmented Phillips Curve approach …, we find that inflation is a highly persistent process in India, reflecting very adaptive expectations and the backward … lower oil prices in India's disinflation was relatively modest given the limited pass-through into domestic prices. Instead …

Over the past decade, India has seen a prolonged period of high inflation, to a large extent driven by persistently … under India's recently-adopted flexible inflation targeting framework will depend on enhancing food supply, agricultural …-high food inflation. This paper investigates the demand and supply factors behind the contribution of relative food inflation to …