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Is India Ready for Flexible Inflation-Targeting?

Sen Gupta, Abhijit; Sengupta, Rajeswari - Volkswirtschaftliche Fakultät, … - 2014

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 …

Persistent link: https://www.econbiz.de/10011108891

Estimating a monetary policy rule for India

Hutchison, Michael; Sengupta, Rajeswari; Singh, Nirvikar - Volkswirtschaftliche Fakultät, … - 2010

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 …

Persistent link: https://www.econbiz.de/10011109028

Estimating a Monetary Policy Rule for India

Hutchison, Michael; Sengupta, Rajeswari; Singh, Nirvikar - Volkswirtschaftliche Fakultät, … - 2010

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 …

Persistent link: https://www.econbiz.de/10008592932

Monetary Policies and Nigerian Economy:Simulations from Dynamic Stochastic General Equilibrium(DSGE)Model

Nwaobi, Godwin - Volkswirtschaftliche Fakultät, … - 2012

Traditionally, the task of monetary management is usually performed by the monetary authority on behalf of government. However, a key challenge in monetary management is how to deal with uncertainty. Thus, the relevant policy questions must include how best the available instruments of monetary...

Persistent link: https://www.econbiz.de/10011108535

Welfare Effects of Price Targeting on Fixed Income Earners in Nigeria: A Framework for Analysis

ibrahim, waheed - Volkswirtschaftliche Fakultät, … - 2013

The paper examines the welfare implications of price targeting from the perspective of when central bank has credibility of persistently achieving the target rates and when people have lost confidence on such credibility. In the former, it was observed that the principle of Pareto optimality...

Persistent link: https://www.econbiz.de/10011110787

Development of an explicit rule of monetary policy for the economy of Ukraine

Kozmenko, Serhiy; Savchenko, Taras - Volkswirtschaftliche Fakultät, … - 2013

The paper explains the expediency of developing an explicit rule of monetary policy for the economy of Ukraine. It studies the stages of its development, proving the expediency of formation of monetary rules for money aggregates, evaluates equilibrium values of the rule’s parameters based on...

Persistent link: https://www.econbiz.de/10011258292

Decizii strategice ale politicii monetare

Dumitriu, Ramona; Stefanescu, Răzvan - Volkswirtschaftliche Fakultät, … - 2013

The conduct of the monetary policy could be view as a series of decisions in which the objectives and tools are chosen. This paper explores some aspects of the strategic decisions of the monetary policy such as the roles played by central banks and other public authorities, the main constraints...

Persistent link: https://www.econbiz.de/10011259520

Graph representation of balance sheets: from exogenous to endogenous money

Pitrou, Cyril - Volkswirtschaftliche Fakultät, … - 2015

A graph representation of the financial relations in a given monetary structure is proposed. It is argued that the graph of debt-liability relations is naturally organized and simplified into a tree structure, around banks and a central bank. Indeed, this optimal graph allows to perform payments...

Persistent link: https://www.econbiz.de/10011262872

Monetary policy under inflation targeting: lessons from industrial and emerging countries

Aliqoriev, Olimkhon; Khamidov, Khalilillo - Volkswirtschaftliche Fakultät, … - 2014

This article focuses on inflation targeting (hereafter IT) as a superior monetary policy strategy for attaining price stability, and its theoretical framework, prerequisites to introduce. The article analyses benefits and costs of adoption of inflation targeting and also examines the IT...

Persistent link: https://www.econbiz.de/10011113326

Implementing inflation targeting in Brazil: an institutional analysis

Strachman, Eduardo - Volkswirtschaftliche Fakultät, … - 2009

The paper shows the advantages and handicaps of implementing an inflation target (IT) regime, from a Post-Keynesian and, thus, an institutional stance. It is Post-Keynesian as long as it does not perceive any benefit in the mainstream split between monetary and fiscal policies. And it is...

Persistent link: https://www.econbiz.de/10005014711