We investigate whether the seemingly discretionary and flexible approach of India’s central bank, the Reserve Bank of … India (RBI), can in practice be described by a Taylor-type rule. We estimate an exchange rate-augmented Taylor rule for … India over the period 1980Q1 to 2008Q4, allowing for potential structural shifts between the pre- and post …

In this paper we analyze whether the current macroeconomic environment in India is suitable for implementation of … results indicate that historically the Reserve Bank of India has given more importance to inflation compared to output growth … prices in India thereby making the choice of nominal anchor a tricky one. Furthermore, the success of monetary policy in …

This paper investigates whether the seemingly discretionary and flexible approach of the Reserve Bank of India can in … practice be described by a Taylor-type rule. It estimates an exchange-rate-augmented Taylor rule for India over the period …